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Purple Style Labs shares list at 7% discount on NSE; here's how much investors lost per lot

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 September 07, 2026, 10:15 IST

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SUMMARY

Purple Style Labs IPO comprised entirely of a fresh issue of equity shares aggregating up to ₹680 crore, with no offer-for-sale component.

Purple Style Labs Ltd is a luxury fashion omni-channel platform operating under the brand name 'Pernia's Pop-Up Shop'. | Image: purplestylelabs.com

Purple Style Labs Ltd is a luxury fashion omni-channel platform operating under the brand name 'Pernia's Pop-Up Shop'. | Image: purplestylelabs.com

Shares of Purple Style Labs Ltd, the parent company of Pernia's Pop-Up Shop, listed at ₹535 apiece on the National Stock Exchange (NSE) on Monday, September 7. This reflects a discount of 6.96% to the issue price of ₹575 a unit.
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On the BSE, the stock debuted at ₹539 per share, down 6.26% from the issue price.

Purple Style Labs IPO allotment: Here's how much investors lost per lot

A lot consisted of 26 shares and cost ₹14,950 per lot. Investors who received the Purple Style Labs IPO allotment lost ₹1,040 per lot, taking the value of their investment to ₹13,910, as per the listing price on the NSE.

The initial public offer comprised entirely a fresh issue of equity shares aggregating up to ₹680 crore, with no offer-for-sale component.

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The company intends to use ₹371.13 crore of IPO proceeds for investment in its wholly owned unit, PSL Retail, towards lease liabilities of experience centres and back-end offices in India, while ₹138.90 crore will be utilised for sales and marketing expenses. The remaining funds will be used for corporate general purposes.

The initial share sale received 1.29 times subscription, as it got bids for 88,66,572 shares compared to 68,49,816 shares on offer, as per details available with the NSE.

The portion for retail investors received 1.58 times subscription, while the quota for qualified institutional buyers (QIBs) was booked 1.43 times. The category for non-institutional investors got subscribed 84%.

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

Promoted by Abhishek Agarwal, Purple Style Labs operates a multi-brand luxury fashion omni-channel platform.

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

Axis Capital and IIFL Capital Services were the book running lead managers to the issue, while KFin Technologies was the registar.

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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