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Purple Style Labs IPO opens today: Check GMP, key details. Should you subscribe?

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Purple Style Labs IPO opens today: Check GMP, key details. Should you subscribe?
The much-awaited Purple Style Labs IPO is set to open for subscription on August 31, 2026, and will remain open for bidding until September 2, 2026. In the grey market, the issue is currently trading at a premium of around 5%, indicating a positive but relatively flat listing gain over its issue price.

Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, has fixed the price band at Rs 546–575 per equity share. The Rs 680-crore issue comprises entirely a fresh issue of 1.18 crore equity shares.

The IPO will provide investors with an opportunity to participate in Purple Style Labs’ next phase of expansion as the company continues to build its presence in the luxury fashion segment.

The issue has also attracted considerable interest from celebrities. Bollywood stars Shah Rukh Khan and Madhuri Dixit, along with cricket legend Sachin Tendulkar, are among the prominent investors in Purple Style Labs. Other publicly disclosed celebrity investors include Salman Khan and his family, as well as actor Mahesh Babu.

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According to the company’s restated consolidated financial statements, Purple Style Labs reported a loss in FY2026. Consequently, its basic and diluted earnings per share (EPS) were negative, making the price-to-earnings (P/E) ratio inapplicable.


The company’s weighted average return on net worth (RoNW) for the last three financial years stood at a negative 147.14%. This suggests that investors may need to assess the IPO on factors beyond conventional earnings-based valuation metrics.
At the upper and lower ends of the price band, the cap and floor prices represent 57.5 times and 54.6 times the face value of the equity shares, respectively. The minimum bid quantity is 26 equity shares, with subsequent bids required to be placed in multiples of 26 shares.Axis Capital Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar to the IPO.

Anchor Investors: Purple Style Labs has raised Rs 306 crore from anchor investors ahead of its IPO. The company allotted 53.21 lakh shares to 10 anchor investors at Rs 575 per share.

IPO Proceeds

Purple Style Labs plans to deploy the net proceeds from the IPO across several key areas. The largest allocation of Rs 371.13 crore will be invested in its wholly owned subsidiary, PSL Retail, to meet expenditure related to lease liabilities for Experience Centers and back-end offices across India.

Another Rs 138.90 crore has been earmarked for sales and marketing expenses, which will support the company’s expansion, customer acquisition and brand-building initiatives. The balance of the proceeds will be used for general corporate purposes. Overall, the issue is expected to generate net proceeds of Rs 510.03 crore.

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About Purple Style Labs and Pernia’s Pop-Up Studio

Purple Style Labs is the parent company of Pernia’s Pop-Up Shop, a multi-brand luxury fashion omni-channel platform. The company acquired Pernia’s Pop-Up Shop in February 2018, when the business was largely focused on online sales.

Since then, the platform has expanded its physical presence significantly. According to its DRHP, the company had 14 Experience Centers across India and London, with additional locations planned in Mumbai and New York. Its revenue stood at Rs 508 crore in FY24.

The company is increasingly benefiting from its offline expansion. In its DRHP, Purple Style Labs said India’s wedding and occasion-wear market is undergoing a pronounced shift towards premiumisation, with consumers moving towards higher-priced segments between FY25 and FY30.

The company attributed this trend to rising disposable incomes, changing consumer aspirations and increasing willingness to spend on milestone celebrations. It also noted that the growing preference for premium, experience-led weddings is driving demand for luxury and high-quality fashion.

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India’s wedding industry has crossed Rs 10 lakh crore, while the wedding-wear market is projected to reach Rs 3.4 lakh crore by FY30. The country’s personal luxury market is also expected to reach Rs 2.31 lakh crore.

Celebrity and Institutional Backing

Purple Style Labs was founded and is promoted by Abhishek Agarwal, who owns a 27.10% stake in the company. The business has attracted backing from institutional investors, family offices, and private investors. Among its publicly disclosed celebrity investors are Shah Rukh Khan, Salman Khan and his family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu.

Madhuri Dixit Nene was among the earliest celebrity investors, participating through convertible preference shares. The Gauri Khan Family Trust invested through a rights issue in November 2024, while Sachin Tendulkar participated in a preferential allotment in March 2025. Both investments were made at the price paid by institutional investors in the company’s last private funding round, which closed at a post-money valuation of Rs 3,662 crore.

