Purple United Sales share price sees a blockbuster debut; stock opens with 58% premium at ₹199 apiece on NSE SME

Purple United Sales share price made a blockbuster debut on NSE SME today. On NSE SME, Purple United Sales share price was listed at ₹199, which is 58% higher than the issue price of ₹126.

Purple United Sales IPO opened for subscription on Wednesday, December 11 and closed on Friday, December 13. The SME IPO received overwhelming response from investors. Founded in 2014, Purple United is a children's fashion brand that provides apparel, footwear, and accessories for kids of all ages. The brand’s main collection, "Purple United Kids," caters to children up to 14 years old and features laboratory-tested items crafted from premium materials in vibrant colors and styles suited for any occasion. On the last bidding day, Purple United Sales IPO subscription status was 160.08 times, as per chittorgarh.com

The business primarily operates in India, featuring 17 exclusive outlets (referred to as EBOs) spread across 5 states and 10 cities. There are also 20 shop-in-shop locations within well-known retail chains. Purple United Kids products can be purchased online through their website, mobile application, and major e-commerce platforms like Myntra, Amazon, Flipkart, FirstCry, Nykaa, Hopscotch, AJJIO, and others. Furthermore, the company collaborates with 44 retailers nationwide.

Purple United Sales IPO details

Purple United Sales IPO consists of fresh issue of 26,04,000 equity shares aggregating to ₹32.81 crore. There's no offer for sale (OFS) component.

The company plans to use the net proceeds from the issue for the following purposes: funding the opening of new stores, fulfilling working capital needs, and covering general corporate expenses.

Expert Global Consultants Private Limited acts as the book-running lead manager for the Purple United Sales IPO, with Kfin Technologies Limited serving as the registrar for the offering. Prabhat Financial Services Ltd is designated as the market maker for the Purple United Sales IPO.

Purple United Sales IPO GMP today

Purple United Sales IPO GMP today is +80. This indicates Purple United Sales share price was trading at a premium of ₹80 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Purple United Sales share price is indicated at ₹206 apiece, which is 63.49% higher than the IPO price of ₹126.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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