Purple Style Labs IPO Allotment: How to check application status on KFin, BSE, NSE; GMP & listing date

Purple Style Labs, the parent company of luxury fashion store Pernia’s Pop-Up Shop (PPUS), is set to finalize the basis of allotment of its equity shares on Thursday, September 3. The investors getting the allotment of shares may check the status of their applications on the websites of the registrar, NSE or BSE. However, those who shall not get the allotment will see their mandate revoked by the same day.

Here's how the applicants, who had bid for the issue of Purple Style Labs IPO:

1. On the website of Registrar:
Go to the web portal of KFin Technologies Ltd 
Select the IPO in dropbox whose name will be populated only if the allotment is finalized
You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
In application type, select between ASBA and non-ASBA
Enter the details of the mode you selected in Step 2
For security purposes, fill the captcha accurately
Hit submit.

2. On the website of NSE
Visit NSE's IPO allotment page
Select ‘Equity & SME IPO Bid details’.
Under ‘Select Symbol’, choose ‘PERNIASPOP’.
Put in your PAN No. and Application No.
Click on ‘Submit’ to proceed

3. On the website of BSE

Visit BSE's IPO allotment page
Under the issue type, click Equity
Under the issue name, select Purple Style Labs Limited in the dropbox
Write the application number
Add the PAN card ID
Click on 'I am not a Robot' and hit search button

To recall, the IPO of Purple Style Labs was sold in the price band of Rs 546-575 apiece between August 31 and September 02. The company sold the issue with a lot size or 26 equity shares and its multiples thereafter. It raised a total of Rs 680 crore via IPO, with issue being overall subscription of only 1.29 times, fetching only 64,000 applications and bids just Rs 510 crore.

On an individual basis, the portion reserved for qualified institutional bidders (QIBs) saw a subscription of 1.43 times, while the portion for retail investors was subscribed 1.57 times. The allocation for non-institutional investors (NIIs) was subscribed only 84 per cent during the three-day subscription period.

Following the muted subscription, the grey market premium (GMP) has seen a sharp correction. Last heard, Purple Style Labs IPO was commanding a GMP of Rs 1.5-2 apiece, suggesting an muted listing for the investors. Its premium stood around Rs 30-35 before during the bidding period.

Axis Capital and IIFL Capital are the book running lead managers for the Purple Style Labs IPO, while Kfin Technologies is the registrar of the issue. Refunds of the bidding amount are expected to be processed on Friday, September 04. Shares of the company shall be listed on both BSE and NSE on Monday, September 07.