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NSE SME Purple United Sales makes a strong debut As on : 18-Dec-24  10:36

The scrip was listed at Rs 199, a premium of 57.94% over the initial public offer (IPO) price. The stock was currently up 1.53% compared to its listing price.

The counter hit a high of Rs 205 and a low of Rs 189.05. About 9.91 lakh shares of the company changed hands at the counter.

Purple United Sales' IPO was subscribed 148.89 times. The issue opened for bidding on 11 December 2024 and it closed on 13 December 2024. The price band of the IPO was set at Rs 121 to Rs 126 per share.

The IPO comprised fresh issue of 18,63,000 equity shares. The promoter and promoter group shareholding diluted to 63.82% from 87.54% pre-issue.

The company intends to utilize the net proceeds to meet working capital requirements, expenditure for opening new stores and general corporate purpose.

Ahead of the Purple United Sales on 10 December 2024, raised Rs 9.33 crore from anchor investors. The board allotted 7.41 lakh shares at Rs 126 per share to 6 anchor investors.

Purple United is a premium children's fashion brand that provides high-quality, versatile apparel, footwear, and accessories for infants, toddlers, and older children up to 14 years. Their products are lab-tested, made from premium materials, and come in vibrant colors and designs suitable for various occasions. The brand is exclusively available in India through a network of 24 exclusive brand outlets, shop-in-shops, and online platforms like Myntra, Amazon, Flipkart, and more. As of 31 October 2024, the company had 190 employees.

The company recorded revenue from operations of Rs 30.50 crore and net profit of Rs 3.29 crore for the period as on 30 September 2024.

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