The IPOs of Deepa Jewellers and Purple Style Labs are currently open for subscription, with investors tracking their latest grey market premium (GMP) trends. Based on the latest data, Deepa Jewellers is commanding a significantly stronger grey market premium, while Purple Style Labs is likely to see flat listing gains.
The public issue of Deepa Jewellers opened on Sept. 1, while Purple Style Labs launched its IPO on Aug. 31.
Amid the ongoing bidding window, here's what the latest GMP trends indicate for these IPOs:
IPO | GMP | Implied Gains |
Deepa Jewellers | Rs 44 | 24.86% |
Purple Style Labs | Rs 2 | 0.35% |
Note: Grey market premiums are unofficial and may not accurately reflect the stock's actual listing performance.
Deepa Jewellers IPO Latest GMP
Deepa Jewellers' latest GMP stands at Rs 44, implying a listing gain of 24.86%. With the upper price band of Rs 177, the GMP implies a listing price of around Rs 221 per share. Based on GMP, Deepa Jewellers has a stronger listing-gain potential.
Deepa Jewellers IPO Latest Subscription Status
The IPO has been subscribed 0.86 times as of 9:50 a.m. on Wednesday, on the second day of the bidding.
Qualified Institutional Buyers (QIBs): 0.11 times
Non-Institutional Investors (NIIs): 0.63 times
- Retail Individual Investors (RIIs): 1.38 times
Retail investors have subscribed 1.38 times, while QIB and NII portions remain below full subscription.
ALSO READ: Deepa Jewellers IPO GMP Today: Grey Market Premium Points To Strong Listing; Key Details
Deepa Jewellers IPO Details
- Issue size: Deepa Jewellers IPO is a book-built issue of Rs 459.72 crore.
- Bidding window: Sept. 1 to Sept. 3
- Share allotment: Sept. 4
- Price band and lot size: Deepa Jewellers IPO has set the issue price band at Rs 168 to Rs 177 per share. The lot size for an application is 84 shares. The minimum amount of investment required by an individual investor (retail) is Rs 14,868 (based on the upper price).
- Listing Date: Sept. 8
- Registrar and lead manager: Emkay Global Financial Services Ltd. is the book-running lead manager, and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Purple Style Labs IPO GMP
The latest GMP of Purple Style Labs IPO is Rs 2 as of 8:30 a.m. on Sept. 2. With the upper price band of Rs 575, the latest GMP implies a listing price of around Rs 577 per share. This translates into a GMP-implied gain of 0.35% over the issue price.
Purple Style Labs IPO Subscription Status
The IPO has been subscribed 0.24 times as of 9:50 a.m. on Wednesday, on the final day of the bidding.
- Qualified Institutional Buyers (QIBs): 0.06 times
- Non-Institutional Investors (NIIs): 0.13 times
- Retail Individual Investors (RIIs): 0.93
On the final day of bidding, the IPO remains under-subscribed overall, with the retail portion nearing full subscription.
Purple Style Labs IPO Details
- Issue size: Purple Style Labs IPO is a book-built issue of Rs 680 crore.
- Bidding window: Aug. 31 to Sept. 2
- Share allotment: Sept. 3
- Listing date: Sept. 7
- Price band and lot size: Purple Style Labs IPO is set to issue at a price band of Rs 546 to Rs 575 per share. The lot size for an application is 26 shares. The minimum amount of investment required by an individual investor (retail) is Rs 14,950 (26 shares) (based on the upper price).
- Lead manager and registrar: Axis Capital Ltd. is the book-running lead manager, and KFin Technologies Ltd. is the registrar of the issue.
Deepa Jewellers vs Purple Style Labs: Which IPO Offers the Best Listing Gain?
Based on the latest GMP, Deepa Jewellers has the highest implied listing upside and potential per-lot gain among the two IPOs.
- Deepa Jewellers: Rs 3,696 implied gain per lot (Rs 44 GMP × 84 shares)
- Purple Style Labs: Rs 52 implied gain per lot (Rs 2 GMP × 26 shares)
Grey market premiums are unofficial and subject to market volatility. Investors should evaluate business fundamentals, financial valuation, and overall market sentiment before making an investment decision.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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