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Exclusive: Purple Style Labs to raise Rs 750 Cr via fresh issue in IPO

EntrackrEntrackr · 8d ago
Exclusive: Purple Style Labs to raise Rs 750 Cr via fresh issue in IPO
Medial

Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop (PPUS), is set to raise Rs 750 crore ($85 million) through a fresh issue of shares as part of its upcoming initial public offering (IPO). According to regulatory filings accessed by Entrackr, the company's board approved a special resolution to issue up to Rs 750 crore in fresh equity, with no mention of an offer for sale (OFS). The filings indicate a potential pre-IPO placement of up to Rs 140 crore. If completed, the size of the main offer will be reduced by the number of equity shares issued in the placement. As per media reports, the company is expected to go public in 2026. In March, Purple Style Labs (PSL) raised around $40 million in its Series E round led by SageOne Flagship Growth OE Fund, Alchemy Long Term Ventures Fund. The round also saw the participation of several celebrities and sports personalities including Salman Khan and Sachin Tendulkar. Founded in 2015 by Abhishek Agarwal, Purple Style Labs is a luxury fashion platform featuring Pernia’s Pop-Up Shop and The Stylist. Since acquiring Pernia’s in 2018, it has expanded to over 15 experience centers across major Indian cities and London. According to startup data intelligence platform TheKredible, the Mumbai-based firm has raised over $87 million to date from investors including Binny Bansal, Volrado Venture Partners and others. Purple Style Labs’ revenue from operations grew 36% year-on-year to Rs 508 crore in FY24 from Rs 372 crore in FY23, while losses rose 20% to Rs 45.6 crore. The company has yet to file its FY25 financials.

Nazara acquires UK-based game publisher Curve Games for Rs 247 Cr

EntrackrEntrackr · 4m ago
Nazara acquires UK-based game publisher Curve Games for Rs 247 Cr
Medial

Nazara Technologies has announced the acquisition of 100% ownership in Curve Digital Entertainment Limited, a UK-based publisher of PC and console games, for Rs 247 crore ($29 million). The deal is being executed through its wholly owned subsidiary, Nazara Technologies UK Ltd, the company informed in a stock exchange filing on Tuesday. CDEL, a leading video game publisher for console and PC platforms, will become a step-down subsidiary of Nazara following the transaction. The deal also includes Curve’s six subsidiaries, such as Kuju Ltd, Runner Duck Games, and IronOak Games, which will be integrated into Nazara’s portfolio upon completion. CDEL is being acquired from Catalis Group, a UK-based media and entertainment company that owns a portfolio of interactive entertainment and QA/testing firms. The acquisition aligns with Nazara’s strategy to expand its footprint in premium game publishing globally. With a strong lineup of original IPs and a proven track record, Curve reported revenues of Rs 263.5 crore and EBITDA of GBP 10.6 million (approximately Rs 120 crore) in CY24. The acquisition is expected to strengthen Nazara’s presence in key gaming markets, including the US, UK, Japan, and South Korea. According to Nazara, the transaction will be funded through intra-group debt and is expected to close within 45 days, subject to regulatory clearances and other customary conditions. Recently, Absolute Sports, a subsidiary of Nazara Technologies and the parent company of Sportskeeda.com, signed definitive agreements to acquire TJRWrestling.net and ITRWrestling.com from Titan Insider Digital. In January 2025, it purchased two mobile games, King of Thieves and CATS: Crash Arena Turbo Stars, from Zeptolab for USD 7.7 million. Nazara has also set aside $100 million for future mergers and acquisitions to further its global expansion strategy. While Nazara has yet to file its Q4 FY25 results, its operating revenue rose by 67% to Rs 535 crore in Q3 FY25 from Rs 320 crore in Q3 FY24. During the period, the company’s profit fell by 53.6% year-on-year to Rs 13.7 crore.

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