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Purple Style Labs IPO: The Purple Style Labs IPO received a modest response from investors, ending its three-day bidding period with an overall subscription of 1.36 times. With the subscription process now complete, the focus has moved to the company’s stock market debut, which is scheduled for Monday, September 7, on the BSE and NSE. The public issue was open for bidding from August 31 to September 2, with the price band fixed at ₹546– ₹575 per equity share. Among the various investor categories, the qualified institutional buyers (QIB) segment was subscribed 1.5 times. Retail investors showed relatively stronger interest, with the retail individual investor (RII) quota subscribed 1.66 times, while the non-institutional investor (NII) category received bids for 0.89 times the shares on offer. As the listing date approaches, attention is now centred on the stock’s likely debut and whether investors can expect any listing gains over the upper end of the IPO price band. IPO GMP: The latest GMP is flat and stands at ₹2. Based on the upper end of the IPO price band and the prevailing grey market premium, the shares are estimated to list at around ₹577 apiece. This indicates a potential listing premium of just 0.35% over the IPO price of ₹575. The grey market premium (GMP) represents the additional amount that investors in the unofficial market are willing to pay over the IPO issue price. Purple Style Labs is set to make its stock market debut after completing the allotment process for its public issue, which comprised a fresh issue of 1.18 crore equity shares. The IPO did not include an offer-for-sale component, meaning the entire issue proceeds are intended to flow into the company. The basis of allotment was finalised on September 2, while successful bidders are expected to receive shares in their demat accounts on September 3, ahead of the listing. Applicants can verify their allotment status through the IPO registrar, Kfin Technologies, as well as the websites of the BSE and NSE. Purple Style Labs expects to receive net proceeds of ₹510.03 crore from the fresh issue. The largest allocation, ₹371.13 crore, will be infused into its wholly owned subsidiary, PSL Retail, primarily to address lease-related obligations for Experience Centres and back-end offices across the country. Another ₹138.90 crore has been earmarked for sales and marketing activities as the company looks to strengthen its brand, attract customers and support its expansion strategy. The remaining funds will be used for general corporate purposes. Axis Capital is the book-running lead manager for the IPO, while Kfin Technologies is handling the registrar functions. Beyond its business operations, Purple Style Labs has generated interest because of its well-known investor base. The company's shareholders include Shah Rukh Khan, Madhuri Dixit and Sachin Tendulkar, along with Salman Khan and members of his family. Actor Mahesh Babu is also among the publicly disclosed celebrity investors. Purple Style Labs operates Pernia's Pop-Up Shop, a luxury multi-brand fashion platform that combines online operations with physical retail. The company brought the platform into its fold in February 2018, at a time when its business was largely focused on digital sales. The business has since expanded its offline presence. As per the DRHP, Pernia's Pop-Up Shop had 14 Experience Centres across India and London, while additional locations in Mumbai and New York were also part of its expansion plans. The company's growth has been particularly visible in its revenue trajectory. While Purple Style Labs reported a loss in FY2026, according to its restated consolidated financial statements, its revenue expanded sharply over the preceding years. Revenue rose from ₹45 crore in FY20 to ₹508 crore in FY24—an increase of more than 11 times and a compound annual growth rate of approximately 83%. Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions. Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels. 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.
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