IPOs Next Week: Purple Style Labs, Deepa Jewellers Among 7 Issues Opening For Subscription

The primary market is set for another busy week, with at least seven IPOs scheduled to open for subscription. The line-up includes three mainboard issues- Purple Style Labs, Deepa Jewellers and Rays of Belief along with four SME offerings from Ashutosh Fibre, Shanti Inorganics, Phychem Technologies and Farm Peace.

The week will also see a long list of IPO listings, including Augmont Enterprises, Hy-Tech Engineers, Skyways Air Services, Symbiotec Pharmalab, Annu Projects, ESDS Software Solution, ABH Healthcare, Madhur Knit, Sumax Engineering, Kwick Forensic Solutions, Lumino Industries, Priority Jewels, Paluck Technologies and Complete Sports and Management.

Purple Style Labs IPO

Purple Style Labs, the company behind Pernia's Pop-Up Shop, will open its Rs 680 crore IPO on August 31. The issue will remain open until September 2, with the price band fixed at Rs 546-575 per share.

The IPO is entirely a fresh issue of 1.18 crore shares and does not have an offer-for-sale component. One lot comprises 26 shares, with bids allowed in multiples thereafter.

The company plans to use the proceeds for investments in its wholly owned subsidiary PSL Retail, including lease payments for experience centres and back-end offices. Part of the funds will also go towards sales and marketing expenses and general corporate purposes.

Pernia's Pop-Up Shop operates as a multi-brand luxury fashion platform, selling menswear, womenswear, kidswear, accessories and jewellery, with a particular focus on wedding and occasion wear. Its digital platform offers more than 2 lakh products from over 1,300 designers, supported by 14 experience centres.

Deepa Jewellers IPO

Deepa Jewellers will follow with its Rs 460 crore IPO, which will open on September 1 and close on September 3. The company has fixed the price band at Rs 168-177 per share.

The issue includes a fresh share sale of Rs 250 crore and an OFS of more than 1.18 crore shares worth Rs 209.72 crore by promoters Ashish Agarwal and Seema Agarwal.

Money raised through the fresh issue will be used to meet long-term working capital requirements, including procurement, maintenance and scaling up of inventory. The company will also use a portion for general corporate purposes.

The minimum retail bid is 84 shares, with investors able to bid in multiples thereafter.

Established in 2016, Deepa Jewellers is a B2B designer, processor and supplier of hallmarked gold jewellery.

Rays of Belief IPO

Rays of Belief, which operates under the Mom's Belief brand, will also open its IPO on September 1. The issue will close on September 3 and has a price band of Rs 227-239 per share.

The IPO consists entirely of a fresh issue of up to 52.30 lakh equity shares, aggregating to Rs 125 crore. The lot size has been fixed at 62 shares.

The company plans to use the proceeds to expand its operations, including setting up 319 new centres between FY27 and FY29. The funds will also go towards capital expenditure, including therapy-material inventory, centre fit-outs and technology hardware.

Rays of Belief operates as a for-profit social enterprise under the Mom's Belief brand, providing personalised intervention plans for children with neurodevelopmental disorders. Its services cover conditions including ADHD, Down Syndrome, autism spectrum disorder, cerebral palsy, learning disabilities, intellectual disability and global developmental delays.

Also Read - Pushp Brand IPO Gets Sebi Nod: Promoters, Investors To Sell 74.45 Lakh Shares