Shares of Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, made their D-Street debut on Monday, listing at a discount of 7% to their IPO price. The stock opened at Rs 535 on the NSE, marking a discount of 6.96% to the issue price of Rs 575. On the BSE, it opened at Rs 539, a discount of 6.26% to the IPO price.
The listing was broadly in line with expectations in the unlisted market. Shares of the company were seen commanding a negative grey market premium (GMP), signalling expectations of a listing below the issue price.
