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Purple Style Labs books ₹306 crore from anchor investors ahead of IPO
The IPO will open August 31 and close September 2, with a ₹546 to ₹575 price band and a ₹680 crore target.
Purple Style Labs Limited raised ₹306 crore ahead of its mainboard IPO, allotting 5,321,739 equity shares to 10 anchor investors at ₹575 each, according to LiveMint Markets and the company’s exchange filing.
The offer will open for subscription on Monday, August 31, and run through Wednesday, September 2. The price band is set at ₹546 to ₹575 per share, with the IPO lot size fixed at 26 shares, requiring a minimum retail investment of ₹14,950.
The IPO is planned to raise ₹680 crore through a fresh issue of about 1.18 crore shares with no offer for sale component. Purple Style Labs reserved up to 75% of the net offer for qualified institutional buyers, at least 15% for non-institutional investors, and at least 10% for retail investors.
Anchor allocation included 1,739,192 shares, or 32.68% of the total anchor allocation, allotted to two domestic mutual fund schemes across three mutual fund schemes. Lead managers are Axis Capital Limited and IIFL Capital Services Limited, with allotment expected to be finalized on Thursday, September 3, and trading likely to begin on the NSE and BSE on Monday, September 7.