PURPLE STYLE LABS LTD IPO: Company Review, Subscription and Allotment Updates
2026-08-29 — Company overview and issue details PURPLE STYLE LABS LTD IPO (ABOUT THE COMPANY) PURPLE STYLE LABS LTD – COMPANY BACKGROUND Purple Style Labs Ltd was incorporated in 2015 and is engaged in running a multi-brand luxury,…
2026-08-29 — Company overview and issue details
PURPLE STYLE LABS LTD IPO (ABOUT THE COMPANY)
PURPLE STYLE LABS LTD – COMPANY BACKGROUND
Purple Style Labs Ltd was incorporated in 2015 and is engaged in running a multi-brand luxury, omni-channel fashion platform. It operates under the brand name of Pernia’s Pop-Up Shops (PPUS). It offer a suite of luxury products across womenswear, menswear, jewellery, and accessories. The focus is largely on fashion for weddings and special occasions. It procures its products from over 1,100 active designer brands across India. It has 14 experience galleries, of which 12 are in India and two abroad. For FY26, it served more than 2 lakh customers and had gross merchandise value (GMV) of ₹75,500 crore.
The promoters of Purple Style Labs Ltd is Abhishek Agarwal. The IPO will be entirely a fresh issue of shares with no offer for sale (OFS) component. The fresh issue funds will be used for investment in its subsidiary (PSL Retail), lease liabilities of its experience centres, sales & marketing expenses, and for general corporate purposes. The issue is being lead-managed by Axis Capital and IIFL Capital ; while KFIN Technologies Ltd (KFINTECH) is the IPO registrar.
HIGHLIGHTS OF THE IPO ISSUE OF PURPLE STYLE LABS LTD
Here are the key highlights of the public issue of Purple Style Labs Ltd.
The IPO is open from August 31st, 2026 to September 02nd, 2026. It has a face value of ₹10 per share and IPO price band has been fixed in the range of ₹546 to ₹575 per share.
The IPO of Purple Style Labs Ltd will be purely a fresh issue of shares with no offer for sale of shares by the promoter or the investor shareholders.
The Fresh Issue portion of the IPO comprises the issue of 1,18,26,086 shares (118.26 lakh shares), which at the upper price band of ₹575 per share, translates into a fresh issue size of ₹680.00 crore.
Since there is no OFS, the overall IPO will also comprise of the fresh issue portion comprising of 1,18,26,086 shares (118.26 lakh shares), which at the upper price band of ₹575 per share translates into overall issue size of ₹680.00 crore.
Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 28.26% pre-IPO to 24.08% post-IPO.
The IPO of Purple Style Labs Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on August 28, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Purple Style Labs Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Monday, 31 August, 2026 |
| IPO Close Date | Wednesday, 2 September, 2026 |
| Basis of Allotment | Thursday, 3 September, 2026 |
| Initiation of Refunds to non-allottees | Friday, 4 September, 2026 |
| Credit of Shares to Demat | Friday, 4 September, 2026 |
| Listing Date on NSE and BSE | Monday, 7 September, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | 53,21,739 shares | 43.72% of total IPO size |
| QIB Shares Offered | 37,36,264 shares | 30.70% of total IPO size |
| NII (HNI) Shares Offered | 18,68,131 shares | 15.35% of total IPO size |
| Retail Shares Offered | 12,45,421 shares | 10.23% of total IPO size |
| Total Shares Offered | 1,21,71,555 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Purple Style Labs Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 26 | ₹ 14,950 |
| Retail (Max) | 13 | 338 | ₹ 1,94,350 |
| S-HNI (Min) | 14 | 364 | ₹ 2,09,300 |
| S-HNI (Max) | 66 | 1,716 | ₹ 9,86,700 |
| B-HNI (Min) | 67 | 1,742 | ₹ 10,01,650 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 26 shares)
FINANCIAL HIGHLIGHTS OF PURPLE STYLE LABS LTD
The table captures the key financials of Purple Style Labs Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 557.84 | 489.91 | 504.37 |
| Sales Growth (%) | 13.87% | -2.87% | |
| Profit after Tax (₹ in crore) | -285.40 | -188.38 | -47.71 |
| PAT Margins (%) | -51.16% | -38.45% | -9.46% |
| Total Equity (₹ in crore) | -52.28 | 117.50 | 39.51 |
| Total Assets (₹ in crore) | 829.60 | 497.05 | 458.39 |
| Return on Equity (%) | 545.93% | -160.33% | -120.75% |
| Return on Assets (%) | -34.40% | -37.90% | -10.41% |
| Asset Turnover Ratio (X) | 0.67 | 0.99 | 1.10 |
| Earnings per share (₹) | -41.98 | -29.00 | -7.46 |
| EBITDA (₹ in Crore) | 30.37 | 41.99 | 31.63 |
| EBITDA Margins (%) | 5.44% | 8.57% | 6.27% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The company has been a loss-making company and hence most of the profitability ratios may not add much value in understanding the company. It must be noted that in the latest financial year (FY26), the equity of the company has also dipped into the negative zone due to the impact of accumulated losses.
