Laser Power IPO Day 3: Issue booked 1x so far. GMP hints 16% listing gain. Should you apply or skip?

The Laser Power IPO opened for subscription on Thursday, 9 July, and will remain open until Monday, 13 July. The company has fixed the Laser Power and Infra IPO price band at ₹205–214 per share, with a lot size of 70 equity shares and bids accepted in multiples of 70 shares thereafter.

Ahead of the issue, the company raised nearly ₹223 crore from anchor investors through its anchor book on Wednesday, 8 July, a day before the Laser Power IPO opening date.

The Laser Power and Infra IPO, aggregating ₹742 crore, has reserved up to 50% of the issue for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and at least 35% for retail investors.

The basis of allotment for the Laser Power IPO is expected to be finalised on Tuesday, 14 July. Shares are likely to be credited to successful applicants' demat accounts on Wednesday, 15 July, while refunds for unsuccessful bidders are expected to be processed the same day. The Laser Power IPO is scheduled to list on the BSE and NSE on Thursday, 16 July.

Laser Power & Infra Ltd. operates in both the manufacturing and engineering, procurement and construction (EPC) segments. The company manufactures power cables, conductors, aluminium wire rods, aerial bunched cables, and other products used in the power transmission and distribution industry.

The company operates three manufacturing facilities in West Bengal, with a combined installed production capacity of 85,448 metric tonnes as of 31 March 2026.

Laser Power IPO GMP today is +34.5. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Laser Power & Infra share was ₹248.5 apiece, which is 16.12% higher than the IPO price of ₹214.

According to recent grey market trends over the past ten sessions, the IPO's GMP is trending upward today, suggesting optimistic expectations for a solid listing. Throughout this timeframe, the GMP fluctuated between a low of ₹0.00 and a high of ₹36.50, as noted by experts.

Laser Power IPO subscription status was 1x on day 2, so far. The retail portion is subscribed 80%, and NII portion has been booked 1.93x, QIBs portion received 64% bids.

The company has received bids for 2,55,29,140 shares against 2,55,86,207 shares on offer at 17:00 IST, according to BSE data.

BP Equities has assigned a "Subscribe" rating to the Laser Power & Infra IPO, citing the company's long-term growth prospects driven by rising investments in power transmission and distribution infrastructure, smart grids, and network modernisation. At the upper price band of ₹214, the issue is valued at 16.2x FY26 P/E based on diluted EPS of ₹13.2. While the valuation appears relatively demanding, the brokerage believes the company's integrated business model, improving profitability, and favourable industry outlook provide strong long-term growth visibility.

Swastika Investmart has also recommended subscribing to the IPO for the medium- to long-term. The brokerage noted that the issue is priced at around 19.8x FY26 P/E, lower than listed peers such as Apar Industries and KEI Industries. It highlighted that nearly 90% of the fresh issue proceeds will be used to reduce debt, strengthening the balance sheet and improving profitability. The brokerage also pointed to the company's 42% growth in FY26 profit, supported by higher EBITDA margins despite lower revenue, and a ₹3,243 crore order book, which offers revenue visibility over the next 12–18 months.

SBICAP Securities has assigned a "Subscribe" rating with a long-term investment horizon, highlighting the company's strong financial performance. It noted that Laser Power & Infra delivered a revenue, EBITDA, and adjusted PAT CAGR of 15.4%, 39.0%, and 72.5%, respectively, during FY24–FY26. At the upper price band, the IPO is valued at 25.3x FY26 post-issue P/E, which the brokerage believes is lower than larger peers and broadly in line with companies of similar size. It added ...