Laser Power & Infra Ltd’s initial public offering opened to a muted response on its first day, attracting subscriptions equivalent to just 0.17 times the issue size.
The Kolkata-based manufacturer of power cables and conductors had previously scaled back its offering size to ₹742 crore, setting a price band of ₹205 to ₹214 per share ahead of the July 9 debut.
Despite the sluggish opening, market sentiment remains cautiously optimistic.
Grey market premiums (GMP) are signaling a healthy listing potential, suggesting that the initial lack of retail frenzy may not translate into a listing loss.
The company successfully raised ₹222 crore from anchor investors, providing a foundational base for the issue.
This tepid start stands in sharp contrast to the broader Indian IPO market, which has recently been characterized by intense retail appetite.