49 minutes ago
Shares of Purple Style Labs Ltd ended at ₹534.00, down by ₹36.15, or 6.34%, on the BSE.
2 Min Read
Purple Style Labs Ltd, the parent company of Pernia's Pop-Up Shop, on Tuesday (September 15) said it has approved an investment of ₹420 crore in its wholly owned subsidiary PSL Retail Private Ltd through a rights issue.
The investment will be made from the net proceeds of the company’s initial public offering (IPO), in line with the objects stated in its prospectus dated September 2, 2026. PSL Retail will use the proceeds towards lease liabilities of its experience centres and back-end offices in India, as well as for general corporate purposes.
The company will acquire 42 crore equity shares of PSL Retail at an issue price of ₹10 per share, for a total consideration of ₹420 crore. The transaction will be completed between September 19 and September 25, according to the rights issue offer letter dated September 15.
ALSO READ | Purple Style Labs shares list at discount on Dalal Street; stock opens 7% below IPO price
Purple Style Labs currently holds 100% of PSL Retail and will continue to hold the entire share capital after the proposed investment.
PSL Retail is a wholly owned and material subsidiary of Purple Style Labs. Incorporated on August 29, 2019, it operates a luxury omnichannel fashion platform under the Pernia’s Pop-Up Shop brand, with categories including womenswear, menswear, jewellery, accessories and kidswear. The business operates through physical experience centres in India and an online platform.
PSL Retail reported revenue from operations of ₹555.74 crore for the financial year ended March 31, 2026, compared with ₹485.87 crore in FY25 and ₹495.19 crore in FY24. Its paid-up share capital stood at ₹280.01 crore as of September 15.
The transaction is a related-party transaction as PSL Retail is a wholly owned subsidiary of Purple Style Labs. The company said the investment is being undertaken on an arm’s length basis and in accordance with the objects of its IPO. No government or regulatory approvals are required for the investment.
ALSO READ | Purple Style Labs opens IPO with store expansion, marketing in focus
Shares of Purple Style Labs Ltd ended at ₹534.00, down by ₹36.15, or 6.34%, on the BSE.
First Published:
Sept 15, 2026 5:12 PM
IST
