India, Aug. 31 -- Pernia's Pop Up Shop parent Purple Style Labs' initial public offering (IPO) got off to a subdued investor on the first day of bidding. As of 14:48 IST, investors have cumulatively placed bids for 5.59 Lakh shares against 68.50 Lakh shares on offer, translating to a 8% subscription, as of 13:03 IST.

The highest number of bids have come from retail investors till now, who have placed bids for 4.85 Lakh shares against the 12.45 Lakh shares earmarked for them. This translates to a 39% subscription of their quota.

Following retail investors, non institutional investors (NIIs) have placed bids for 74,126 shares against the 18.68 Lakh shares reserved for them. This translates to a subscription of a mere 4% till now.

Meanwhi...