Purple Style Labs Ltd IPO Listing: Shares List At A Discount
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Purple Style Labs shares began trading at a discount on stock exchanges. The IPO had attracted a muted response from investors during the bidding period. Read more.
Purple Style Labs shares started trading at a discount on both exchanges. The stock listed at ₹535 on the National Stock Exchange (NSE), marking a 6.96% discount to its issue price. It debuted at ₹539 on the Bombay Stock Exchange (BSE), at a discount of 6.26%.
Purple Style Labs IPO And Subscription Details
Purple Style Labs’ initial public offering (IPO), which carried a price band of ₹546–₹575 per share, consisted solely of a fresh issue of 1.18 crore equity shares. There was no offer-for-sale component.
Purple Style Labs IPO received an overall subscription of 1.29 times, with bids for around 88.66 lakh shares against 68.49 lakh shares on offer. Retail investors led the demand with 1.58 times subscription, while the qualified institutional buyer (QIB) portion was subscribed 1.43 times. The non-institutional investor (NII) category was subscribed 84%.
Axis Capital and IIFL Capital Services were the book-running lead managers of the issue, while KFin Technologies was the registrar.
About Purple Style Labs
Promoted by Abhishek Agarwal, Purple Style Labs operates Pernia’s Pop-Up Shop, a multi-brand luxury fashion platform. It retails designer products across women’s and men’s wear, jewellery and accessories through its online platform and physical experience centres.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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