Purple Wave Infocom IPO Day 1: Check GMP, subscription status, key dates, and other details

Purple Wave Infocom IPO Day 1: The initial public offering (IPO) of Purple Wave Infocom opened for public subscription today, November 28, and will conclude on Tuesday, December 2. The ₹31.45 crore SME issue is entirely a fresh issuance of 25 lakh shares with no offer for sale (OFS) component. The price band for the Purple Wave Infocom IPO has been set between ₹120 and ₹126 per equity share. Smart Horison Capital Advisors is acting as the book-running lead managers for the IPO, while Maashitla Securities Pvt Ltd has been appointed as the registrar. The basis of allotment for the Purple Wave Infocom IPO is expected to be finalised on Wednesday, December 3. Successful applicants are likely to receive the shares on Thursday, December 4, while refunds for those who do not receive an allotment will also be processed on the same day. Purple Wave Infocom is scheduled to list its shares on BSE SME on Friday, December 5. The company plans to deploy the net proceeds from the fresh issue toward: (i) covering cloud infrastructure expenses, (ii) investment in research, design and development of its products and platform, (iii) the purchase of computer systems essential for its operations, and (iv) supporting inorganic expansion through unspecified acquisitions, along with general corporate purposes. Separately, the company announced on November 27 that it had secured ₹7.99 crore from anchor investors ahead of the IPO launch. Of the total net offer, 44.63% is allocated to qualified institutional buyers (QIBs), while 35.10% is earmarked for retail investors. The remaining 15.14% has been reserved for non-institutional investors (NIIs). The IPO lot size is set at 1000 shares. For retail investors, the minimum investment is 2 lots. At the upper end of the price band, ₹126, the minimum investment required amounts to ₹2,52 lakh. Purple Wave Infocom IPO GMP Today Investor sentiment toward the IPO is muted, as Purple Wave Infocom's grey market premium (GMP) stood at ₹0 on November 28. This suggested that the stock was likely to debut at ₹126, same as IPO price. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Purple Wave Infocom IPO subscription status Purple Wave Infocom IPO subscription will open at 11 am today. About Purple Wave Infocom Incorporated in 2007, Purple Wave Infocom Ltd is engaged in the sale and integration of digital professional audio-video (PRO AV) equipment. The company provides end-to-end PRO AV and automation solutions, covering system design, integration, management, and on-site support. It also delivers cloud-based communication and automation services to organisations across India and international markets. In addition, Purple Wave offers after-sales value-added services, including annual maintenance contracts (AMC) for technical support, as well as repair and maintenance of AV infrastructure to ensure optimal performance and customer satisfaction. The company reported revenue of ₹126.15 crore in 2025, compared with ₹90.04 crore in 2024, reflecting strong year-on-year growth. Profit also increased to ₹9.12 crore in 2025 from ₹5.44 crore in 2024.