India, Sept. 7 -- Shares of Pernia's Pop-Up Shop parent Purple Style Labs made a weak stock market debut, listing at a discount of nearly 7% to their issue price.

The stock opened at Rs.535 on the NSE, 6.96% lower than the issue price of Rs.575. On the BSE, the shares listed at Rs.539, representing a discount of 6.26%.

The company's market capitalisation stood at Rs.4,315.29 Cr (about $456.7 Mn) at the BSE's opening price.

The muted debut came after the company's Rs.680 Cr IPO closed with an overall subscription of 1.29X. Investors placed bids for 88.54 Lakh shares against 68.49 Lakh shares on offer.

The company had fixed the price band for the IPO at Rs.546-Rs.575 per share. The IPO comprised entirely a fresh issue of shares, with no...