On December 18, 2024, Purple United Sales made a strong debut on the NSE SME platform, listing at a 58% premium over its issue price. The issue price was set at ₹126 per share, but on its listing day, the shares opened at ₹199, marking a significant listing gain for investors. Despite the strong debut, the grey market premium had estimated a higher gain of around 64%, suggesting that the actual listing performance, though solid, was slightly below expectations in the unofficial market.

The public offer raised a total of ₹32.8 crores, entirely through a fresh issue of shares. The IPO saw an overwhelming response, being subscribed 160 times, reflecting strong investor demand. Non-institutional investors (NIIs) led the way, subscribing to the issue 270 times the allotted portion. Retail investors also showed significant interest, subscribing to their portion 155 times. On the other hand, qualified institutional buyers (QIBs) subscribed 86 times the reserved portion.

The company’s plans for the IPO proceeds are geared towards its expansion strategy and working capital requirements. The funds will be used to open new stores, helping to expand its reach in the highly competitive fashion industry. Additionally, some of the proceeds will go towards meeting general corporate purposes and other operational needs, helping the company strengthen its position in the market.

Purple United Sales is a fashion brand, established in 2014, that specializes in clothing, footwear, and accessories for children. The company's flagship line, "Purple United Kids," focuses on products for children aged 0-14 years, ensuring that all items undergo laboratory testing to ensure quality and safety. The company designs, develops, sources, markets, and distributes a wide variety of products for infants, toddlers, and older children, catering to the growing demand for high-quality, comfortable, and fashionable clothing for young ones.

The company’s strong debut performance reflects investor confidence in its business model and growth potential, as it looks to capitalize on the growing demand for children’s fashion in India.

The Upcoming IPOs in this week and coming weeks are Transrail Lighting, Mamata Machinery, DAM Capital  Sanathan Textiles, Concord Enviro, Newmalayan Steel, Ventive Hospitality, Senores Pharmaceuticals, Carraro India, Solar91 Cleantech, Unimech Aerospace, Rosmerta Digital, Indo Farm, and Avanse FinancialThe Current active IPO is Identical Brain Studios and NACDAC Infrastructure.
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