The primary market is set for a busy week, with several IPOs opening for subscription. Among the issues drawing attention are Purple Style Labs, Rays of Belief, Deepa Jewellers, Farm Peace and Ashutosh Fibre.
For investors looking at listing gains, grey market premium (GMP), subscription trends, and institutional participation are likely to remain key factors this week. However, GMP is unofficial, can change rapidly, and should not be treated as a guaranteed listing return.
Purple Style Labs, which operates Pernia’s Pop-Up Shop, is launching a Rs. 680 crore IPO. The price band has been fixed at Rs. 546–575 per share, with a lot size of 26 shares. The issue opened on August 31 and will close on September 2.
The current GMP is around Rs. 28, indicating an indicative listing price near Rs. 603 at the upper band, or roughly 4.9% above the Rs. 575 issue price.
The company is still loss-making and has cash-flow concerns. Around 16% of its revenue comes from the US and UK, exposing it to international trade and tariff risks.
Rays of Belief is bringing a relatively small Rs. 125 crore issue. Its price band is Rs. 227–239, and the IPO will remain open from September 1 to September 3.
Current GMP indications are around Rs. 14, suggesting a listing price of approximately Rs. 253, or about 5.9% above the upper price band.
GMP has been volatile, with another tracker recently showing a much wider range. Subscription figures will therefore be important to gauge investor interest.
Deepa Jewellers is launching an IPO of approximately Rs. 459.72 crore. The price band has been set at Rs. 168–177. The issue opens on September 1, closes on September 3, and will list on the NSE and BSE.
The issue comprises a Rs. 250 crore fresh issue and an OFS of about 1.18 crore shares.
Farm Peace is raising about Rs. 32 crore through an SME IPO at a fixed price of Rs. 59 per share. The issue opens on September 1 and closes on September 3.
The company operates an integrated contract-farming model focused on processed-grade potatoes used for products such as French fries and chips. Its current GMP stands at Rs. 0.
Ashutosh Fibre is raising approximately Rs. 56.35 crore, with a price band of Rs. 87–92. The IPO opened on August 31 and closes on September 2.
The latest reported GMP is around Rs. 37 against the Rs. 92 upper band, implying an indicative price of roughly Rs. 129, or about 40% above the upper issue price.
Ashutosh Fibre is an NSE SME IPO, with the minimum application being much larger than a typical mainboard IPO.
Among these five IPOs, Ashutosh Fibre currently has the strongest GMP signal, followed by Rays of Belief. Purple Style Labs remains a higher-risk mainboard option, while Deepa Jewellers’ subscription numbers will be important. Farm Peace currently has the weakest GMP signal.
For the September 1–3 period, investors will closely watch QIB subscription, NII subscription, and GMP movement. A rise in institutional demand along with a strengthening GMP could indicate improving sentiment, while a falling GMP despite strong subscription could signal cooling grey-market enthusiasm.
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