SRK-backed Purple Style Labs shares make weak debut, 7% below IPO price

Pernia's Pop-Up Shop-parent Purple Style Labs made a weak stock market debut on September 7, listing at a nearly 7% discount after its IPO was subscribed just over once during the three-day bidding period. The stock opened at ₹535 on the NSE, 6.96% below its ₹575 issue price. The Shah Rukh Khan-backed firm's market capitalisation stood at ₹4,315 crore.