Pernia's Pop-up Studio IPO
Grey Market Premium (GMP)
Last updated: 7 Sept 2026, 5:55 am IST
GMP trend over the last 15 readings: falling, from ₹0 to ₹-10 (range ₹-10 to ₹34).
GMP is an unofficial figure from grey market dealers and is not a guarantee of listing price.
Subscription Status
| Category | Subscription |
|---|---|
| Total | 1.36x |
Bidding day 3 · last updated 10 Oct 2026, 5:30 am IST
IPO Details
- Open Date
- 31 Aug 2026
- Close Date
- 2 Sept 2026
- Listing Date
- 7 Sept 2026
- Face Value
- ₹10
- Fresh Issue
- ₹680 Cr
- OFS
- ₹0 Cr
- Listing On
- NSE, BSE
- Registrar
- KFin Technologies (KFintech)
The fresh issue is money for the company; the OFS goes to selling shareholders. Fresh issue vs offer for sale, explained
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 26 | ₹14,950 |
| Retail (Max) | 14 | 364 | ₹2,09,300 |
| B-HNI (Min) | 67 | 1,742 | ₹10,01,650 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 53,21,739 | 45% |
| QIB (ex-anchor) | 35,47,827 | 30% |
| NII | 17,73,912 | 15% |
| — sNII (< ₹10L) | 5,91,304 | 5% |
| — bNII (> ₹10L) | 11,82,608 | 10% |
| Retail | 11,82,608 | 10% |
| Total | 1,18,26,086 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 510.03 | -47.71 | 31.63 | 39.51 | 458.39 | 116.33 | — |
| FY 2025 | 494 | -188.38 | 41.99 | 117.5 | 497.05 | 112.79 | — |
| FY 2026 | 567.07 | -285.4 | 30.37 | -52.28 | 829.6 | 371.4 | -41.83 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- -13.75x
- P/E (post-issue)
- -16.26x
- RoNW
- -160.33%
- RoE
- -160.33%
- RoCE
- -23.56%
- EPS (pre-issue)
- ₹-41.83
- EPS (post-issue)
- ₹-35.37
- EBITDA Margin
- 5.44%
- PAT Margin
- -51.16%
- P/BV
- 31.47x
- NAV / share
- ₹-7.69
- Market Cap
- ₹4,639.63 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Investment in wholly owned Subsidiary, PSL Retail for expenditure towards lease liabilities of Experience Centers, and back-end offices in India | ₹371.13 Cr |
| Funding towards sales and marketing expenses to be incurred by the Company | ₹138.9 Cr |
| General Corporate Purposes | ₹103.13 Cr |
| Issue Expenses | ₹66.84 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Book Running Lead Managers’ fees and commissions (including underwriting commission and brokerage | ₹13 Cr |
| Commission/ processing fee for SCSBs and Bankers to the Issue and fees payable to the Sponsor Bank(s) for Bids made by UPI Bidders. Brokerage, selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | ₹0.52 Cr |
| Fees payable to the Registrar to the Issue | ₹0.08 Cr |
| Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | ₹2.72 Cr |
| Printing and stationery expenses | ₹0.27 Cr |
| Advertising and marketing expenses | ₹8.1 Cr |
| Fees payable to legal counsels | ₹10.49 Cr |
| Fees payable to advisors and consultants to the Issue inter alia the Statutory Auditors, Predecessor Joint Statutory Auditors, Independent Practicing Company Secretary, Independent Chartered Accountant, and industry service provider; and advisory fees payable to Syndicate Member | ₹30.2 Cr |
| Miscellaneous | ₹1.48 Cr |
Promoters & Shareholding
Promoters: <p>Abhishek Agarwal</p>
- Holding (pre-issue)
- 26.34%
- Holding (post-issue)
- 0%
- Dilution
- 26.34%
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| ICICI PRUDENTIAL SMALLCAP FUND | Other | 15,30,412 | ₹575 | 88 | 28.76% |
| ADITYA BIRLA SUN LIFE INSURANCE CO.LTD. | Insurance | 11,82,584 | ₹575 | 68 | 22.22% |
| JUPITER INDIA FUND | Other | 8,63,746 | ₹575 | 49.67 | 16.23% |
| BOFA SECURITIES EUROPE SA-ODI | Other | 4,86,954 | ₹575 | 28 | 9.15% |
| JUPITER GLOBAL FUND,THE-JUPITER INDIA SELECT | FII/FPI | 4,40,596 | ₹575 | 25.33 | 8.28% |
| INTEGRATED CORE STRATEGIES (ASIA) PTE.LTD. | Other | 2,60,858 | ₹575 | 15 | 4.9% |
| SINGULARITY EQUITY FUND I | Other | 1,73,895 | ₹575 | 10 | 3.27% |
| MORGAN STANLEY ASIA (SINGAPORE) PTE. | Other | 1,73,914 | ₹575 | 10 | 3.27% |
| ITI MULTI CAP FUND | Other | 1,04,390 | ₹575 | 6 | 1.96% |
| ITI FLEXI CAP FUND | Other | 1,04,390 | ₹575 | 6 | 1.96% |
Anchor bidding took place on 28 Aug 2026. Anchor lock-in: 50% of shares unlock on 2 Oct 2026, the remainder on 1 Dec 2026.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | Avoid |
Third-party analyst views on the Pernia's Pop-up Studio IPO, aggregated for reference. ipostation does not rate IPOs — nothing here is investment advice.
