Laser Power & Infra Ltd is set to begin trading on Indian stock exchanges on Thursday, July 16, after its initial public offering closed with robust demand from institutional and non-institutional investors.
The company, a major manufacturer of power cables and conductors based in Kolkata, priced its issue between ₹203 and ₹214 per share, aiming to raise ₹742 crore through the offering.
Grey-market premiums (GMP) are currently indicating a listing price of approximately ₹258, suggesting a potential gain of over 20% from the upper end of the price band.
The listing comes after a notable shift in market sentiment.
While the IPO opened to a muted response on its first day, attracting subscriptions equivalent to just 0.17 times the issue size, demand strengthened significantly in subsequent days.
Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) drove the final oversubscription, signaling renewed confidence in the company’s growth prospects and the broader infrastructure sector.
Grey-market premiums (GMP) are currently indicating a listing price of approximately ₹258, suggesting a potential gain of over 20% from the upper end of the price band.