Revenue Growth

Purple Style Labs has recorded substantial revenue growth over the past few years. Revenue increased more than 11-fold from Rs 45 crore in FY20 to Rs 508 crore in FY24, representing an approximately 83% compound annual growth rate.

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Pernia’s Pop-Up Shop currently offers more than 2 lakh products from over 1,300 designers through its digital platform and 14 Experience Centers. The platform recorded a gross merchandise value (GMV) of more than Rs 588 crore in FY25, while its average order value stood at Rs 56,106.

With its growing physical retail footprint, expanding luxury fashion offering and exposure to India’s rapidly premiumising wedding and occasion-wear market, Purple Style Labs is positioning the IPO as a key source of capital for its next phase of growth.

Should You Subscribe?

According to a research report by SBI Securities, Purple Style Labs (PSL), which operates Pernia’s Pop-Up Shop, has established itself as a multi-brand luxury omnichannel fashion platform with a strong focus on Indian wedding and occasion wear.

The company has several positives, including an established luxury fashion platform, a diversified portfolio of designers, an omnichannel presence and improving customer retention. However, its financial performance remains a key concern. PSL recorded a modest 5.2% revenue CAGR between FY24 and FY26, while EBITDA declined and net losses widened during the same period.

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Profit margins also contracted in FY26, primarily due to a higher proportion of liquidation inventory and the increase in GST on apparel priced above Rs 2,500 per piece, from 12% to 18%. Going forward, a meaningful improvement in profitability will depend largely on the ability of its experience centres to mature and absorb the company’s higher fixed-cost base.

At the upper price band of Rs 575 per share, PSL is valued at a post-issue FY26 EV/Sales multiple of 7.7x. While the IPO proceeds are expected to help fund lease payments and marketing expenditure, SBI Securities believes that visibility on sustainable profitability remains limited at present.

Given the elevated valuation and the company’s continued losses, SBI Securities has assigned a ‘Neutral’ rating to the IPO. The brokerage recommends tracking PSL’s performance for a few quarters after listing before taking a more constructive view on the stock.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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Orthocell confident of US expansion after record results

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Orthocell confident of US expansion after record results

Perth-based regenerative medicine company Orthocell will ramp up its US expansion after delivering a 45 per cent revenue increase for the year, giving it a $44 million war chest with zero debt or royalties.

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Ashoka Buildcon shares rally 10% after securing Rs 602 crore order from RVNL

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Ashoka Buildcon shares rally 10% after securing Rs 602 crore order from RVNL
Ashoka Buildcon shares jumped 10.44% to Rs 124.40 during Monday’s trading session after the company announced that it had received a Letter of Acceptance (LOA) from Rail Vikas Nigam Limited (RVNL) for a major infrastructure project in Uttarakhand.

The order, valued at Rs 602.16 crore, including GST, involves the supply, erection, testing and commissioning of electro-mechanical systems for four railway tunnels under the Rishikesh-Karnprayag New Broad Gauge Rail Line Project.

According to the company’s exchange filing, Ashoka Buildcon had earlier submitted its bid for Package-3, covering Tunnel T-13, T-14, T-15 and T-16 under Package E-4 of the project.

The Rs 602.16 crore order involves the execution of a broad range of electro-mechanical works for four railway tunnels under the Rishikesh-Karnprayag New Broad Gauge Rail Line Project in Uttarakhand.

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As part of the contract, Ashoka Buildcon will undertake the supply, erection, testing and commissioning of 33/11 kV and 11/0.433 kV GIS substations, HT and LT cables, diesel generator (DG) sets, lighting systems, UPS systems, ventilation systems and fire-fighting systems, along with other associated works required for the tunnels.


The contract has been awarded by Rail Vikas Nigam Limited (RVNL) through a Letter of Acceptance (LOA) dated August 28, 2026.
Ashoka Buildcon said the project is scheduled to be completed within 30 months from the date of commencement. Under the contract, the company is also required to submit a performance bank guarantee of Rs 25.51 crore to RVNL. The project carries a defect liability period of two years.The order has been awarded by a domestic entity and does not constitute a related-party transaction. The company also stated that its promoter/promoter group has no interest in the awarding entity.

The sizeable order win provides a fresh boost to Ashoka Buildcon’s order book and puts the infrastructure company in focus amid continued spending on India’s railway and transportation infrastructure.

