Laser Power India IPO set for strong debut on heavy QIB demand
Laser Power & Infra is set to list on Thursday after massive institutional demand, signaling robust investor appetite for the Indian cable manufacturer's debt-reduction capital raise.
Shares of Laser Power & Infra will begin trading on Indian exchanges on Thursday. The debut caps off an initial public offering that drew heavy demand from institutional buyers.
The institutional tranche was booked 92.25 times, while non-institutional investors subscribed 43.34 times their allocated portion. Retail individual investors subscribed 6.59 times their reserved quota. Bidding ran from July 9 to July 13, with share allotments finalized the following day.
The IPO was priced at the top of its ₹203 to ₹214 range, with a face value of ₹5 per share and a minimum lot size of 70 shares. Ahead of trading, the grey market premium sits at ₹44, pointing to an expected listing price around ₹258 per share. This represents a 20.56% premium over the upper issue price.
The Kolkata-based power cables and transmission products manufacturer is raising ₹742 crore in total. This capital comprises a fresh equity issue of ₹542 crore and an offer-for-sale of ₹200 crore by the Goel family, the company's promoters.
For market professionals, the planned deployment of the fresh capital is the central financial narrative. Laser Power intends to direct ₹499 crore toward repaying existing debt, with the remainder allocated to general corporate needs. The company carried a total debt burden of ₹935.7 crore as of June 17, meaning the proceeds will eliminate more than half of its outstanding liabilities.
The final deal size is notably smaller than the ₹1,200 crore initially targeted in a draft red herring prospectus filed in September 2025. The offering ultimately launched after receiving approval from the Securities and Exchange Board of India in February 2026. IIFL Capital Services and ICICI Securities acted as the lead managers to the issue.