VALUATION METRICS OF PURPLE STYLE LABS LTD IPO
Since the company is loss making over the last 3 years, any view on valuations may not too relevant here. However, the company does bring some strengths to the table. It has been one of the fastest growing multi-brand luxury outlets in India and the omnichannel approach integrates its offline and online presence seamlessly. It has established long-term relationships with clients as well as with the designers who supply the designs. Its presence in London and New York also gives it a global presence.
However, there are some points to ponder. Firstly, the equity infusion will be used to rectify the negative equity in the current balance sheet. Secondly, intangible right to use assets are nearly 50% of its asset base. On the liabilities side, short term borrowings and lease liabilities account for over 85% of its total balance sheet size. Above all, the huge losses in the last 2 years have been aggravated by the expensing of ESOP costs. The question that equity investors need to ask is; what is left on the table for them after all this? Investment in the IPO is advisable only after investors can figure out an answer to this question.
2026-08-29 — Anchor allocation
PURPLE STYLE LABS LTD IPO (ANCHOR ALLOCATION 43.72%)
BRIEF ON ANCHOR ALLOCATION OF PURPLE STYLE LABS LTD
The anchor issue of Purple Style Labs Ltd saw a strong response on 28th August 2026 with 43.72% of the IPO size absorbed by anchors. Out of 1,21,71,555 shares (121.72 lakh shares) on offer in the IPO; anchors picked up 53,21,739 shares (53.22 lakh shares) accounting for 43.72% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹575 per share. This includes the face value of ₹10 per share plus a share premium of ₹565 per share. The anchor bidding opened and closed on 28th August 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of Purple Style Labs Ltd
| Bid Date | August 28, 2026 |
|---|---|
| Shares Offered | 53,21,739 shares |
| Anchor Portion Size (₹ in crore) | ₹306.00 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Oct 02, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Dec 01, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN PURPLE STYLE LABS LTD
On 28th August 2026, Purple Style Labs Ltd allotted 53,21,739 shares to a total of 10 anchor investors. The allocation was done at the upper IPO price band of ₹575 per share which resulted in overall anchor allocation of ₹306.00 crore. The anchors have already absorbed 43.72% of the total issue size of ₹699.86 crore, after factoring in the employee discount offered in the IPO, if any.
Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹306.00 crores, or, 100.00% of the overall anchor allocation of shares, one trading day ahead of the IPO of Purple Style Labs Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | ICICI Pru Small Cap Fund | 15,30,412 | 28.76% | ₹ 88.00 |
| 02 | ABSL Life Insurance Company | 11,82,584 | 22.22% | ₹ 68.00 |
| 03 | Jupiter India Fund | 8,63,746 | 16.23% | ₹ 49.67 |
| 04 | BOFA Securities Europe - ODI | 4,86,954 | 9.15% | ₹ 28.00 |
| 05 | Jupiter Global India Select Fund | 4,40,596 | 8.28% | ₹ 25.33 |
| 06 | Integrated Core Strategies Asia | 2,60,858 | 4.90% | ₹ 15.00 |
| 07 | Morgan Stanley Asia (Singapore) | 1,73,914 | 3.27% | ₹ 10.00 |
| 08 | Singularity Equity Fund - I | 1,73,895 | 3.27% | ₹ 10.00 |
| 09 | ITI Multi-Cap Fund | 1,04,390 | 1.96% | ₹ 6.00 |
| 10 | ITI Flexi Cap Fund | 1,04,390 | 1.96% | ₹ 6.00 |
| Grand Total | 53,21,739 | 100.00% | ₹ 306.00 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 53,21,739 shares allocated to the anchors in the IPO, there was an allocation of 17,39,192 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 3 MF schemes of 2 asset management companies (AMC). Mutual funds accounted for 32.68% of the overall anchor allocation.
