Building materials platform Infra.Market and luxury fashion house Pernia’s Pop Up Shop’s parent Purple Style Labs have received the nod from market regulator Securities and Exchange Board of India (SEBI) for their respective IPOs.
The market regulator issued the observations letters to both the companies today, as per the latest update on SEBI website. In SEBI’s parlance, issuance of an observation letter is the go-ahead for IPO.
While Purple Style Labs filed its DRHP with SEBI for INR 660 Cr IPO in September, Infra.Market pre-filed its IPO papers in October. The building materials platform’s public issue is expected to raise around INR 5,000 Cr, in an equal mix of fresh issue and offer for sale (OFS).
Purple Style Labs’ IPO will only consist of fresh issue of shares.
(The story will be updated soon)
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