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Purple Style Labs Lists About 7% Below IPO Price

The weak debut raises questions about investor appetite because the company reported widening losses and plans to deploy most of the Rs 680 crore fresh issue for lease liabilities and sales and marketing.

Purple Style Labs has notable celebrity investors, including Shah Rukh Khan, Salmaan Khan, Madhuri Dixit and Sachin Tendulkar.

Overview

  • Shares opened at Rs 535 on the NSE and Rs 539 on the BSE on Monday, roughly 6–7% below the Rs 575 issue price.
  • The IPO was a fully fresh issue that raised Rs 680 crore and attracted an overall subscription of 1.29 times with QIBs at 1.43x, retail at 1.57x and NIIs at 0.84x.
  • Ahead of the public offer the company secured about Rs 306 crore from anchor investors including global banks, which bought 53.2 lakh shares at the issue price.
  • The company plans to use roughly Rs 371.1 crore of the proceeds to meet lease liabilities for its experience centres and about Rs 138.9 crore for sales and marketing.
  • Investors cited concern over profitability after FY26 results showed revenue rose to Rs 557.8 crore while consolidated net loss widened to Rs 285.4 crore, making the listing a test of appetite for loss-making luxury retail platforms.