 "Purple United Sales IPO opens with 79% GMP; Check other key details here")
Purple United Sales IPO: The unlisted shares of Purple United Sales are commanding a solid premium in the grey market as the company’s initial public offering (IPO) opens for subscription today, Wednesday, December 11, 2024. The company's shares were quoted at Rs 170, reflecting a grey market premium (GMP) of Rs 75, or 78.95 per cent against the upper end of the IPO price band, revealed sources tracking unofficial markets.
Purple United Sales IPO size, price band
Purple United Sales IPO is a book-built issue of Rs 32.81 crore. The public offering consists of an entirely fresh issue of 2,604,000 equity shares.
The IPO is priced in the range of Rs 121-126 per share. The minimum bid size is 1000 shares, and investors can apply in multiples thereof. A retail investor would require a minimum of Rs 126,000 to bid for one lot of 1000 shares of Purple United Sales IPO. Also Read: Mobikwik IPO details
Purple United Sales IPO key dates
The subscription to bid for the public offering will close tentatively on Friday, December 13, 2024. The basis of allotment of Purple United Sales IPO shares is expected to be finalized on Monday, December 16, 2024. Successful allottees will receive shares in their demat accounts on Tuesday, December 17, 2024.
Purple United Sales shares are scheduled to debut on the NSE SME platform tentatively on Wednesday, December 18, 2024.
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Purple United Sales IPO objectives
According to the Red Herring Prospectus (RHP), Purple United Sales will utilise the proceeds from the public offering for expenditure on opening new stores, working capital requirements, as well as general corporate purposes. Also read: Sai Life Sciences IPO
Purple United Sales IPO registrar, lead manager
KFin Technologies is the registrar for the IPO, while Expert Global Consultants is the sole book-running lead manager for the issue.
About Purple United Sales Purple United is a fashion brand that offers clothing, shoes, and accessories for children. The company designs, develops, sources, markets, and distributes products for infants, toddlers, and older children. Purple United operates mainly in India with 17 exclusive stores and 20 shop-in-shop locations. The company's products are also available online through their website and various e-commerce platforms. As of June 30, 2024, Purple United had 161 full-time employees.