loading
loading
Purple Style Labs share price made a weak debut on the bourses today, Monday, 7 September. On NSE, Purple Style Labs share price opened at ₹535 per share, 6.96% lower than the issue price of ₹575. On BSE, the stock opened at ₹539 apiece, down 6.26% than the issue price. The initial public offering (IPO) of Purple Style Labs Ltd, the parent company of Pernia’s Pop-Up Shop, was subscribed 1.29 times on the final day of bidding on Wednesday, according to data from the NSE. The issue received bids for 88,66,572 shares against the 68,49,816 shares on offer. The retail investor portion was subscribed 1.58 times, while the quota reserved for qualified institutional buyers (QIBs) was subscribed 1.43 times. The non-institutional investor (NII) segment was subscribed 84%. Ahead of the IPO, Purple Style Labs raised ₹306 crore from anchor investors on Friday. Founded and promoted by Abhishek Agarwal, Purple Style Labs operates a multi-brand luxury fashion omnichannel platform. Its publicly disclosed celebrity investors include Shah Rukh Khan, Salman Khan and his family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu. The company currently offers more than 2 lakh products from over 1,300 designers through its digital platform and 14 experience centres. Purple Style Labs IPO GMP today is -10. Considering the upper end of the IPO price band and the current discount in the grey market, the estimated listing price of Purple Style Labs share price was indicated at ₹565 apiece, which is 1.74% lower than the IPO price of ₹575. Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, said Purple Style Labs made a weak debut, listing at ₹535 on the NSE, around 7% below its issue price of ₹575. Nyati maintained an “Avoid” view on the stock, citing the company’s sharply widening losses. Purple Style Labs’ PAT loss increased from ₹47.7 crore in FY24 to ₹188.4 crore in FY25 and further to ₹285.4 crore in FY26, with no clear visibility on a path to profitability. She also pointed to the company’s high valuation, at around 9.3–9.6 times FY26 revenue, while P/E and P/B ratios remain less meaningful given its losses and negative net worth. According to Nyati, around 55% of the IPO proceeds are earmarked for lease liabilities, while another ₹138.9 crore is allocated towards marketing, leaving relatively limited funds for growth initiatives. “For existing investors, we suggest maintaining a stop loss at ₹500,” Nyati said. Overall, she believes the combination of widening losses, negative net worth and elevated valuation makes the stock’s risk-reward profile unattractive at current levels. Dr. Ravi Singh, Chief Research Officer at Master Capital Services Ltd, said Purple Style Labs Ltd made a weak debut in the Indian stock market, listing at ₹535 on the NSE, a 6.96% discount to its issue price of ₹575. On the BSE, the stock listed at ₹539, down 6.26% from the issue price. Singh noted that Purple Style Labs acquired Pernia’s Pop-Up Shop (PPUS) in February 2018, when the platform was primarily online. Since then, PPUS has expanded into a major multi-brand luxury omnichannel fashion platform in India by FY25 revenue, serving customers across India and overseas. The platform operates through experience centres, its website and mobile application, telephonic and digital sales channels, events and exhibitions. As of March 31, 2026, it offered curated luxury fashion from 1,109 active designer brands across 14 global experience centres — 12 in India, one in London and one in New York. Its large-format experience centres span around 20,000-60,000 sq ft in key luxury markets. According to Singh, India’s luxury market continues to present a strong growth opportunity, supported by rising incomes, higher discretionary spending and changing consumer aspirations among middle- and upper-income groups. The market was valued at around ₹1,499 billion in FY26 and is projected to reach ₹2,570 billion by FY31, implying a CAGR of about 11%. However, Singh cautioned that the weak listing could weigh on the stock’s near-term sentiment, while fresh investors may prefer to wait for greater price stability. “The outlook will depend on the company’s ability to sustain growth, improve profitability and strengthen cash generation,” he said. Purple Style Labs IPO comprises entirely a fresh issue of equity shares worth up to ₹680 crore, with no offer-for-sale (OFS) component. The company has set the IPO price band at ₹546-575 per share. At the upper end of the price band, the issue gives Purple Style Labs a market capitalisation of more than ₹4,600 crore. The company plans to allocate ₹371.13 crore of the IPO proceeds towards investments in its wholly owned subsidiary, PSL Retail. These funds will be used to meet lease liabilities for experience centres and back-end offices across India. Another ₹138.90 crore has been earmarked for sales and marketing activities, while the balance will be utilised for general corporate purposes. Axis Capital and IIFL Capital Services are acting as the book-running lead managers for the issue, while KFin Technologies is the registrar. Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions. Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
document fetched 2026-09-07 07:35 · canonical https://livemint.com/market/ipo/purple-style-labs-share-price-makes-a-weak-debut-stock-opens-with-a-7-discount-at-rs-535-apiece-on-nse-11788754436754.html