The company also informed exchanges that the trading window for designated persons and their immediate relatives will remain closed until 48 hours after the disclosure is made to the stock exchanges.

Stock performance and technical indicators

Ashoka Buildcon shares rallied more than 10% during the trading session, hitting an intraday high of Rs 125.37. Despite the sharp uptick, the stock continues to trade well below its 52-week high of Rs 214.50. At the current market price, the company commands a market capitalisation of around Rs 3,170 crore.

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From a technical perspective, the stock’s 14-day Relative Strength Index (RSI) stands at 34.5. While an RSI below 30 is generally considered to indicate oversold territory and a reading above 70 signals overbought conditions, the current reading suggests the stock is approaching the oversold zone without entering it.

The technical setup also remains relatively encouraging, with Ashoka Buildcon trading above six of its eight key Simple Moving Averages (SMAs). This indicates that the recent price momentum has strengthened across several time frames and could keep the stock on investors’ radar.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Calamos Hedged Equity Strategy Q2 2026 Commentary

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SABA Vs. BRW: I Like Them Both, But Prefer SABA Now (NYSE:SABA)

Calamos Investments is a diversified global investment firm offering innovative investment strategies including U.S. growth equity, global equity, convertible, multi-asset and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London, New York and San Francisco.  For more information, please visit www.calamos.com.

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Allspring High Yield Municipal Bond Fund Q2 2026 Commentary

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Thoughts From The Muni Desk

Allspring is a company committed to thoughtful investing, purposeful planning, and the desire to elevate investing to be worth more. Allspring is reimagining investment management to be worth more—creating an investment, distribution, and operational experience that changes the game for clients. Note: This account is not managed or monitored by Allspring, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Allspring’s official channels.

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Bessent pushes back on fears over US debt market strains

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Bessent pushes back on fears over US debt market strains

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Australians Put on High Alert Over Eerie Hidden Detail Discovered in Emergency Weather Graph

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Weather Forecast

SYDNEY, AustraliaAustralia emergency alert testrollout preparations have taken an unexpected turn across social media platforms after sharp-eyed citizens spotted an unsettling visual detail embedded within emergency weather graphic displays. The discovery has prompted intense online discussion just as federal and state authorities prepare for a major nationwide trial of the country’s upgraded public warning infrastructure.

As emergency management agencies finalize preparations to broadcast loud test signals to millions of compatible mobile devices nationwide, public scrutiny surrounding official communications has reached a high point. The upcoming trial of the AusAlert warning system aims to replace older text-based notifications with high-priority audio and visual warnings designed to immediately penetrate everyday phone activity during life-threatening crises.

However, community attention shifted rapidly from routine disaster preparedness when users began analyzing standardized weather chart templates and emergency graphics distributed in background promotional material. Online observers pointed out subtle anomalies in data lines and background overlay iconography that appeared to mimic catastrophic threat conditions, triggering widespread speculation across digital message boards and local online groups.

The sudden viral focus highlights how sensitive the Australian public has become to official disaster messaging following consecutive years of extreme climate events, severe seasonal flooding, and devastating bushfire seasons.

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Unusual Visual Details Trigger Online Speculation

The online frenzy began when digital weather graphs, displayed alongside mock-ups of the emergency broadcast user interface, circulated across mobile networks. Tech-savvy users zooming in on high-resolution versions of the official graphics noticed unusual graphical artifacts and strangely rendered baseline curves that appeared to show dramatic spike patterns far outside typical meteorological modeling.

While meteorologists and design professionals quickly pointed out that the graphics were constructed using synthetic placeholder data for testing purposes, the eerie aesthetic of the high-contrast chart sparked immediate concern. Some social media users speculated that the unusual graph layouts hinted at new, undisclosed threat classification tiers being tested by authorities, while others viewed the strange visual formatting as an oversight in graphic design that created unnecessary public anxiety.

“When people see official government graphics featuring high-intensity warnings alongside strange, spiking data curves, their immediate reaction is concern,” noted a digital communications expert reviewing the online reaction. “Australians have learned through hard experience to pay close attention to official weather alerts, so any visual detail that looks out of place naturally gets analyzed under a microscope.”

