Laser Power & Infra IPO: Issue receives tepid response on Day 01, subscribed 0.17x; GMP signals healthy listing

Laser Power & Infra Ltd., an integrated manufacturer of power cables and conductors, received a muted response from investors on the first day of its initial public offering (IPO), which opened for subscription on Thursday.

By the end of Day 1, the issue was subscribed 0.17 times, with bids received for 41.78 lakh shares against the 2.42 crore shares on offer, according to exchange data.

The retail investor portion was subscribed 0.26 times, while the non-institutional investor (NII) category saw 0.20 times subscription. The qualified institutional buyers (QIB) portion is yet to open for bidding.

Ahead of the IPO, the company raised ₹222 crore from anchor investors, including Nippon India Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, and Motilal Oswal Mutual Fund.

Laser Power & Infra IPO details

The IPO size is ₹742 crore, comprising a fresh issue of equity shares worth ₹542 crore and an offer for sale (OFS) worth ₹200 crore by the existing promoters. The issue price band has been fixed at ₹203-214 per equity share with a face value of ₹5. The issue will open for subscription on Thursday, July 9, and close on Monday, July 13.

The IPO lot size has been fixed at 70 equity shares, and bids can be placed in multiples of 70 shares thereafter.

The company has reserved up to 50% of the issue for qualified institutional buyers (QIBs), not less than 15% for non-institutional investors (NIIs), and not less than 35% for retail investors.

Tentatively, the basis of allotment is expected to be finalised on Tuesday, July 14. The company is likely to initiate refunds on Wednesday, July 15, while shares will be credited to the demat accounts of successful applicants on the same day. The shares are scheduled to be listed on the BSE and NSE on Thursday, July 16.

Laser Power & Infra signals a healthy listing

As of today, the grey market premium (GMP) for Laser Power & Infra stood at ₹18 per share, indicating the stock could list above its issue price. Based on the prevailing GMP and the upper price band, the estimated listing price works out to around ₹227 per share, implying a premium of nearly 8.41%.

The GMP reflects the difference between an IPO's issue price and its expected listing price in the unofficial market. However, investors should note that GMP is only an early indicator and should not be considered the sole basis for an investment decision.

About the company

Laser Power & Infra manufactures power cables, conductors, and other transmission and distribution (T&D) equipment from its three manufacturing facilities in West Bengal, which together have an installed capacity of 85,448 metric tonnes.

In addition to manufacturing, the company executes engineering, procurement, and construction (EPC) projects, including rural electrification, power distribution infrastructure, and substations. In FY26, the manufacturing segment contributed 73% of total revenue, while the EPC business accounted for the remaining 27%.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.