Ace investor Mukul Agrawal has made two fresh moves in his portfolio. He entered Purple Style Labs, known for Pernia’s Pop Up Shop, and increased his stake in Yaap Digital. Both highlight his strategy of spotting companies early before they gain wider visibility.
Purple Style Labs listed on 7 September 2026 with a ₹680 crore issue. Agrawal held 1.37% pre issue worth nearly ₹59 crore at ₹543 per share. The IPO was subscribed 1.29 times but the grey market premium fell to zero. The stock opened below issue price at ₹575 and now trades near ₹563. The company reported FY26 sales of ₹558 crore and EBITDA of ₹21 crore but a net loss of ₹285 crore. Debt stood at ₹784 crore and net worth was negative. Fresh capital may ease stress but profitability remains uncertain.
Yaap Digital, a small cap digital agency, saw Agrawal raise his holding from 1.43% to 1.87%. The IPO in March 2026 raised ₹80.11 crore at ₹145 per share. The stock listed at a discount, later peaked at ₹214 and now trades at ₹132. FY26 sales were ₹185 crore with net profit of ₹22 crore. Margins improved to 15% but cash flow was negative. Growth potential exists with acquisitions but execution risks remain.
Investors should watch balance sheet repair and cash flow conversion before considering exposure.