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Purple Style Labs Ltd makes a subdued market debut, with the shares being listed at a discount of 6.96 per cent.
Purple Style Labs IPO Listing.
Purple Style Labs IPO Listing: Purple Style Labs Ltd, the parent company of Pernia’s Pop-Up Shop, on Monday made a subdued market debut, with the shares being listed at a discount of 6.96 per cent. In the pre-market, the stock was listed at Rs 535 on the NSE, compared with the IPO issue price of Rs 575. On the BSE, the shares were listed at Rs 539 apiece.
The Purple Style Labs IPO was open for public subscription between August 31 and September 2, and received an overall 1.29 times subscription. The portion for retail investors received 1.58 times subscription, while the category for qualified institutional buyers (QIBs) was subscribed 1.43 times. The quota for non-institutional investors got subscribed 84 per cent.
Purple Style Labs IPO Listing Price: Should You Buy, Sell Or Hold?
Shivani Nyati, head of wealth at Swastika Investmart Ltd, said, “Purple Style Labs made a weak debut, listing at Rs 535 on the NSE, around 7% below its Rs 575 issue price. Our view remains Avoid, as the company’s PAT loss has widened sharply from Rs 47.7 crore in FY24 to Rs 188.4 crore in FY25 and Rs 285.4 crore in FY26, with no clear path to breakeven. Valuation also looks expensive at around 9.3-9.6x FY26 revenue, while P/E and P/B are not meaningful due to losses and negative net worth.”
She also added that around 55% of IPO proceeds will be used for lease liabilities and Rs 138.9 crore for marketing, leaving limited funds for growth.
“For existing investors, we suggest keeping a stop loss at Rs 500. Overall, widening losses, negative net worth and high valuation make the risk-reward unattractive at current levels,” Nyati said.
Purple Style Labs Ltd on Friday raised Rs 306 crore from anchor investors. The public offer comprises entirely a fresh issue of equity shares aggregating up to Rs 680 crore, with no offer-for-sale component. The price band for the IPO has been fixed at Rs 546-575 per share.
At the upper end of the price band, the issue values Purple Style Labs at a market capitalisation of over Rs 4,600 crore. The company plans to utilise Rs 371.13 crore of IPO proceeds for investment in its wholly owned subsidiary PSL Retail towards lease liabilities of experience centres and back-end offices in India, while Rs 138.90 crore will be used for sales and marketing expenses. The remaining proceeds will be utilised for general corporate purposes.
Purple Style Labs, promoted by Abhishek Agarwal, operates a multi-brand luxury fashion omni-channel 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.
Axis Capital and IIFL Capital Services are the book running lead managers to the issue, while KFin Technologies is the registrar.
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Ask News18Purple Style Labs shares listed at Rs 535 on the NSE and Rs 539 on the BSE. This represented a discount of 6.96 percent on the NSE and 6.26 percent on the BSE, compared to the IPO issue price of Rs 575.
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September 07, 2026, 10:00 IST
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