Shares of Purple United Sales made an impressive stock market debut on December 18, listing at ₹199 per share on the NSE SME platform, commanding a 58% premium over its issue price of ₹126 per share.
Key Highlights:
- Issue Price: ₹126 per share
- Listing Price: ₹199 per share
- Listing Premium: 58%
- GMP (Grey Market Premium): Estimated 64%, but the actual gains fell slightly short.
IPO Details:
- IPO Size: ₹32.8 crore (entirely fresh issue)
- Subscription Figures:
- Non-Institutional Investors (NII): 270 times
- Retail Investors: 155 times
- Qualified Institutional Buyers (QIBs): 86 times
- Overall Subscription: 160 times
Company Overview:
- Founded in: 2014
- Focus: Children’s clothing, footwear, and accessories
- Flagship Line: “Purple United Kids” for ages 0-14 years
- Specialty: Laboratory-tested products for infants (0-1 year), toddlers (2-6 years), and older children (7-14 years).
- Operations: Design, development, sourcing, marketing, and distribution.
Use of IPO Proceeds:
The company aims to utilize the funds for:
- Opening new stores
- Working capital requirements
- General corporate purposes
Purple United Sales’ strong investor interest and oversubscription reflect confidence in its growth potential within the children’s fashion market.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