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Emergency management representatives clarified that sample images and graphical backdrops used in public education campaigns are regularly built using stylized or exaggerated data sets. These visual elements are intentionally designed to demonstrate how extreme severe weather graph spikes will display on various modern smartphone screen sizes during actual crisis events.

The Evolution of Australia’s Modern Warning Infrastructure

The intense public interest comes as emergency services prepare to execute a critical nationwide test designed to overhaul Australia’s disaster notification capabilities. The new broadcast protocol represents a direct response to key recommendations generated by royal commissions into major natural disasters, which identified critical delays in traditional short message service alerts during fast-moving bushfires and sudden flash flood events.

Unlike conventional text messages, which can suffer from severe network congestion or delayed delivery queues when thousands of people attempt to access cellular towers simultaneously, the upgraded system utilizes dedicated cell broadcast technology. This allows emergency services to broadcast an instant, high-decibel audio siren and high-priority visual pop-up to every compatible phone connected to specific cell towers in an affected geographic zone.

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Key functional features of the national emergency broadcast upgrade include:

  • Instantaneous Area Targeting: Broadcasts deliver critical safety directions within seconds to all mobile devices operating within a defined hazard zone, bypassing traditional cellular queue delays.
  • Override Sound Profiles: Emergency signals are engineered to sound a distinctive, high-pitch alert tone even if a user’s mobile device is switched to silent or do-not-disturb mode.
  • Integrated Screen Displays: Warning messages overlay clear text instructions directly across the screen alongside high-visibility threat level indicators and official agency logos.

Officials emphasize that the transition to modern broadcast technology is vital for ensuring that community members receive clear, actionable directions the moment a crisis develops, allowing families crucial extra minutes to execute evacuation plans.

Digital Safety and Public Preparedness Ahead of the Test

As the scheduled national system test approaches, emergency response agencies are actively reassuring the community that the upcoming phone notifications are strictly part of a routine operational trial. Authorities are advising citizens that no action will be required when the distinctive test alarm sounds on their devices.

At the same time, cyber security experts and telecommunications regulators are reminding the public to stay vigilant against separate digital threats, such as mobile porting scams and fraudulent messages that often coincide with high-profile public events. Scammers frequently attempt to take advantage of public confusion surrounding new technology rollouts by sending deceptive text messages containing malicious links.

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Official agencies stress that genuine emergency broadcasts delivered via the emergency broadcast system will never request personal financial details, passwords, or verification codes from citizens.

“The ultimate goal of testing our emergency infrastructure is to build community trust and operational resilience,” an emergency services spokesperson stated in a public update. “Whether it is verifying that sound frequencies cut through background noise or ensuring that on-screen graphics render accurately, every detail matters when it comes to keeping Australian communities safe during natural disasters.”

With the nation heading into another challenging weather season, disaster management authorities hope that the viral attention surrounding the warning test will ultimately serve a positive purpose by encouraging households to review their emergency survival plans and stay informed through official emergency channels.

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Alameddine Crime Family Relative Critical After Targeted Home Shooting in Western Sydney

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Australia Crime Scene

SYDNEY, Australia — Alameddine crime family relative is fighting for his life in a Sydney hospital after being shot during a targeted home invasion in Western Sydney, raising serious fears among law enforcement that organized crime conflicts could escalate across the metropolitan area.

Emergency services were called to a residential address in Guildford at approximately 7:40 p.m. on Saturday following urgent reports that a man had suffered serious gunshot injuries. Police officers and New South Wales Ambulance paramedics arrived at the scene to find a 28-year-old victim suffering from multiple gunshot wounds to his back.

Paramedics treated the injured man at the scene before transferring him under emergency police escort to the hospital, where he underwent urgent surgery. Hospital officials confirmed that the victim remains in critical condition within the intensive care unit as medical staff continue to monitor his condition closely.

Senior law enforcement sources confirmed that the victim is a relative of the Alameddine criminal network, a prominent syndicate operating extensively across Western Sydney. Detectives from the State Crime Command’s Raptor Squad, which specializes in dismantling organized crime networks and outlaw motorcycle gangs, have taken charge of the ongoing investigation.

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Brazen Home Invasion Sparks Major Manhunt

Preliminary police investigations suggest that the shooting was a carefully planned, targeted strike carried out by multiple assailants. According to police statements, several masked men forcibly entered the residential property on Saturday evening, confronted the 28-year-old occupant, and discharged firearms at close range before quickly fleeing the premises.

