Purple United Sales IPO Opens Today: GMP, Price Band And All You Need To Know
Purple United Sales IPO GMP (grey market premium) was Rs 50 as of 7:24 a.m. on December 11, as per InvestorGain.
Children's fashion brand Purple United Sales Ltd. is launching its public offer on Wednesday. The issue consists entirely of a fresh issue of 26.04 lakh shares. Investors planning to bid in the IPO must check out these key details before making any decision:
Purple United Sales IPO: All You Need To Know
The Rs 32.81-crore Purple United Sales IPO is solely a fresh issue with no offer-for-sale component. The offer will remain open for bidding between Dec. 11-13.
Share allotment for the IPO is likely to be done on Dec. 16, with credit of shares to demat accounts of successful bidders on Dec. 17. Refunds will be initiated for non-allottees on the same day.
Shares of Purple United Sales are likely to list on Dec. 18, on the NSE SME platform, Emerge.
Purple United Sales IPO price band has been set between Rs 121 and Rs 126 per share. Retail investors have to apply for a minimum of 1,000 shares in one lot, taking the investment amount to Rs 1,26,000 for a single application.
KFin Technologies Ltd. is the registrar for the Purple United Sales IPO, while Expert Global Consultants Pvt. will act as its book-running lead manager. Prabhat Financial Services is the market maker for the issue.
Purple United Sales IPO GMP Today
Purple United Sales IPO GMP (grey market premium) was Rs 50 as of 7:24 a.m. on December 11, as per InvestorGain. This implies a listing gain of 39.68%, with the shares likely to debut on bourses at Rs 176 apiece if the current trends keep up.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Purple United Sales: Business And Financials
Purple United Sales Ltd., through its flagship brand Purple United Kids, offers clothing, shoes and accessories to kids of all ages. It uses laboratory-tested products made of high-quality materials to make its clothes. Other than developing, sourcing, marketing and distributing clothing and footwear for children up to 14 years, the company sells accessories and hardware, including strollers.
Purple United Sales Ltd. has 17 exclusive stores across five states and 10 cities in India, as well as 20 shop-in-shop locations in popular retail chains. Its products are also available online on their website and e-commerce platforms, including Flipkart, Amazon, Myntra, Nykaa, FirstCry, Ajio, Hopscotch and more.
Use Of Proceeds
The company will use proceeds of the IPO to open new stores, meet working capital requirements and for general corporate purposes.
Financials
Purple United Sales Ltd. reported a revenue from operations of Rs 30.5 crore and a net profit of Rs 3.29 crore for the half year ended September 30, 2024. In FY24, the company’s revenue increased 66.91% to Rs 42.91 crore from Rs 25.71 crore in FY23. The net profit during this time rose 222.7% year-on-year to Rs 4.81 crore from Rs 1.49 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