Out of the 53,21,739 shares allocated to the anchors in the IPO, there was an allocation of 11,82,584 shares made to 1 life insurance company regulated by IRDAI. Life Insurers accounted for 22.22% of the overall anchor allocation.
The remaining anchor allocation was spread across FPIs, ODIs, and alternate investment funds (AIFs).
NEXT STEPS IN PURPLE STYLE LABS LTD IPO
Post the closure of the IPO subscription on 02nd September 2026, the basis of allotment will be finalized on 03rd September 2026 and the refunds will be initiated on 04th September 2026. In addition, the demat credits are expected to also happen on 04th September 2026 and the stock will list on 07th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 04th September 2026 under ISIN (INE0I1B01016).
2026-09-02 — Day-3 subscription update
Purple Style Labs Ltd (Day-3 Final Subscription at 1.29 times)
PURPLE STYLE LABS LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.20 pm on 02nd September 2026, out of the 68.50 lakh shares on offer in the IPO (excluding anchor portion), Purple Style Labs Ltd saw bids for 88.55 lakh shares. This implies an overall subscription of 1.29X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Purple Style Labs Ltd was as under:
| Employees (N.A.) | QIBs (1.43X) | HNI / NII (0.84X) | Retail (1.57X) |
|---|
The subscriptions were led by the Retail Investors followed by the QIB investors and the HNI / NII investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. However, the QIB portion got just about subscribed on the last day, while the HNI / NII portion actually got undersubscribed. This is despite the company seeing steady anchor participation a day ahead of the IPO opening with 43.72% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 53,21,739 | 53,21,739 | 306.00 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 1.43 | 37,36,264 | 53,27,218 | 306.32 |
| HNIs / NIIs | 0.84 | 18,68,131 | 15,70,608 | 90.31 |
| Retail Investors | 1.57 | 12,45,421 | 19,57,072 | 112.53 |
| Total | 1.29 | 68,49,816 | 88,54,898 | 509.16 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Purple Style Labs Ltd was open up to September 02, 2026, and has closed for subscription as of the close of trading hours on September 02, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹815.16 crore.
NEXT STEPS IN THE PURPLE STYLE LABS LTD IPO
Post the closure of the IPO subscription on 02nd September 2026, the basis of allotment will be finalized on 03rd September 2026 and the refunds will be initiated on 04th September 2026. In addition, the demat credits are expected to also happen on 04th September 2026 and the stock will list on 07th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 04th September 2026 under ISIN (INE0I1B01016).
2026-09-02 — Allotment guidance and next steps
Purple Style Labs Ltd (How to check allotment status online)
ABOUT THE PURPLE STYLE LABS LTD IPO
The IPO of Purple Style Labs Ltd opened on August 31st, 2026 and closed on September 02nd, 2026. The IPO comprised entirely of a fresh issue portion of 1,21,71,555 shares (121.72 lakh shares) worth ₹699.86 crore at the upper band price of ₹575 per share. There was no offer for sale (OFS) component in the IPO. The allotment status will be finalized by EOD of September 03, 2026. Here is how to check allotment status for the IPO of Purple Style Labs Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF PURPLE STYLE LABS LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Purple Style Labs Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Purple Style Labs Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF PURPLE STYLE LABS LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select PERNIASPOP from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Purple Style Labs Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF PURPLE STYLE LABS LTD ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Purple Style Labs Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
Enter the Application Number as it is
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
First select the depository (NSDL / CDSL)
Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
Enter the 10-Character PAN number, available on your PAN card
After you enter the PAN number, Enter the 6-digit numeric Captcha Code
Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE PURPLE STYLE LABS LTD IPO
Post the closure of the IPO subscription on 02nd September 2026, the basis of allotment will be finalized on 03rd September 2026 and the refunds will be initiated on 04th September 2026. In addition, the demat credits are expected to also happen on 04th September 2026 and the stock will list on 07th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 04th September 2026 under ISIN (INE0I1B01016).
Interested in applying for this IPO?
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