New Delhi, Aug. 31 -- The Rs.680 crore initial public offering (IPO) of Purple Style Labs, the operator of a multi-brand luxury omnichannel fashion platform in India, opens on Monday, 31 August, and will remain open until Wednesday, 2 September.

The book-build issue is a fresh issue of about 1.18 crore shares to raise Rs.680 crore, which the company intends to invest in its wholly owned subsidiary, PSL Retail, to meet lease liabilities for experience centres and back-end offices in India. It will also use the net proceeds to fund sales and marketing expenses and for general corporate purposes.

Purple Style Labs IPO price band has been fixed at Rs.546 to Rs.575 per share. Axis Capital and IIFL Capital Services are the book-running lead m...