SynopsisThe Rs 680-crore IPO, which opened for subscription on August 31 and closed on September 2, was subscribed 1.29 times overall. Retail investors led the demand, with their portion subscribed 1.57 times, followed by qualified institutional buyers (QIBs), whose quota was subscribed 1.44 times. The non-institutional investor (NII) category was subscribed 84%.Listen to this article in summarized formatETMarkets.comShares of Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, made their D-Street debut on Monday, listing at a discount of 7% to their IPO price. The stock opened at Rs 535 on the NSE, marking a discount of 6.96% to the issue price of Rs 575. On the BSE, it opened at Rs 539, a discount of 6.26% to the IPO price.The listing was broadly in line with expectations in the unlisted market. Shares of the company were seen commanding a negative grey market premium (GMP), signalling expectations of a listing below the issue price.The Rs 680-crore IPO, which opened for subscription on August 31 and closed on September 2, was subscribed 1.29 times overall. Retail investors led the demand, with their portion subscribed 1.57 times, followed by qualified institutional buyers (QIBs), whose quota was subscribed 1.44 times. The non-institutional investor (NII) category was subscribed 84%.The company fixed the IPO price band at Rs 546–575 per equity share. The public issue comprises entirely a fresh issue of 1.18 crore equity shares, with no offer-for-sale component.Ahead of the IPO, Purple Style Labs raised Rs 306 crore from anchor investors. The company allotted 53.21 lakh shares to 10 anchor investors at the upper end of the price band, or Rs 575 per share.Axis Capital Ltd served as the book-running lead manager for the issue, while Kfin Technologies Ltd acted as the registrar to the IPO.Read more: CAS effect: Pre-open session rules to change from today. What changes for investors?IPO ProceedsPurple Style Labs will deploy the Rs 510.03 crore in net IPO proceeds across key business and expansion initiatives. The largest allocation of Rs 371.13 crore will be invested in its wholly owned subsidiary, PSL Retail, to meet lease-related expenses for Experience Centers and back-end offices across India.A further Rs 138.90 crore has been earmarked for sales and marketing expenses, which will support the company’s expansion, customer acquisition and brand-building efforts. The remaining proceeds will be utilised for general corporate purposes.About the companyPurple Style Labs operates the luxury fashion platform Pernia’s Pop-Up Shop. It sells curated designer products across womenswear, menswear, jewellery, accessories and kidswear, with a focus on wedding and occasion wear.As of March 31, 2026, the company sourced products from 1,109 active designer brands. It operated through an omni-channel model covering experience centres, website, mobile app, telephonic and digital sales, events and exhibitions.The company had 14 experience centres globally, including 12 in India and one each in London and New York. During FY24-FY26, it served more than 2 lakh unique customers. In FY26, it recorded total PPUS GMV of Rs 722 crore and an average order value of Rs 75,504.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless(You can now subscribe to our ETMarkets WhatsApp channel)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless