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Purple Style Labs IPO and Market Debut
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2026-08-31 07:44 UTC → 2026-09-07 06:07 UTC ·
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Purple Style Labs IPO and Market Debut
Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, announced an opened its ₹680-crore initial public offering (IPO) to raise up to ₹680 crore through an on August 31, 2026. The issue, consisting entirely fresh issue of fresh equity shares. The subscription period shares, was scheduled to open on August 31, 2026, with a price band set priced between ₹546 and ₹575 per share. By the time Before the IPO opened, public subscription period, the company had secured ₹306 crore from anchor investors, including Morgan Stanley Asia (Singapore) Pte and BoFA Securities Europe SA ODI. Notable investors in the lineup include ODI, with high-profile participants such as Sachin Tendulkar and Shah Rukh Khan. Despite the interest, the IPO saw muted demand, closing with an overall subscription of 1.29x. Retail investors subscribed 1.58x, while qualified institutional buyers (QIBs) subscribed 1.43x, and the non-institutional investor quota was 84% subscribed. On September 7, 2026, the company’s red herring shares made a subdued market debut, listing at a discount to the issue price. On the National Stock Exchange (NSE), shares opened at ₹535, a 6.96% discount from the ₹575 issue price. On the Bombay Stock Exchange (BSE), the stock listed at ₹539, representing a 6.26% discount. At the BSE opening, the company’s market capitalization was approximately ₹4,315 crore. Financial risks noted in the company’s prospectus identified several risks, including included widening consolidated losses that reached of ₹285.40 crore in FY26 and an increase in total borrowings to of ₹371.40 crore. The business also faces Operational risks included a heavy reliance on womenswear, which accounted for 77.7 per cent of Pernia’s Pop-Up Shop GMV in FY26, as well as intellectual property disputes and international expansion risks. challenges.
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- 2026-09-07 06:07 UTC Purple Style Labs IPO and Market Debut
- 2026-08-31 07:44 UTC Purple Style Labs IPO
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