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Purple Style Labs (PSL), the parent company of Pernia's Pop-Up Shop, has raised around Rs 162.5 crore (approximately $17 million) in debt across 14 tranches between January and June, following the Securities and Exchange Board of India's (SEBI) approval for its initial public offering (IPO).
According to filings with the Ministry of Corporate Affairs (MCA), the funding was secured from a mix of institutional investors, including Kairos Ventures, Real Capital Financial Services and Texport International, along with several angel investors, family offices and high-net-worth individuals (HNIs).
The fresh capital comes as the fashion and luxury retail platform gears up for its public market debut. The company intends to deploy a significant portion of its IPO proceeds toward expanding its omnichannel footprint.
As per its draft IPO plans, Purple Style Labs has earmarked Rs 363.3 crore to meet lease liabilities for new and existing experience centres, while also strengthening its backend infrastructure across India to support future growth.
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