Stellar Debut! Laser Power and Infra share price lists at ₹250, a premium of 16.8% over IPO price

Laser Power and Infra IPO Listing: Laser Power and Infra share price made a stellar debut in the Indian stock market today, July 16, as it got listed at ₹250 apiece on NSE, a premium of 16.8% over its issue price of ₹214. Meanwhile, on BSE, it debut at ₹269, up 25.70% from issue price.

The listing met Street expectations, as seen from the grey market premium (GMP). Laser Power IPO GMP stood at ₹40 per share, which indicated a likely listing price of ₹254 — a premium of 18.7% to offer price.

Laser Power IPO was subscribed 28.97 times in 3 days of bidding.

The Retail Individual Investors (RIIs) segment was booked 6.84 times, while the Non Institutional Investors (NII) category was subscribed 45.54 times. The Qualified Institutional Buyers (QIBs) category received 39.49 times subscription.

The issue was bid for 100.43 crore shares as against 3.46 crore on offer.

The initial public offering (IPO) of Laser Power & Infra opened for public subscription on July 9 and closed on July 13. The company had fixed the price band at ₹203-214 per equity share.

The basis of allotment for the IPO was finalised on July 14. Moreover, shares were credited to the demat accounts of successful applicants on July 15, while refunds to unsuccessful bidders were initiated on the same day.

The ₹742 crore public issue comprises a fresh issue of equity shares worth ₹542 crore and an Offer for Sale (OFS) of ₹200 crore by the promoters. Under the OFS, Deepak Goel will offload shares worth up to ₹112.5 crore, while Devesh Goel and Rakhi Goel will sell shares worth ₹62.5 crore and ₹25 crore, respectively.

The company plans to utilise ₹490 crore from the net proceeds of the fresh issue towards the prepayment or repayment of certain borrowings. The remaining proceeds will be used for general corporate purposes.

Ahead of the IPO launch, Laser Power & Infra raised around ₹223 crore from anchor investors. The anchor allocation was completed on July 8, a day before the public issue opened for subscription.

The lot size for the IPO was fixed at 70 shares. The minimum investment required for a retail investor is ₹14,980 (70 shares), calculated at the upper end of the price band. Out of the total issue size, up to 50% was reserved for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and at least 35% for retail investors.

The issue was managed by IIFL Capital Services and ICICI Securities, which are acting as the book-running lead managers to the IPO.

Originally incorporated in 1988, Laser Power & Infra manufactures power cables, conductors and other products used in the transmission and distribution sector, while also undertaking EPC projects. In its DRHP, the company describes itself as the fastest-growing manufacturer of power cables and conductors in India by revenue growth during the relevant period.

The company has delivered strong financial growth over the past two years. Revenue from operations increased from ₹1,314.46 crore in FY23 to ₹2,570.40 crore in FY25, representing a 39.84% CAGR. During the same period, profit after tax (PAT) rose from ₹23.19 crore to ₹106.75 crore, while EBITDA increased from ₹111.67 crore to ₹250.39 crore. EBITDA margin improved from 8.50% to 9.74%, while PAT margin expanded from 1.75% to 4.12%.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.