Laser Power & Infra IPO Day 3: GMP hints at 17% listing gains; Check subscription status, key details
By the end of the second day of bidding, the IPO had been fully subscribed, receiving bids for 100% of the 2.55 crore shares on offer. The retail investor segment was subscribed 80%, with bids received for 1.27 crore shares reserved for that categ...
By Ritesh Presswala, ETMarkets.com |
ETMarkets.com
The Rs 742-crore Laser Power & Infra IPO has entered its third and final day of bidding, with investor participation gaining traction. The issue is currently commanding a Grey Market Premium (GMP) of Rs 36, indicating a potential 17% listing gain over the upper price band of Rs 214.
By the end of the second day of bidding, the IPO had been fully subscribed, receiving bids for 100% of the 2.55 crore shares on offer. The retail investor segment was subscribed 80%, with bids received for 1.27 crore shares reserved for that category.
The company has set the price band at Rs 203–214 per equity share. The Rs 742-crore public issue consists of a fresh issue and an Offer for Sale (OFS). Through the fresh issue, Laser Power & Infra aims to raise Rs 542 crore by issuing 2.53 crore new equity shares.
The share allotment is expected to be finalized on July 14, 2026, while the company's shares are likely to be listed on both the NSE and BSE on July 16, 2026.
Retail Individual Investors (RIIs): The retail portion was subscribed 80%, with bids received against the 1.27 crore shares reserved for this category, indicating steady participation from individual investors.
Non-Institutional Investors (NIIs): The NII category saw stronger demand, getting subscribed 1.93 times against the 54.82 lakh shares on offer.
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.
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.
The company's business is divided into two core verticals—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.
The remaining proceeds will be utilised for general corporate purposes and issue-related expenses, in line with the company's funding requirements.
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.
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)
By the end of the second day of bidding, the IPO had been fully subscribed, receiving bids for 100% of the 2.55 crore shares on offer. The retail investor segment was subscribed 80%, with bids received for 1.27 crore shares reserved for that category.
The company has set the price band at Rs 203–214 per equity share. The Rs 742-crore public issue consists of a fresh issue and an Offer for Sale (OFS). Through the fresh issue, Laser Power & Infra aims to raise Rs 542 crore by issuing 2.53 crore new equity shares.
The share allotment is expected to be finalized on July 14, 2026, while the company's shares are likely to be listed on both the NSE and BSE on July 16, 2026.
Laser Power & Infra IPO subscription status
The Laser Power & Infra IPO witnessed a strong response on the second day of bidding, with the issue getting fully subscribed at 100% against the 2.55 crore shares available for subscription.Retail Individual Investors (RIIs): The retail portion was subscribed 80%, with bids received against the 1.27 crore shares reserved for this category, indicating steady participation from individual investors.
Non-Institutional Investors (NIIs): The NII category saw stronger demand, getting subscribed 1.93 times against the 54.82 lakh shares on offer.
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Qualified Institutional Buyers (QIBs): The QIB portion recorded 64% subscription on Day 2 against the 73.10 lakh shares reserved for institutional investors.Laser Power & Infra IPO GMP today
The latest Grey Market Premium (GMP) for the Laser Power & Infra IPO stands at Rs 36, representing a 17% premium over the upper price band of Rs 214. If the current market sentiment continues until the listing date, the shares are estimated to debut at around Rs 250 per share.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.
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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.
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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—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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