India, Sept. 22 -- Pernia's Pop Up Shop parent Purple Style Labs has filed its draft red herring prospectus (DRHP) with SEBI for an initial public offering (IPO) that will solely consist of a fresh issue of equity shares.

The company is looking to raise up to INR 660 Cr through its fresh issue of equity shares. No offer for sale (OFS) component has been outlined yet. It may also undertake a pre-IPO placement of shares worth up to INR 130 Cr; any amount raised under this route will reduce the fresh issue size accordingly.

Important to mention that the company's board approved the proposal to undertake an IPO comprising a fresh issue of equity shares aggregating up to INR 750 Cr on August 28.

Of the net proceeds, the largest chunk-INR 36...