Listing at a 7 percent discount, shares jumped 4% at 2.30 pm, Shahrukh-Salman Khan have invested
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The stock market debut of luxury fashion house Purple Style Labs (PSL)—the parent company of the iconic retail platform Pernia's Pop-Up Shop—witnessed a roller-coaster trading session on Monday, September 7, 2026. Backed by an elite roster of celebrity investors including Bollywood megastars Shah Rukh Khan, Salman Khan, Madhuri Dixit, and cricketing legend Sachin Tendulkar, the high-profile initial public offering (IPO) experienced a cautious start before staging a notable intraday recovery.
Weak Market Debut and Issue Price Margins
Purple Style Labs shares made a soft landing on the bourses, opening at a discount compared to their final issue price band of ₹546 to ₹575 per equity share. On the National Stock Exchange (NSE), the stock debuted at ₹535, marking a 6.96% discount, while trading on the Bombay Stock Exchange (BSE) commenced at ₹539, reflecting a 6.26% dip. Despite the subdued opening bells, market sentiment stabilized as the trading day progressed, prompting buying interest that pushed the stock higher by mid-afternoon. By 2:30 PM, the share price had climbed 4.08% from its opening levels to trade at ₹561, paring most of its early losses.
Subscription Trends and Investor Breakdown
The public offering concluded its three-day bidding window with an overall subscription of 1.36 times, reflecting a moderate yet steady investor response across categories. Category-wise data indicates that Retail Individual Investors (RIIs) showed the highest enthusiasm, oversubscribing their allotted quota at 1.66 times. Meanwhile, Qualified Institutional Buyers (QIBs) secured a 1.5 times subscription, whereas Non-Institutional Investors (NIIs) saw a slightly muted uptake, subscribing 0.89 times to their dedicated portion. As trading continues, market analysts will closely monitor how the star-studded backing and luxury retail positioning drive the stock's long-term trajectory.
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