Laser Power & Infra’s ₹742 crore initial public offering closed its bidding window with a 38.49 times subscription, marking a dramatic turnaround from a muted opening.
The Kolkata-based power cable and infrastructure manufacturer saw demand accelerate sharply on the final day, July 13, as investors rushed to secure allocations before the cutoff.
Qualified institutional buyers (QIBs) were the primary engine behind the surge, subscribing to their quota 92.25 times.
This institutional appetite was bolstered by anchor investments totaling ₹223 crore, which helped stabilize interest after the issue opened to a tepid response.
Non-institutional investors also contributed to the oversubscription, though the QIB segment dominated the final tally.
The IPO’s trajectory highlights the volatility of retail sentiment versus institutional conviction in India’s current equity market.