Purple Style, the parent company of Pernia's Pop-Up Shop and owned by Shahrukh Khan, Sachin Tendulkar, and Madhuri Dixit, is set to launch an initial public offering (IPO) worth ₹660 crore this month, according to the company’s draft red herring prospectus (DRHP) filed with market regulators.
The proposed IPO will consist entirely of a fresh issue of shares totaling up to ₹660 crore, with no offer-for-sale component, as detailed in the DRHP. The move aims to raise capital to support Purple Style’s business expansion plans. The company has positioned itself as a prominent player in the fashion retail sector, leveraging celebrity ownership to boost brand visibility and market reach.
This IPO comes amid a competitive market landscape where private market giants continue to attract investor attention, underscoring the importance of balancing market enthusiasm with sustainable business fundamentals. Purple Style’s offering is notable for its celebrity backing, which may influence investor interest and market performance. The ₹660 crore size places it among the mid-sized IPOs in the current market environment.
The IPO launch is scheduled for later this month, with Purple Style targeting to list on major Indian stock exchanges. Investors will watch the subscription levels closely to gauge market appetite for celebrity-backed retail ventures.