Laser Power & Infra IPO Day 2: GMP signals 11% listing gain; Check subscription status, key details
The Laser Power & Infra IPO is currently in its second day of bidding. Investor interest remains moderate, with a positive Grey Market Premium observed. The company plans to raise funds primarily for debt repayment and general corporate needs. Its...
By Ritesh Presswala, ETMarkets.com |
ETMarkets.com
The Rs 742-crore Laser Power & Infra IPO has entered its second day of bidding, attracting moderate investor interest. The issue currently commands a Grey Market Premium of Rs 24, or around 11% over the upper price band of Rs 214. If the premium holds until listing, the shares are expected to debut at an estimated Rs 238 per share.
The IPO, which opened on July 10, will remain available for subscription until July 13, 2026. The company has fixed the price band at Rs 203-Rs 214 per equity share.
Laser Power & Infra IPO Subscription Status
On the first day of bidding, the IPO was subscribed 16% against the 2.55 crore shares on offer.
Retail Individual Investors (RIIs): Subscribed 23% against the offered 1.27 crore shares, reflecting stronger participation from retail investors.
Non-Institutional Investors (NIIs): Subscribed 19% against the offered 54.82 lakh shares.
Qualified Institutional Buyers (QIBs): No bids were received on Day 1 against the offered 73.10 lakh shares.
Laser Power & Infra IPO GMP
The latest Grey Market Premium (GMP) stands at Rs 24, or 11% above the upper price band of Rs 214, indicating an estimated listing price of around Rs 238 per share, assuming the current market sentiment remains unchanged until the listing day.
IPO Details
The Rs 742-crore public issue comprises a fresh issue and an Offer for Sale (OFS). Through the fresh issue, the company plans to raise Rs 542 crore by issuing 2.53 crore new equity shares. The proceeds will primarily be utilized towards debt repayment and other general corporate purposes.
The OFS component includes 0.93 crore equity shares worth Rs 200 crore, allowing existing shareholders to partially exit their investments and unlock value. The Offer for Sale will be carried out by promoter shareholders Deepak Goel, Rakhi Goel, and Devesh Goel, who will reduce part of their stake through the public offering.
The share allotment for the IPO is expected to be finalized on July 14, 2026. Following this, Laser Power & Infra shares are likely to be listed on both the NSE and BSE on July 16, 2026.
At the upper price band of Rs 214 per share, investors can bid for the IPO in lots of 70 shares. Retail investors applying for the minimum one lot will need to invest Rs 14,980.
IIFL Capital Services Ltd. has been appointed as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. will serve as the registrar.
About Laser Power & Infra
Laser Power & Infra Ltd. is an integrated player in the power transmission and distribution sector, engaged in the manufacturing of power cables, control cables, conductors, and other specialised electrical products.
Beyond manufacturing, the company has established a strong presence in the Engineering, Procurement and Construction (EPC) segment, undertaking turnkey projects across rural electrification, power distribution infrastructure, substations, and transmission networks.
As of March 31, 2026, Laser Power & Infra operated three manufacturing facilities in West Bengal with a combined installed production capacity of 85.448 MT.
The company's business is divided into two core verticals i.e. Manufacturing and EPC, both serving the power transmission and distribution ecosystem. Its manufacturing portfolio includes power cables, control cables, conductors, and other specialised products used in power infrastructure projects. Through its EPC business, the company delivers end-to-end solutions for rural electrification, urban power distribution, distribution infrastructure development, and turnkey transmission projects.
Laser Power & Infra has built a wide execution network spanning 26 states, four Union Territories, and 10 international markets. As of March 31, 2026, the company reported an order book of Rs 32,434 million (approximately Rs 3,243 crore), providing healthy revenue visibility for the coming years.
Objects of the Issue
The primary objective of the fresh issue is to reduce the company's debt burden by prepaying or repaying certain outstanding borrowings amounting to Rs 490 crore.
The remaining proceeds will be utilised for general corporate purposes and issue-related expenses, in line with the company's funding requirements.
Financial Performance
Laser Power & Infra reported a mixed financial performance in FY26, with revenue declining while profitability improved significantly due to better operational efficiency.
Total income stood at Rs 2,347.89 crore in FY26, compared with Rs 2,592.53 crore in FY25, although it remained well above the Rs 1,763.65 crore recorded in FY24. Meanwhile, profit after tax (PAT) increased to Rs 151.59 crore in FY26 from Rs 106.75 crore in FY25 and Rs 40.41 crore in FY24.
On a year-on-year basis, total income declined by around 9% in FY26, reflecting slower revenue growth. However, PAT rose nearly 42%, indicating improved margins and stronger operating performance.
