Laser Power & Infra shares rise 23% on Indian debut
Cable manufacturer Laser Power & Infra surged on its market debut, reflecting strong investor demand for Indian power infrastructure plays amid a rapidly expanding domestic market.
Laser Power & Infra made a strong debut on Indian exchanges on July 16, listing at a significant premium to its issue price. The cable manufacturer opened at ₹269 on the BSE, a 25.7% premium, and at ₹250 on the NSE, a 16.8% premium over the ₹214 issue price.
The stock built on its initial gains during early trading. By 1:50 PM, shares were changing hands at ₹263.08 on the NSE, representing a 23% premium to the issue price after hitting an intraday high of ₹270.
The listing aligned with pre-market expectations, where a grey market premium of ₹40 had pointed to a debut around ₹254. The initial public offering, which ran from July 9 to July 13, was heavily oversubscribed at 38.94 times. Managed by IIFL Capital Services Ltd, the mainboard issue raised ₹742 crore through a ₹542 crore fresh issue and a ₹200 crore offer for sale.
Laser Power & Infra produces power cables, conductors and specialised products for India's transmission and distribution sector. The company has over three decades of operational experience and operates three manufacturing units in West Bengal with a combined capacity of 85,448 metric tonnes. It also holds registered supplier status for Indian Railways and is an accredited vendor for the Research Design & Standard Organization.
The debut highlights ongoing investor appetite for India's power infrastructure buildout. “The Indian wires and cables market grew from ₹787 billion in FY20 to ₹1,408 billion in FY25, at a CAGR of 12.3%,” said Ravi Singh, Chief Research Officer at Master Capital Services Ltd. He projects the market will reach ₹2,350-2,550 billion by FY30, driven by railway electrification, smart grid investments and rising export demand.
Despite the strong listing, analysts caution that near-term volatility remains a factor. “Short-term traders can keep an eye on market sentiment and listing momentum. Future price movement, however, is probably going to rely more on company performance than listing optimism,” Singh said. He noted that long-term investors may hold the stock for exposure to India's growing infrastructure and electricity transmission spending.
