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The initial public offering for fashion retailer Purple Style Labs has opened to significant retail investor interest, even as the company navigates a trademark notice over its brand name ahead of the listing.
Purple Style Labs, owner of Pernia’s Pop-Up Shop, is set to launch its Initial Public Offering (IPO) worth Rs 680 crore on August 31.
Eight institutional investors have committed to purchasing Rs 306 crore worth of shares in Purple Style Labs through an anchor book ahead of the company's initial public offering on August 31.
The Rs 660 crore Purple Style Labs IPO, backed by Mukul Agarwal and Akash Bhansali, is scheduled to open this month.
Purple Style Labs, operator of Pernia’s Pop-Up Shop, plans to list shares next week to capitalize on India's booming demand for elaborate wedding and occasion wear.