Purple Style Labs IPO subscribed 1.36 times, listing September 7
Purple Style Labs, the name behind Pernia's Pop-Up Shop, just wrapped up its IPO, which was subscribed 1.36 times by September 2.
Most of the buzz came from regular retail investors, while big institutions showed solid interest too.
The shares are set to list on BSE and NSE on September 7, with a price range of ₹546-₹575 per share.
Early signs suggest only a tiny listing gain, with the expected opening at around ₹577.
Purple Style Labs raised ₹510cr
The company raised about ₹510 crore through this IPO. Most of that is going toward store leases for its PSL Retail arm and boosting marketing to grow the brand.
Even though they posted losses in FY2026, their revenue has skyrocketed, from ₹45 crore in FY20 to ₹508 crore in FY24, showing just how fast they're growing in India's luxury fashion scene.