Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise about ₹660 crore through an initial public offering.

The proposed issue will include a fresh issue of equity shares. The company may also do a pre-IPO placement, which could lower the size of the offering.

Purple Style Labs runs one of India’s top multi-brand luxury fashion platforms. It connects a wide network of designers across apparel, jewellery, accessories, and occasion wear. Over the years, the company has created a strong omni-channel presence through its online platform and a growing number of physical experience centres.

The company plans to use the proceeds from the issue to expand its retail footprint, strengthen its experience centre network, and invest in brand and marketing efforts as it continues to grow its platform.

Link: https://entrackr.com/news/purple-style-labs-files-drhp-to-raise-rs-660-cr-via-ipo-10492434