Three public issues worth ₹1,265 crore are opening next week, with 14 companies set to debut on the stock exchanges, as per Moneycontrol's 24 August report. Seven mainboard IPOs will open for subscription, including three major issues from Purple Style Labs, Deepa Jewellers, and Rays of Belief, alongside SME issues from Ashutosh Fibre, Shanti Inorganics, Phychem Technologies, and Farm Peace. The week's activity comes amid a still-active primary market, with Reuters reporting that IPOs in India raised $2.36 billion in the first half of 2026. Earlier, Reuters reported that India was the world's second-largest IPO market in 2025 after the U.S., with 367 listings raising $21.8 billion.
Purple Style Labs IPO will launch on August 31 with a ₹680 crore issue priced at ₹546-575 per share, with subscription closing on September 2. The issue is entirely a fresh issuance of 1.18 crore shares with no Offer For Sale component, as per Mint reports. The company operates Pernia's Pop-Up Shop, a multi-brand luxury omni-channel fashion platform offering over 2 lakh products from more than 1,300 designers via its digital platform and 14 experience centres. The proceeds will fund investment in wholly-owned subsidiary PSL Retail for lease payments, sales and marketing expenses, and general corporate purposes. At the IPO price band, the issue is valued at 469 times the face value at the floor price and 494 times at the cap price, positioning Purple Style Labs as a premium-priced offering within the retail fashion sector. Axis Capital serves as the book-running lead manager, while the stock is likely to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 7. The allotment is expected to be completed on September 3.
Deepa Jewellers IPO will open on September 1 with a price band of ₹168-177 per share, running until September 3. The issue comprises new equity shares worth ₹250 crore and an offer for sale component of more than 1.18 crore equity shares totalling ₹209.72 crore by promoters Ashish Agarwal and Seema Agarwal. Retail investors can bid for at least 84 shares and in multiples thereof, as per Mint reports. Incorporated in 2016, Deepa Jewellers is an organised B2B designer, processor and supplier of hallmarked gold jewellery. Bidding by anchor investors will take place on August 31, according to the company's announcement. Emkay Global Financial Services serves as the lead manager for the issue, making it the largest fresh IPO opening next week by overall issue size. The grey market premium (GMP) of Deepa Jewellers IPO stands at ₹47, indicating a potential listing gain of around 27 per cent. The equity shares are proposed to be listed on both the BSE and NSE on September 8. Proceeds from the fresh issuance will be used for funding long-term working capital needs towards procurement, maintenance and scaling up of inventory, along with general corporate purposes.
Rays of Belief IPO will open on September 1 with a price band of ₹227-239 per share, running until September 3. The issue is exclusively a fresh issue of up to 52.30 lakh equity shares aggregating ₹125 crore. The company operates Mom's Belief brand, offering personalised intervention plans for kids with neurodevelopmental disorders including ADHD, Down Syndrome, autism spectrum disorder, cerebral palsy, learning disabilities, intellectual disability and global developmental delays. Bidding by anchor investors will take place on August 31, according to the company's announcement. Mefcom Capital Markets acts as the lead manager, with the shares proposed to be listed on both the BSE and NSE. The grey market premium (GMP) of Rays of Belief IPO stands at ₹29, indicating a potential listing gain of around 12.13 per cent. The allotment is expected on September 4, followed by a tentative listing on September 8. The issue proceeds will be utilised to fund the company's expansion plans, including establishing 319 new centres between financial year 2026-27 and fiscal 2029. The money will also be used for capital expenditure, including therapy-material inventory, centre fit-outs, and technology hardware. A lot includes 62 shares, indicating a minimum investment requirement of ₹13,940 for retail participation.
Among the three IPOs, Deepa Jewellers has the strongest performance in the grey market, with its GMP of ₹47 indicating a potential listing gain of around 27 per cent. However, ET Now reports that GMP is an unofficial indicator and can change before listing. Rays of Belief IPO shows a GMP of ₹29, indicating an expected gain of around 12.13 per cent, while Purple Style Labs IPO has a GMP of ₹30, suggesting a potential gain of around 5.22 per cent. The estimated listing price for Deepa Jewellers stands at ₹225 based on the upper price band of ₹177, while Rays of Belief's estimated listing price is ₹268 against the upper price band of ₹239. Investors should not make decisions solely on the basis of GMP and should also consider the company's financial performance, valuation, business prospects and the purpose of the IPO.
