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  5. Purple Style Labs IPO subscribed 5% so far on Day 1: Check price band, lot size and key dates

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Purple Style Labs IPO subscribed 5% so far on Day 1: Check price band, lot size and key dates

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
By Kamal Joshi

3 min read | Updated on August 31, 2026, 11:49 IST

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SUMMARY

The ₹680 crore Purple Style Labs IPO is only a fresh issuance of 1.18 crore shares, without an offer for sale (OFS) component.

Pernia's Pop-Up Shop offers more than 2 lakh products from more than 1,300 designers through its digital platform and 14 experience centres. | Image: purplestylelabs.com

Pernia's Pop-Up Shop offers more than 2 lakh products from more than 1,300 designers through its digital platform and 14 experience centres. | Image: purplestylelabs.com

The initial public offering of Pernia's Pop-Up Shop parent, Purple Style Labs Ltd, has been subscribed 5% so far on the first day of bidding on Monday, August 31. The issue will end on September 2.

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The IPO received bids for 3,42,472 shares compared to 68,49,816 shares on offer, according to the NSE data until 11:44 am.

The quota for non-institutional investors garnered 2% subscription, while the retail portion was booked 25%. The qualified institutional buyers (QIBs) category is yet to receive any bids.

The ₹680 crore initial share sale is only a fresh issuance of 1.18 crore shares, without an offer for sale (OFS) component.

Funds to the tune of ₹371.13 crore will be used for investment in its wholly owned unit, PSL Retail, towards domestic lease liabilities of experience centres and back-end offices, while ₹138.90 crore will be utilised for sales and marketing expenses. The rest will be used for general corporate purposes.

Purple Style Labs IPO: Price band and lot size

The price band has been fixed at ₹546 to ₹575 per share. Retail investors can bid for 26 shares and in multiples thereafter.

Upcoming IPOs: Deepa Jewellers, Rays of Belief, 5 other issues to open this week, 14 listings scheduled

Purple Style Labs IPO: Allotment and listing date

EventDate
Subscription periodAugust 31 to September 2
Basis of allotmentSeptember 3
Initiation of RefundsSeptember 4
Credit of Shares to DematSeptember 4
Listing dateSeptember 7

Before the IPO, the company raised ₹306 crore from anchor investors, including ICICI Prudential Mutual Fund, Aditya Birla Sun Life Insurance Company Ltd, Jupiter India Fund, ITI Mutual Fund, Jupiter India Fund, Singularity Equity Fund I, Integrated Core Strategies (Asia) Pte Ltd, BoFA Securities Europe SA ODI and Morgan Stanley Asia (Singapore) Pte, among others.

Purple Style Labs Ltd, which is promoted by Abhishek Agarwal, operates a multi-brand luxury fashion omni-channel platform.

The company provides over 2 lakh products from more than 1,300 designers through its 14 experience centres and digital platform.

IIFL Capital Services and Axis Capital are the issue's book-running lead managers, while KFin Technologies is the registrar.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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