Summary:
Purple Style Labs IPO opened on August 31, 2026, with overall subscription at just 0.05x as of the Day 1 update. Retail investors led demand at 0.25x, while NII and QIB participation remained muted. The ₹680 crore IPO comprises an entirely fresh issue and closes on September 2, 2026. The company operates Pernia’s Pop-Up Shop and serves the luxury fashion and occasion-wear market through its omnichannel platform. Investors are closely watching subscription momentum amid the company’s ₹285.40 crore net loss in FY26.
Purple Style Labs, the Mumbai-based operator of luxury fashion platform Pernia's Pop-Up Shop, opened its ₹680 crore mainboard IPO for subscription on August 31, 2026. The issue got off to a very quiet start, subscribed just 0.05 times overall as of the update.
IPO Details
| Detail | Information |
| Issue Size | ₹680 crore (entirely fresh issue, 1,18,26,086 shares) |
| Price Band | ₹546–₹575 per share |
| Lot Size | 26 shares |
| Minimum Investment (Retail) | ₹14,950 |
| Face Value | ₹10 per share |
| IPO Open Date | August 31, 2026 |
| IPO Close Date | September 2, 2026 |
| Registrar | Kfin Technologies Ltd |
| Book-Running Lead Managers | Axis Capital, IIFL Capital Services |
Category-wise Breakdown on Day 1
| Category | Shares Offered/Reserved | Shares Bid For | Subscription (x) |
| Qualified Institutional Buyers (QIBs) | 37,35,264 | 384 | 0.00 |
| Non Institutional Investors | 18,68,131 | 39,572 | 0.02 |
| — NII (bids above ₹10 lakh) | 12,45,421 | 3,484 | 0.00 |
| — NII (bids ₹2–10 lakh) | 6,22,710 | 36,088 | 0.06 |
| Retail Individual Investors (RIIs) | 12,45,421 | 3,12,104 | 0.25 |
| Total | 68,49,816 | 3,52,060 | 0.05 |
Data as of 31-Aug-2026, 11:42 AM IST, sourced from NSE Consolidated Bid Details (nseindia.com).
Purple Style Labs IPO - Day 1 Subscription Status
As of the update on August 31, 2026, the issue received bids for 3,52,060 shares against 68,49,816 shares on offer, taking overall subscription to just 0.05 times. Retail Individual Investors led the still-modest demand at 0.25 times, followed by Non-Institutional Investors at 0.02 times, while Qualified Institutional Buyers remained almost entirely untouched at 0.00 times.
What Day 1 Numbers Indicate
Subscription staying extremely low across all categories on the opening morning is not unusual for a large, high-priced mainboard issue with 75% reserved for QIBs — a category that typically waits until the final bidding session before committing significant capital. Retail demand leading at 0.25 times, though still modest, reflects the earliest signs of investor interest in a company operating a curated, omnichannel luxury fashion platform. With the company having posted a net loss of ₹285.40 crore in FY26 against revenue of ₹557.84 crore, investors appear to be taking a measured, wait-and-watch approach so far, with institutional sentiment likely to become clearer only in the final hours of bidding on September 2.
Purple Style Labs IPO - Timetable
| Event | Date |
| Anchor Bid Date | August 28, 2026 |
| IPO Open Date | August 31, 2026 |
| IPO Close Date | September 2, 2026 |
| Allotment Finalisation | September 3, 2026 |
| Refund Initiation | September 4, 2026 |
| Demat Credit | September 4, 2026 |
| Listing Date | September 7, 2026 |
| Listing Exchanges | BSE, NSE |
Should You Apply for Purple Style Labs IPO?
Incorporated in 2015 and headquartered in Mumbai, Purple Style Labs operates Pernia's Pop-Up Shop, a multi-brand luxury omnichannel fashion platform focused on Indian wedding and occasion wear, sourcing from 1,109 active designer brands and carrying over 208,000 SKUs as of March 2026. The company runs 14 Experience Centres globally — 12 across major Indian cities plus one each in London and New York — alongside its website and mobile app, and served more than 200,000 unique customers over FY24–FY26. Revenue from operations stood at ₹557.84 crore in FY26, though the company reported a widening net loss of ₹285.40 crore, up from ₹188.30 crore the prior year.
Investors considering the issue should weigh the company's strong brand recall in luxury ethnic and occasion wear, deep designer relationships, and asset-light marketplace model against the widening losses and the fact that the entire fresh issue proceeds are earmarked largely for lease liabilities and working capital rather than pure growth capital. As with any IPO, the decision should be based on individual risk appetite, investment horizon, and a review of the RHP rather than subscription numbers alone.
How to Apply for Purple Style Labs IPO
Investors can apply for the Purple Style Labs IPO through ASBA via their bank's net banking portal, via UPI-based ASBA through their stock broker's trading app, or offline by submitting a physical ASBA form through their broker. The minimum lot size is 26 shares, requiring a minimum investment of approximately ₹14,950 at the upper price band, with retail investors eligible to invest up to ₹1,94,350 at the maximum permitted lots.
How to Check Purple Style Labs IPO Subscription Status
How to check Purple Style Labs IPO Subscription Status on NSE website
- Visit the NSE IPO issue information page (nseindia.com).
- Search for "Purple Style Labs" or enter the symbol PERNIASPOP.
- Select "Consolidated Bid Details" from the dropdown to view category-wise subscription data.
- The page refreshes periodically to show live bidding figures during market hours.
How to check Purple Style Labs IPO Subscription Status on BSE website
- Visit the BSE IPO page (bseindia.com).
- Navigate to the "Active IPO" or "IPO Bidding" section.
- Select "Purple Style Labs Limited" from the list of active issues.
- View category-wise and overall subscription figures, updated through the bidding window.
How to check Purple Style Labs IPO Subscription Status on Ventura?
Ventura clients can track real-time subscription status for the Purple Style Labs IPO directly within the IPO section of the Ventura app or web platform, alongside category-wise bid data and allotment updates — without needing to switch between exchange websites.
IPO Subscription History
Previous Day Subscription
Since this is the opening day of bidding, there is no previous-day subscription data available. Day 1 figures serve as the baseline for tracking momentum over the remaining day of the issue.
Conclusion
Purple Style Labs' IPO opened on a very quiet note, with subscription at just 0.05 times as of the Day 1 update, led by modest retail interest while institutional and NII bidding stayed almost entirely dormant. With bidding open until September 2, subscription numbers will need a substantial pickup — particularly from QIBs, who account for 75% of the issue — for the offering to see meaningful demand by close.
