Pernia’s Pop-Up Parent IPO: Issue Subscribed 8% On Day 1 Till Now
Pernia’s Pop Up Shop parent Purple Style Labs’ initial public offering (IPO) got off to a subdued investor on the…
Purple Style Labs, the parent company of Pernia’s Pop Up Shop, made its initial public offering (IPO) debut on September 1, with a modest response from investors. As of 14:48 IST, the shares had garnered bids totaling 5.59 Lakh shares out of 68.50 Lakh shares available, resulting in an 8% subscription rate. Retail investors led the bidding, placing bids for 4.85 Lakh shares, which accounted for 39% of their allotted shares.
Non-Institutional Investors (NIIs) had committed to 74,126 shares, achieving a meager 4% subscription rate. Qualified Institutional Buyers (QIBs) demonstrated the least interest, placing only 364 bids against a reservation of 37.36 Lakh shares, representing less than 1% of their share subscription. The IPO will conclude on September 2, and the company plans to list on September 7.
The venture will generate funds primarily for lease liabilities and marketing expenses over FY30. Established in 2015 by Abhishek Agarwal, Pernia’s Pop Up Shop operates an omnichannel luxury fashion platform selling apparel from 1,109 designer brands. Despite a 51.5% increase in consolidated net loss to ₹285.4 Cr in FY26, compared to ₹188.4 Cr in FY25, the company's financials show a 14% rise in operating revenue to ₹557.8 Cr from ₹489.9 Cr in FY25.
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