Purple Style Labs slides on debut

Shares of Purple Style Labs were currently trading at Rs 573 at 10:10 IST on the BSE, representing a discount of 0.35% as compared with the issue price of Rs 575.

The stock debuted at Rs 539 on the BSE, a discount of 6.26% over its issue price.

So far, the stock has hit a high of Rs 588.10 and a low of Rs 516. On the BSE, over 3.55 lakh shares of the company were traded in the counter so far.

Purple Style Labs was subscribed 1.29 times. The issue opened for bidding on 31 August 2026 and closed on 2 September 2026. The price band of the IPO is fixed between Rs 546 and 575 per share.

The IPO was entirely a fresh issue of shares worth Rs 680 crore. At the upper price band of Rs 575, the fresh issuance comprised 1,18,26,087 shares. There was no offer for sale (OFS) component.

The funds raised to the tune of Rs 371.12 crore were used towards investment in the company?s wholly owned subsidiary, PSL Retail, for expenditure towards lease liabilities of experience centers and back-end offices in India. Rs 138.9 crore was utilised towards funding sales and marketing expenses incurred by the company, while the balance was used for general corporate purposes.

Ahead of the IPO, Purple Style Labs (PSL) on Friday, 28 August 2026, raised 305.99 crore from anchor investors. The board allotted 53.21 lakh shares at Rs 575 each to 10 anchor investors.

Purple Style Labs (PSL) is a multi-brand luxury omni-channel fashion platform operating under Pernia?s Pop-Up Shop (PPUS), offering a curated portfolio of luxury fashion products across womenswear, menswear, jewellery, accessories and kidswear, with a focus on wedding and occasion wear.

PSL operates through an omni-channel business model comprising experience centers, its website, mobile application, telephonic and digital sales channels, events and exhibitions.

As of 31st March 2026, PSL sources products from 1,109 active designer brands, including Seema Gujral, Anushree Reddy, Amit Aggarwal and Rohit Gandhi & Rahul Khanna. The company operated 14 experience centres globally as of 31 March 2026, with 12 located in India and one each in London, UK, and New York, USA.

The firm reported a consolidated net loss of Rs 285.40 crore and sales of Rs 557.84 crore for the twelve months ended on 31 March 2026.

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