IPO-Bound Purple Style Labs Nets ₹306 Cr From Anchor Investors

•Purple Style Labs raised ₹306 Cr from 10 anchor investors at ₹575 apiece, the upper end of its IPO price band.

•Domestic mutual funds bought 17.39 Lakh shares worth ₹100 Cr, accounting for 32.68% of the total anchor allocation.

•The IPO consists of a fresh issue of shares worth up to ₹680 Cr, with no offer for sale component, and will open on August 31.

•The funds will be used to fund lease liabilities and sales and marketing expenses, valuing the company at ₹4,604 Cr at the upper end.