Purple Style Labs IPO Subscribed 24% on Second Day
The public issue of Purple Style Labs (PSL) IPO closed its second day of bidding with a subscription of 24%. The company is seeking to list on both NSE and BSE.
The initial public offering (IPO) for Purple Style Labs (PSL), the parent company of Pernia's Pop Up Shop, achieved a 24% subscription rate by the end of its second bidding day. Data from the Bombay Stock Exchange (BSE) shows that 16.18 lakh shares were subscribed against the 68.50 lakh shares on offer.
Retail investors showed the most significant interest, subscribing 93% of their allocated portion. They placed bids for 11.63 lakh shares out of the 12.45 lakh reserved for them.
Non-institutional investors (NIIs) subscribed 13% of their quota, with bids for 2.39 lakh shares against 18.68 lakh available. Qualified institutional buyers (QIBs) showed limited interest, subscribing only 6% of their portion, totaling 2.16 lakh shares against 37.36 lakh.
The IPO's price band was set between ₹546-₹575, with a lot size of 26 shares. Purple Style Labs operates the luxury omnichannel fashion platform Pernia's Pop-Up Shop, featuring 1,109 designer brands and selling through its website and 12 experience centers. The company reported a consolidated net loss of ₹285.4 crore for the fiscal year ended March 2026, an increase of 51.5% from the previous year, while operating revenue rose nearly 14% to ₹557.8 crore.