Key Risk Factors
One of the key risks highlighted in the company's Red Herring Prospectus (RHP) is its high dependence on a limited number of customers. The top 10 customers accounted for 72.14% of total revenue in FY26, 68.87% in FY25, and 53.37% in FY24.
A decline in business from these major customers, delays in project execution, or contract cancellations could adversely affect the company's revenue, profitability, cash flows, and overall financial performance.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The IPO, which opened on July 10, will remain available for subscription until July 13, 2026. The company has fixed the price band at Rs 203-Rs 214 per equity share.
Laser Power & Infra IPO Subscription Status
On the first day of bidding, the IPO was subscribed 16% against the 2.55 crore shares on offer.
Retail Individual Investors (RIIs): Subscribed 23% against the offered 1.27 crore shares, reflecting stronger participation from retail investors.
Non-Institutional Investors (NIIs): Subscribed 19% against the offered 54.82 lakh shares.
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Qualified Institutional Buyers (QIBs): No bids were received on Day 1 against the offered 73.10 lakh shares.
Laser Power & Infra IPO GMP
The latest Grey Market Premium (GMP) stands at Rs 24, or 11% above the upper price band of Rs 214, indicating an estimated listing price of around Rs 238 per share, assuming the current market sentiment remains unchanged until the listing day.
IPO Details
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The Rs 742-crore public issue comprises a fresh issue and an Offer for Sale (OFS). Through the fresh issue, the company plans to raise Rs 542 crore by issuing 2.53 crore new equity shares. The proceeds will primarily be utilized towards debt repayment and other general corporate purposes.
The OFS component includes 0.93 crore equity shares worth Rs 200 crore, allowing existing shareholders to partially exit their investments and unlock value. The Offer for Sale will be carried out by promoter shareholders Deepak Goel, Rakhi Goel, and Devesh Goel, who will reduce part of their stake through the public offering.
ADVERTISEMENT
The share allotment for the IPO is expected to be finalized on July 14, 2026. Following this, Laser Power & Infra shares are likely to be listed on both the NSE and BSE on July 16, 2026.
At the upper price band of Rs 214 per share, investors can bid for the IPO in lots of 70 shares. Retail investors applying for the minimum one lot will need to invest Rs 14,980.
IIFL Capital Services Ltd. has been appointed as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. will serve as the registrar.
About Laser Power & Infra
Laser Power & Infra Ltd. is an integrated player in the power transmission and distribution sector, engaged in the manufacturing of power cables, control cables, conductors, and other specialised electrical products.
Beyond manufacturing, the company has established a strong presence in the Engineering, Procurement and Construction (EPC) segment, undertaking turnkey projects across rural electrification, power distribution infrastructure, substations, and transmission networks.
As of March 31, 2026, Laser Power & Infra operated three manufacturing facilities in West Bengal with a combined installed production capacity of 85.448 MT.
The company's business is divided into two core verticals i.e. Manufacturing and EPC, both serving the power transmission and distribution ecosystem. Its manufacturing portfolio includes power cables, control cables, conductors, and other specialised products used in power infrastructure projects. Through its EPC business, the company delivers end-to-end solutions for rural electrification, urban power distribution, distribution infrastructure development, and turnkey transmission projects.
Laser Power & Infra has built a wide execution network spanning 26 states, four Union Territories, and 10 international markets. As of March 31, 2026, the company reported an order book of Rs 32,434 million (approximately Rs 3,243 crore), providing healthy revenue visibility for the coming years.
Objects of the Issue
The primary objective of the fresh issue is to reduce the company's debt burden by prepaying or repaying certain outstanding borrowings amounting to Rs 490 crore.
The remaining proceeds will be utilised for general corporate purposes and issue-related expenses, in line with the company's funding requirements.
Financial Performance
Laser Power & Infra reported a mixed financial performance in FY26, with revenue declining while profitability improved significantly due to better operational efficiency.
Total income stood at Rs 2,347.89 crore in FY26, compared with Rs 2,592.53 crore in FY25, although it remained well above the Rs 1,763.65 crore recorded in FY24. Meanwhile, profit after tax (PAT) increased to Rs 151.59 crore in FY26 from Rs 106.75 crore in FY25 and Rs 40.41 crore in FY24.
On a year-on-year basis, total income declined by around 9% in FY26, reflecting slower revenue growth. However, PAT rose nearly 42%, indicating improved margins and stronger operating performance.
Key Risk Factors
One of the key risks highlighted in the company's Red Herring Prospectus (RHP) is its high dependence on a limited number of customers. The top 10 customers accounted for 72.14% of total revenue in FY26, 68.87% in FY25, and 53.37% in FY24.
A decline in business from these major customers, delays in project execution, or contract cancellations could adversely affect the company's revenue, profitability, cash flows, and overall financial performance.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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