2 days ago
Purple Style Labs IPO Gets 8% Subscription on Day One
Purple Style Labs is the company behind Pernia’s Pop-Up Shop.
It is selling shares to the public through an IPO.
On the first day, investors bought only 8% of all the shares offered.
Retail investors showed the most interest, while large institutional investors placed very few bids.
The price for each share is between ₹546 and ₹575.
The IPO will remain open until September 2, 2026.
The company plans to use much of the money to pay lease liabilities for its experience centres.
It will use the rest for sales and marketing.
The company is scheduled to list its shares on September 7.
Purple Style Labs received bids for 5.59 lakh shares against 68.50 lakh shares on offer, an 8% subscription.
Retail investors bid for 4.85 lakh shares, subscribing 39% of their reserved quota.
Non-institutional investors subscribed 4% of their quota, while qualified institutional buyers subscribed less than 1%.
The IPO has a price band of ₹546 to ₹575 per share and will close on September 2, 2026.
The ₹680 crore fresh issue will fund lease liabilities, sales and marketing; listing is scheduled for September 7.
- Who
- Purple Style Labs, the parent company of Pernia’s Pop-Up Shop, and investors participating in its IPO.
- What
- The company’s IPO received an 8% subscription on its first bidding day.
- Where
- The shares are scheduled to list on the exchanges.
- When
- Bidding began on August 31, 2026; the IPO closes on September 2 and is scheduled to list on September 7.
- Why
- The company is raising funds mainly for lease liabilities of its experience centres and for sales and marketing expenses through FY30.
Key facts
- First-day subscription
- 8%, based on bids for 5.59 lakh shares against 68.50 lakh shares offered
- Price band
- ₹546–₹575 per share
- Issue size
- Up to ₹680 crore, entirely a fresh issue
- Retail subscription
- 39%, with bids for 4.85 lakh shares against 12.45 lakh reserved
- Non-institutional subscription
- 4%, with bids for 74,126 shares against 18.68 lakh reserved
- Qualified institutional buyer subscription
- Less than 1%, with bids for 364 shares against 37.36 lakh reserved
- Financial performance
- FY26 operating revenue rose to ₹557.8 crore, while net loss widened to ₹285.4 crore
Sources
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