Purple Style Labs IPO Day 3 Final Subscription Status: 1.36x Subscribed; GMP at ₹4
Purple Style Labs IPO Day 3 final subscription status closed at 1.36x overall on 2 September 2026, with retail investors leading at about 1.66x, followed by Qualified Institutional Buyers at 1.50x. Non-Institutional Investors finished below full subscription at about 0.89x. The latest consolidated Grey Market Premium (GMP) reading was ₹4, implying an indicative price of ₹579. The ₹680 crore issue is now closed.
| Metric | Final update |
| Bidding day | Day 3 |
| Data status | Final after bidding closed on 2 September 2026 |
| Overall subscription | 1.36x |
| Qualified Institutional Buyers | 1.50x |
| Non-Institutional Investors | About 0.89x |
| Retail Individual Investors | About 1.66x |
| Current GMP | ₹4 |
| GMP percentage | 0.7% |
| Indicative price | ₹579 |
| Closing date | 2 September 2026 |
Purple Style Labs IPO Day 3 Final Subscription Status
The Purple Style Labs IPO Day 3 final subscription stood at 1.36 times, meaning the public portion received bids for roughly 1.36 times the shares available in the final book.
| Investor category | Final subscription |
| Qualified Institutional Buyers (QIBs) | 1.50x |
| Non-Institutional Investors (NIIs) | About 0.89x |
| Big NII | About 1.06x |
| Small NII | About 0.53x |
| Retail Individual Investors | About 1.66x |
| Overall | 1.36x |
Retail Individual Investors recorded the highest category multiple, while Qualified Institutional Buyers (QIBs) also crossed full subscription after limited participation during the first two days.
Non-Institutional Investors (NIIs) remained below 1x overall. Within that segment, big NII demand crossed full subscription, while the small NII portion remained below full coverage.
Subscription multiples reflect the quantity of shares bid for relative to the allocation in each category. They do not represent the number of unique applicants.
Final Day-wise Subscription Trend
The biggest change in the bidding book came on the closing day. Overall demand moved from just 0.12x on Day 1 and 0.25x on Day 2 to 1.36x in the Day 3 final subscription.
| Bidding stage | Overall subscription | Leading category |
| Day 1 close | 0.12x | Retail, 0.56x |
| Day 2 close | 0.25x | Retail, 0.98x |
| Day 3 Final | 1.36x | Retail, about 1.66x |
Institutional bidding was the main late development. QIB subscription increased from 0.06x at the Day 2 close to 1.50x in the final book. Retail demand also strengthened from 0.98x to about 1.66x.
The final result was therefore broader than the first two days suggested, although demand was not uniform. Retail and QIB portions were oversubscribed, while the NII category remained below 1x.
Purple Style Labs IPO GMP Today and Estimated Listing Price
The latest consolidated Purple Style Labs IPO Grey Market Premium (GMP) reading was around ₹4 per share on 2 September 2026, down from a previous available reading of about ₹8.
Some other trackers showed lower readings, including around ₹0 to ₹1. This disagreement is important because GMP is an unofficial market signal and can vary between sources.
| GMP metric | Value |
| Current consolidated GMP | ₹4 |
| Previous available reading | ₹8 |
| Direction | Down ₹4 |
| Upper price band | ₹575 |
| GMP percentage | 0.7% |
| Indicative price | ₹579 |
The indicative price calculation is:
₹575 upper price band + ₹4 GMP = ₹579
The GMP percentage is:
₹4 ÷ ₹575 × 100 = approximately 0.7%
GMP is unofficial, unregulated, and not published by stock exchanges or the Securities and Exchange Board of India (SEBI). It can change before listing and does not guarantee a ₹579 listing price or any listing gain.
What Stands Out in Today’s Bidding
The clearest signal from the Day 3 final subscription is the sharp closing-day increase in institutional demand. QIB participation moved from 0.06x after Day 2 to 1.50x in the final book, helping the overall issue cross full subscription.
Retail demand also remained comparatively firm and ended above the QIB multiple.
However, two limitations matter. First, the NII category remained below full subscription, so demand was not equally strong across all investor groups. Second, GMP weakened even as formal subscription accelerated.
That subscription-GMP divergence shows why the two indicators should not be treated as interchangeable. Subscription reflects bidding for allocated shares, while GMP is an unofficial sentiment indicator. Neither proves fair valuation, business quality, or future returns.
IPO Details Retail Investors Need
| IPO detail | Purple Style Labs IPO |
| Price band | ₹546 to ₹575 per share |
| Lot size | 26 shares |
| Minimum retail investment | ₹14,950 |
| Issue size | ₹680 crore |
| Fresh issue | ₹680 crore |
| Offer for Sale (OFS) | Nil |
| Issue type | Book-built mainboard IPO |
| Closing date | 2 September 2026 |
| Expected listing date | 7 September 2026 |
| Exchange | BSE and NSE |
The IPO consists entirely of a fresh issue of shares, with no Offer for Sale (OFS) component.
Brief Company and Financial Context
Purple Style Labs operates Pernia’s Pop-Up Shop, an omnichannel luxury fashion platform offering designer womenswear, menswear, jewellery, accessories, and related products through digital channels and physical Experience Centers.
Revenue from operations increased to about ₹557.84 crore in FY2026 from ₹489.91 crore in FY2025, but the loss after tax widened to about ₹285.40 crore from ₹188.38 crore. The company intends to deploy ₹371.13 crore of fresh proceeds through PSL Retail toward lease liabilities and ₹138.90 crore toward sales and marketing.
The widening loss despite higher revenue, along with the cost of expanding the physical retail network, remains a material consideration.
What Happens Next
With bidding closed, the basis of allotment is expected to be finalised on 3 September 2026. Refund or fund-unblocking and demat credit are scheduled for 4 September 2026, subject to the issue timetable. Purple Style Labs shares are tentatively scheduled to list on the BSE and NSE on 7 September 2026.
Frequently Asked Questions (FAQs)
Q: What is the Purple Style Labs IPO Day 3 final subscription?
A: Purple Style Labs IPO Day 3 final subscription closed at 1.36x overall on 2 September 2026. Retail investors subscribed about 1.66x their allocation, QIBs 1.50x, and NIIs about 0.89x.
Q: Which category led the Purple Style Labs IPO final subscription?
A: Retail Individual Investors recorded the highest final multiple at about 1.66x. Qualified Institutional Buyers were close behind at 1.50x, while the NII category finished below full subscription at about 0.89x.
Q: What is the Purple Style Labs IPO GMP today?
A: The latest consolidated GMP reading is around ₹4 per share, although some trackers showed lower readings of roughly ₹0 to ₹1. GMP is unofficial, unregulated, and can vary between sources.
Q: What listing price does the current Purple Style Labs IPO GMP indicate?
A: A ₹4 GMP over the ₹575 upper price band indicates an unofficial price of about ₹579 per share, or roughly 0.7% above the upper issue price. This is not a guaranteed listing price.
Q: Does the 1.36x Purple Style Labs IPO subscription guarantee a premium listing?
A: No. A 1.36x final subscription shows that bids exceeded the shares available in the public book, but it does not guarantee a premium listing. Listing performance can differ materially from both subscription levels and grey-market indications.
Disclaimer
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