Mumbai, September 7, 2026 (Yes Punjab News)
Shares of luxury fashion company Purple Style Labs made a weak debut on Dalal Street on Monday, listing at a discount of up to nearly 7 per cent to the issue price of Rs 575 per share.
The stock opened at Rs 539 on the BSE, down 6.26 per cent from the issue price, while it debuted at Rs 535 on the NSE, marking a decline of 6.96 per cent.
The selling pressure intensified in early trade, with the stock falling as much as 10.26 per cent to Rs 516 on the BSE. On the NSE, it touched an intraday low of Rs 515.85, down 10.28 per cent or Rs 59.15 from the issue price.
The weak listing comes amid concerns over the company’s widening losses and rising borrowings. According to its red herring prospectus, Purple Style Labs reported a consolidated loss of Rs 285.40 crore in fiscal 2026, compared with Rs 188.38 crore in fiscal 2025 and Rs 47.71 crore in fiscal 2024.
Total borrowings increased sharply to Rs 371.40 crore as of March 31, 2026, from Rs 112.79 crore a year earlier and Rs 116.33 crore in fiscal 2024.
While total income rose to Rs 567.07 crore in fiscal 2026 from Rs 494 crore in the previous year, EBITDA declined to Rs 30.37 crore from Rs 41.99 crore.
The company also faces business concentration risks, with womenswear accounting for 77.7 per cent of the gross merchandise value at Pernia’s Pop-Up Shop in fiscal 2026. The RHP cautioned that changing customer preferences, weaker demand or difficulties in anticipating fashion trends could affect sales and profitability.
The prospectus also disclosed a notice from Pernia Qureshi and the seller seeking termination of a licence agreement covering certain rights associated with the Pernia’s Pop-Up Shop brand.
Purple Style Labs said its expansion into new stores, international markets and premium brands carries execution risks. It also noted that designer brands determine product prices and that some agreements are non-exclusive, potentially limiting pricing flexibility and allowing designers to sell through competing platforms or directly.
The Rs 680-crore IPO was open for subscription from August 31 to September 2, with a price band of Rs 546-575 per share.
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