[Update] Pernia’s Pop-Up Shop Parent Ends Debut Session 1.2% Below Issue Price

Update | September 7, 17:30 IST

Shares of Pernia’s Pop-Up Shop parent Purple Style Labs closed their maiden trading session at ₹568.05, down 1.2% from the issue price of ₹575 on the BSE. However, the closing price was 6.2% higher from the listing price of ₹539. The stock touched an intraday high of ₹588.1, up 2.3% from the issue price.

The company’s market capitalisation stood at ₹4,547.9 Cr (about $481.3 Mn) at the end of the session.

On the NSE, the stock closed at ₹568.5, down 1.13% from the issue price.

Original | September 7, 10:00 IST

Shares of Pernia’s Pop-Up Shop parent Purple Style Labs made a weak stock market debut, listing at a discount of nearly 7% to their issue price.

The stock opened at ₹535 on the NSE, 6.96% lower than the issue price of ₹575. On the BSE, the shares listed at ₹539, representing a discount of 6.26%. 

The company’s market capitalisation stood at ₹4,315.29 Cr (about $456.7 Mn) at the BSE’s opening price.

The muted debut came after the company’s ₹680 Cr IPO closed with an overall subscription of 1.29X. Investors placed bids for 88.54 Lakh shares against 68.49 Lakh shares on offer. 

The company had fixed the price band for the IPO at ₹546-₹575 per share. The IPO comprised entirely a fresh issue of shares, with no OFS component.

Ahead of the public issue, Purple Style Labs raised ₹306 Cr from anchor investors, allotting 53.2 Lakh shares at ₹575 apiece. Morgan Stanley and BofA Securities were among the investors participating in the anchor book.

Founded in 2015 by Abhishek Agarwal, Purple Style Labs operates luxury fashion platform Pernia’s Pop-Up Shop and owns designer brands such as Wendell Rodricks and Hemant Trivedi. It acquired Pernia’s Pop-Up Shop in 2018 and subsequently expanded the primarily online business into an omnichannel platform.

The company operates an omnichannel model spanning its online platform and physical experience centres, offering products across womenswear, menswear, jewellery, accessories and kidswear. It works with more than 1,100 active designer brands, according to its IPO documents.

Of the IPO proceeds, Purple Style Labs plans to deploy ₹371.1 Cr towards meeting lease liabilities associated with its experience centre network. Another ₹138.9 Cr has been earmarked for sales and marketing expenses, while the remaining capital will be used for general corporate purposes.

On the financial front, Purple Style Labs’ consolidated net loss widened 51.5% to ₹285.4 Cr in FY26 compared to ₹188.4 Cr incurred in the previous fiscal year. Operating revenue for the fiscal rose nearly 14% to ₹557.8 Cr from ₹489.9 Cr in FY25.

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