Purple Style Labs Limited IPO to Open on August 31

Ahmedabad: Purple Style Labs Limited will open the bidding for its Initial Public Offering (IPO) on Monday, August 31, 2026. The price band for the IPO has been fixed at ₹546 to ₹575 per equity share. Investors can bid for a minimum of 26 equity shares and in multiples of 26 shares thereafter. The Anchor Investor bidding will take place on Friday, August 28, 2026. The IPO comprises entirely a fresh issue of equity shares aggregating up to ₹680 crore, with each share having a face value of ₹10, the company announced today.

The press release further states, “the Equity Shares that will be issued through the red herring prospectus dated August 24, 2026, read with corrigendum dated August 25, 2026 (“Red Herring Prospectus” or “RHP”), are proposed to be listed on the Stock Exchanges. For the purposes of the Issue, the Designated Stock Exchange shall be NSE. Axis Capital Limited and IIFL Capital Services Limited (formerly known as IIFL Securities Limited) are the book running lead managers to the issue. The detailed price band advertisement dated August 25, 2026, has been published in all editions of Financial Express, an English national daily newspaper, all editions of Jansatta, a Hindi national daily newspaper, and the Mumbai edition of Navshakti, a Marathi daily newspaper, on August 26, 2026.”

“This is an Issue in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. This Issue is being made through the Book Building Process in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein not less than 75% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion the “QIB Portion”), provided that our Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which 40% shall be reserved as follows: (i) 33.33% for domestic Mutual Funds; and (ii) 6.67% shall be reserved for Life Insurance Companies and Pension Funds, subject to valid Bids being received from domestic Mutual Funds, Life Insurance Companies and Pension Funds at or above the price at which Equity Shares will be allocated to the Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations,” the press release further said.

All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID (in case of UPI Bidders (defined herein) using the UPI Mechanism), in which case the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable, to participate in the Issue. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Issue through the ASBA process.