Pernia’s Pop-Up parent Purple Style Labs’ IPO sees 8% subscription on Day 1
Purple Style Labs’ ₹680 crore fresh issue drew bids for 5.59 lakh shares against 68.50 lakh offered. Retail investors subscribed 39% of their quota, while NII demand stood at 4% and QIB participation was below 1%.
What happened
Purple Style Labs, parent of luxury fashion platform Pernia’s Pop-Up Shop, saw its ₹680 crore fresh IPO subscribed 8% on day one. Proceeds will fund
Key facts
- IPO subscribed 8% on day 1
- 5.59 lakh shares bid versus 68.50 lakh shares offered
- Retail quota subscribed 39%: 4.85 lakh shares bid versus 12.45 lakh offered
- NII quota subscribed 4%: 74,126 shares bid versus 18.68 lakh offered
- QIB bids: 364 shares versus 37.36 lakh offered, under 1% subscription
- Price band ₹546-₹575 per share
- Upper-end valuation ₹4,604 crore
- Fresh issue size up to ₹680 crore
- IPO closes September 2; listing scheduled September 7
- 12 experience centres
- 1,109 active designer brands
- FY26 net loss ₹285.4 crore, up 51.5% from ₹188.4 crore
- FY26 operating revenue ₹557.8 crore, up nearly 14% from ₹489.9 crore
Why this matters
Weak QIB and NII demand may temper luxury-fashion sector deal benchmarks and give strategic buyers greater leverage in evaluating comparable assets.