Witnesses reported seeing a white sport utility vehicle accelerating rapidly away from the scene immediately after the gunshots echoed through the residential street. Police patrols immediately established a wide perimeter across surrounding suburbs in Sydney’s west, stopping vehicles and reviewing local traffic camera feeds in an attempt to trace the getaway car.

Specialist forensic investigators spent Sunday morning meticulously examining the crime scene, collecting shell casings, searching for fingerprint evidence, and securing high-definition CCTV footage from nearby houses. Crime scene tape cordoned off the property while ballistic experts analyzed entry points and bullet trajectories.

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“This was a targeted, cowardly attack inside a residential home,” a senior police officer familiar with the case noted during an initial briefing. “Our detectives are working around the clock to identify the individuals responsible and to prevent any potential retaliatory action.”

Investigators are appealing to anyone who may have noticed suspicious vehicles or individuals lingering near the property prior to the shooting to come forward immediately. Police are also requesting dashcam footage from motorists who drove through Guildford, Yennora, or Merrylands between 7:00 p.m. and 8:30 p.m. on Saturday evening.

Escalating Gangland Tensions Across Western Sydney

The violent incident marks the latest chapter in ongoing hostilities involving organized crime groups in Sydney’s outer suburbs. Over recent years, the Alameddine syndicate has been locked in intense, tit-for-tat conflicts with rival underworld factions, resulting in public shootings, arson attacks, and targeted intimidation campaigns.

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Pressure from law enforcement has previously forced key leaders of the syndicate overseas. Senior figures, including Rafat Alameddine, departed Australia in 2023 to avoid local law enforcement and are believed by intelligence authorities to be directing operations from abroad while residing in Lebanon.

Despite the departure of top-tier leaders, local operational branches of the network have continued to clash with rival groups over illicit distribution territories. Saturday’s shooting occurred on the exact same street where a firebombing took place earlier this year as part of a dispute involving a group identifying itself as the “Coconut Cartel”.

During that January 21 arson attack, offenders targeted the wrong residence, setting fire to a car belonging to an uninvolved neighbor and leaving behind a handwritten sign carrying messages linked to the rival gang. Police are currently examining whether Saturday’s home invasion is directly connected to that earlier dispute or represents a new line of conflict.

Community leaders in Western Sydney have voiced growing concern over the spillover of gang violence into quiet residential neighborhoods, warning that innocent bystanders face immense risk when rival syndicates trade fire in suburbs occupied by young families.

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Law Enforcement Response and Community Safety

In response to the weekend violence, NSW Police have significantly bolstered high-visibility patrols across Guildford, Merrylands, and surrounding areas. Officers from Strike Force Raptor and regional proactive police units are conducting targeted compliance checks on known associates of local crime networks to suppress potential retaliation attempts.

Underworld experts emphasize that when a high-profile target or relative is attacked, the risk of rapid, uncoordinated retaliation rises significantly. As a result, police tactical units are maintaining heightened readiness across multiple Western Sydney police area commands.

State crime commanders reiterated that public assistance remains crucial to disrupting organized syndicates. NSW Police urge anyone with information regarding the shooting, the white SUV, or illicit gang activities in the region to contact Crime Stoppers anonymously.

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As the 28-year-old victim remains in critical condition under police guard at the hospital, detectives continue to pursue multiple leads to determine the identity of the gunmen and track down the vehicle used in the attack. Authorities maintain that curbing the cycle of gang violence remains an absolute priority for law enforcement across New South Wales.

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China airline stocks fall as weak Air China results, oil surge weigh

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China airline stocks fall as weak Air China results, oil surge weigh

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John Hancock Bond Fund Q2 2026 Commentary

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Treasury Yields Are Testing The AI Equity Rally (SPX)

A company of Manulife Investment Management, John Hancock Investment Management serves investors through a unique multimanager approach, complementing our extensive in-house capabilities with an unrivaled network of specialized asset managers, backed by some of the most rigorous investment oversight in the industry. The result is a diverse lineup of time-tested investments from a premier asset manager with a heritage of financial stewardship. Note: This account is not managed or monitored by John Hancock Investment Management, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use John Hancock Investment Management’s official channels.

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imetal appoints paul larkin as director, robert scott as cfo

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imetal appoints paul larkin as director, robert scott as cfo

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