Purple Style Labs Limited IPO
ListedMainboardTrading
1.36×
Subscribed
Price band
₹546 – ₹575
Lot size
26
1 lot = ₹14,950
Issue size
₹680 Cr
Open – close
31 Aug 2026
to 02 Sept 2026
Listing
07 Sept 2026
Listing gain
-6.96%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Weak7 of 7 dimensions read
The disclosed numbers are weak — 4 of 7 signals read negative
Strength33/100
- Loss-making at IPONo positive earnings, so there is no P/E to price against — the offer rests entirely on future profitability
- Slow revenue growthRevenue compounding at only 5.2%
- Not yet profitableThe restated accounts show a loss in the latest reported period
- Conservative balance sheetDebt/equity of 0.59×
- Fresh capital for the business100.0% of the issue is fresh capital raised by the company itself
- 1 high-severity disclosureThe latest restated fiscal year reports a net loss.
- Institutional book coveredQIB portion subscribed 1.50×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens31 Aug 2026
- Closes02 Sept 2026
- Allotment03 Sept 2026
- Listing07 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.50x
Non-institutionalNII / HNI0.89x
Big NIIabove ₹10L1.06x
Small NII₹2L – ₹10L0.55x
Retail individualRII1.66x
64,313 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 02 Sept 2026.
Chance of allotment
Retail1.66× subscribed
~1 in 1.7
Minimum 1 lot · 26 shares · ₹14,950 blocked
Retail is 1.66× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 1.7 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII0.89× subscribed
Full allotment
Minimum 14 lots · 364 shares · ₹2,09,300 blocked
The HNI portion is under-subscribed at 0.89×, so applications should be allotted in full.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
Grey market premium
Unofficial dealer quotes — not published by NSE, BSE, SEBI or the company
₹34+5.9%
over the upper band · last seen 08 Sept 2026
What this number is not. Grey-market premium is an unregulated, thinly-traded quote from private dealers. It is not a forecast of the listing price, it is not verifiable, and it can be moved by the same people who benefit from it looking high. We publish it because you will look it up anyway — and we deliberately do not convert it into an expected listing gain, because that arithmetic implies a reliability the number has never earned. For what actually happened to comparable issues, see recent outcomes below.
The offering
Terms, structure and who is selling
Terms
Price band₹546 – ₹575
Face value₹10
Lot size26shares
Minimum application₹14,950at cut-off
Total issue size₹680 Cr
Fresh issue₹680 Cr
Listing atMainboard
Anchor investorsAllotted
Company & valuation
Debt / equity0.59×
ROCE-23.56%
PAT Margin-51.16%
EBITDA Margin5.44%
NAV-7.69
ISININE0I1B01016
RegistrarKARVY
Lead managersAxis Capital Limited, IIFL Capital Services Limited
0.0% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 88,69,566 | — |
| Anchor Investor | 53,21,739 | — |
| QIB (Ex. Anchor) | 35,47,827 | — |
| NII (HNI) | 17,73,912 | — |
| bNII > ₹10L | 11,82,608 | 3248.00% |
| sNII < ₹10L | 5,91,304 | 1624.00% |
| Retail | 11,82,608 | 45484.00% |
Total issue 1,18,26,086 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Retail (Min)₹14,9501 lot · 26 sh
Retail (Max)₹1,94,35013 lots · 338 sh
S-HNI (Min)₹2,09,30014 lots · 364 sh
S-HNI (Max)₹9,86,70066 lots · 1,716 sh
B-HNI (Min)₹10,01,65067 lots · 1,742 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted53,21,739
Anchor portion₹306 Cr
Bid date28 Aug 2026
Lock-in ends (50%)02 Oct 2026
Lock-in ends (rest)01 Dec 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Investment in our wholly owned Subsidiary, PSL Retail for expenditure towards lease liabilities of Experience Centers, and back-end offices in India₹371.13 Cr
- 02Funding towards sales and marketing expenses to be incurred by our Company₹138.9 Cr
- 03General corporate purposes₹103.13 Cr
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 504.373 | — | -47.71 | 39.51 | — |
| 2025 | 489.909 | — | -188.383 | 117.497 | — |
| 2026 | 557.838 | — | -285.399 | -52.278 | — |
Revenue CAGR 5.2%
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
Loss-makinghigh
The latest restated fiscal year reports a net loss.
