Pernia’s Pop-Up Shop Parent IPO Subscribed 37% On Final Bidding Day
Pernia’s Pop-Up Shop parent Purple Style Labs’ IPO entered its final day of bidding with overall investor demand remaining muted.…
Purple Style Labs, the parent company of Pernia's Pop-Up Shop, saw its IPO's final bidding day conclude with a 37% subscription of shares. The issue, worth ₹680 Cr, opened for subscription on August 31 and received bids for 25.1 Lakh shares out of the 68.5 Lakh shares available. Retail investors led the demand, with their reserved portion fully subscribed at 1.23 times.
Non-Institutional Investors (NIIs) also showed interest, subscribing 41% of their reserved quota. However, Institutional Investors (QIBs) contributed the least, subscribing just 6% of their allotted quota. Despite raising ₹306 Cr from anchor investors ahead of the IPO, institutional demand remained muted. The IPO, which comprises a fresh issue of shares without an Offer for Sale (OFS) component, will list its shares on the NSE and BSE on September 7.
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