Purple Style Labs IPO Day 2: Subscription Status, GMP Insights, and Key Details—Is It Worth Your Investment?

The Purple Style Labs IPO has entered its second day of bidding with a rather tepid investor response. As of now, the issue has only been subscribed 8% against the 68.49 lakh shares on offer, while the retail segment has seen stronger interest with a 39% subscription of the allocated shares. The company has set its IPO price band between Rs 546–575 per share with a total offering of Rs 680 crore, consisting solely of a fresh issue of 1.18 crore equity shares. Celebrity endorsements from figures like Shah Rukh Khan and Sachin Tendulkar have generated some buzz around the IPO as it aims to expand its reach within India’s booming luxury fashion sector.

The grey market sentiment surrounding the Purple Style Labs IPO has shifted, currently reflecting a premium of around 1%, significantly reduced from a previous 5%. This decrease suggests a more tempered expectation for the listing gain, estimated at approximately Rs 582 per share based on the latest grey market trends. The lower premium could indicate cautious sentiment among investors, especially given the company’s reported financial challenges, including negative earnings in FY2026 and a loss in return on net worth over the past three years.

For Indian investors, the Purple Style Labs IPO presents an intriguing opportunity amid underlying concerns regarding financial performance and valuation metrics. While the company is positioned in a high-growth segment with significant celebrity backing, the muted subscription numbers and declining grey market premium hint at cautious enthusiasm. Investors may want to closely monitor the IPO’s subsequent performance post-listing, particularly in light of its ambitious expansion plans and the promising, yet volatile, luxury market landscape.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)