Purple Style Labs IPO has entered its second day of bidding, but investor interest remains relatively subdued so far. In the grey market, the IPO is currently commanding a premium of around 1%, down sharply from the earlier 5% premium, pointing to expectations of a modest listing gain over the issue price.
On the first day of bidding, the issue received a muted response, with the overall IPO subscribed 8% against the 68.49 lakh shares on offer. The retail portion saw relatively stronger interest, getting subscribed 39% of the 12.45 lakh shares reserved for retail investors.
