Purple Style Labs to raise Rs 750 Cr via fresh issue in IPO

Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop (PPUS), is set to raise Rs 750 crore ($85 million) through a fresh issue of shares as part of its upcoming initial public offering (IPO).

According to regulatory filings accessed by Entrackr, the company’s board approved a special resolution to issue up to Rs 750 crore in fresh equity, with no mention of an offer for sale (OFS).

The filings indicate a potential pre-IPO placement of up to Rs 140 crore. If completed, the size of the main offer will be reduced by the number of equity…