mediumThe Company has incurred losses and has negative retained earnings of ₹7,102.86 million as of March 31, 2026, and has experienced negative net cash flows from operating activities in the past. Continued losses or negative cash flows could adversely affect results of operations, financial condition,
mediumThe Company derives a substantial portion of its Total PPUS GMV from the womenswear category (77.70%, 75.66% and 77.88% in Fiscals 2026, 2025 and 2024). Variations in demand and changes in consumer preference for womenswear could have a material adverse effect on the business.
mediumThe Company has incurred negative cash flows from operating activities in Fiscals 2024, 2025, and 2026, primarily due to the shift in strategy towards Large Format Experience Centres, which resulted in upfront working capital costs (security deposits, GST input credit, inventory) while corresponding
mediumThe Company has realized impairment losses on its investment in its Subsidiary, Purple Style Labs UK Limited. Any decrease or delay in generating additional revenue from offshore subsidiaries could result in substantial operating losses, adversely affecting results of operations and financial condit
Positives the filing discloses (1)
Primarily fresh capital
100% of the offer is fresh issue, so most proceeds fund the company.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+6.1%
Listed up
6 of 8
Best
+65.4%
Orient Cables (India) Limited
Worst
-2.3%
Vishal Nirmiti Limited
Fusion CX Limitedsame segment
4.5× sub+5.5%
HD Fire Protect Limitedsame segment
131.7× sub+23.6%
Nityas Gems and Jewellery Limitedsame segment
2.3× sub+6.7%
Vishal Nirmiti Limitedsame segment
1.7× sub-2.3%
Shah Investor's Home Limitedsame segment
38.1× sub+2.4%
Srit India Limitedsame segment
125.2× sub+13.8%
Runwal Enterprises Limitedsame segment
2.5× sub+0.0%
Orient Cables (India) Limitedsame segment
92.3× sub+65.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Purple Style Labs Limited
Purple Style Labs Limited is a multi-brand luxury fashion platform serving customers in India and international markets through online and physical channels. Its product categories include womenswear, menswear, jewellery, accessories, and kidswear, with a focus on wedding and occasion wear. As of March 31, 2026, the platform offered products from 1,109 active designer brands. Customers can purchase products through the company’s website, mobile application, telephonic and digital sales channels, experience centres, and events and exhibitions. The company operates 14 experience centres globally, including 12 in India, one in London and one in New York. Its Indian experience centres are located in Mumbai, Delhi, Bengaluru, Chennai, Kolkata, Ahmedabad, Indore, Hyderabad, and Surat. The company also operates large format experience centres ranging from 20,000 to 60,000 square feet in built-up area in Mumbai, Delhi, and New York. Pernia’s Pop-Up Shop acquired its website and related business assets and intellectual property in February 2018.
Founded 2015MD Abhishek AgarwalSector Trading
Offer documents
The primary sources everything above is drawn from
Common questions
What is the Purple Style Labs Limited IPO GMP today?
The most recent grey-market premium recorded for Purple Style Labs Limited is ₹34 per share — about 5.9% over the ₹575 upper band. Grey-market premium is an unofficial, unregulated quote from private dealers. It is not published by NSE, BSE, SEBI or the company, and it is not a forecast of the listing price.
How many times is the Purple Style Labs Limited IPO subscribed?
Purple Style Labs Limited is subscribed 1.36× overall (QIB 1.50×, NII 0.89×, retail 1.66×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, KARVY.
What is the minimum investment in the Purple Style Labs Limited IPO?
One lot is 26 shares, so a retail application at the ₹575 cut-off price blocks ₹14,950. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Purple Style Labs Limited IPO?
The retail portion is subscribed 1.66×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 2. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Purple Style Labs Limited IPO allotment date?
Allotment is scheduled for 2026-09-03, with listing on 2026-09-07. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, KARVY.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.