About the Pernia's Pop-up Studio IPO
The Pernia's Pop-up Studio mainboard IPO opens for subscription on 31 Aug 2026 and closes on 2 Sept 2026, offered at a price band of ₹546–575 per share, and is set to list on NSE and BSE. In total, the issue aims to mobilise ₹680 crore. Retail investors bid in lots of 26 shares, a minimum application of ₹14,950.
Issue structure
The IPO is structured entirely as a fresh issue of ₹680 crore, so the full proceeds flow to the company to fund its stated objects of the issue.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward investment in wholly owned subsidiary, psl retail for expenditure towards lease liabilities of experience centers, and back-end offices in india (₹371.13 crore), alongside funding towards sales and marketing expenses to be incurred by the company (₹138.9 crore). In all, 4 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Pernia's Pop-up Studio reported revenue of ₹567.07 crore and a net loss of ₹285.4 crore. Revenue grew from ₹510.03 crore in FY2024 to ₹567.07 crore in FY2026 (+11.0%). Net worth stood at ₹-52.28 crore at the end of FY2026.
Valuation
At the upper band, the issue is priced at -16.26× post-issue earnings and 31.47× book value, against a return on net worth of -160.33%. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Abhishek Agarwal</p>. Promoter holding stands at 26.34% before the issue and comes down to 0% after listing.
Grey market premium (GMP)
In the unofficial grey market, Pernia's Pop-up Studio shares are quoted at a premium of ₹-10 implying an expected listing around ₹565, about -1.7% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Pernia's Pop-up Studio IPO was subscribed 1.36 times overall.
What to weigh
When evaluating the Pernia's Pop-up Studio IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Pernia's Pop-up Studio
Incorporated in 2015, Purple Style Labs Ltd. operates Pernia’s Pop-Up Shop (“PPUS”), a multi-brand luxury omni-channel fashion platform. The platform allows customers to shop through its website, mobile application (Android and iOS), and Experience Centers. As of March 31, 2025, PPUS offered 211,727 SKUs from 1,312 active designer brands, covering categories such as womenswear, menswear, jewelry, accessories, and kidswear. The platform is associated with well-known designer brands including Seema Gujral, Anushree Reddy, Amit Aggarwal, and Rohit Gandhi & Rahul Khanna. Between Fiscal 2023 and Fiscal 2025, PPUS served over 200,000 unique customers across 140 countries. In Fiscal 2025 alone, it recorded 18.57 million unique visitors, 70,651 customers, and 104,856 orders, with a customer base spread across more than 100 countries. The company has established a strong international presence with a flagship Experience Center in London, UK, and plans to open a new Experience Center in New York, USA. Key international markets include the United States, United Kingdom, the Middle East, and Canada. Abhishek Agarwal is the company promoter.
Pernia's Pop-up Studio — Contact Details
- Registered office
- CTS No. 1081, Plot no. 110 TPS Village, Service Road, Western Express Highway, Vile Parle East, Mumbai, Maharashtra, 400057
- Phone
- +91 22 5033 3600
- Website
- www.purplestylelabs.com/
- Registrar (IPO queries)
- purplestyle.ipo@kfintech.com
Frequently asked questions
- What is the Pernia's Pop-up Studio IPO price band?
- The Pernia's Pop-up Studio IPO price band is ₹546 to ₹575 per share, with a lot size of 26 shares.
- What is the Pernia's Pop-up Studio IPO GMP today?
- The latest grey market premium for the Pernia's Pop-up Studio IPO is ₹-10, implying an expected listing near ₹565. GMP is an unofficial figure and not a guarantee of the listing price.
- When does the Pernia's Pop-up Studio IPO open and close?
- The Pernia's Pop-up Studio IPO opens on 31 Aug 2026 and closes on 2 Sept 2026.
- When is the Pernia's Pop-up Studio IPO allotment and listing date?
- Allotment is expected on 3 Sept 2026. The shares are scheduled to list on 7 Sept 2026 on NSE and BSE.
- How many times was the Pernia's Pop-up Studio IPO subscribed?
- The Pernia's Pop-up Studio IPO was subscribed 1.36 times in total across all investor categories.
- What is the reservation split in the Pernia's Pop-up Studio IPO?
- Of the total shares offered, retail investors get 10%, QIBs 30% (plus 45% anchor), non-institutional investors 15%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Pernia's Pop-up Studio and what is their holding?
- The promoters are <p>Abhishek Agarwal</p>. Promoter holding is 26.34% before the issue and 0% after listing.
- What is the P/E ratio of the Pernia's Pop-up Studio IPO?
- At the upper price band, the Pernia's Pop-up Studio IPO is valued at -13.75× pre-issue earnings and -16.26× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Pernia's Pop-up Studio IPO?
- The net proceeds go primarily toward investment in wholly owned subsidiary, psl retail for expenditure towards lease liabilities of experience centers, and back-end offices in india, among 4 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Pernia's Pop-up Studio IPO?
- The book-running lead managers are IIFL Capital Services Ltd., Axis Capital Ltd.. KFin Technologies (KFintech) is the registrar to the issue.
- Is Pernia's Pop-up Studio a Mainboard or SME IPO?
- Pernia's Pop-up Studio is a Mainboard IPO, listing on NSE and BSE.