Laser Power And Infra IPO Day 3: GMP Declines Despite Strong Subscription Across Categories

The grey market premium (GMP) of Laser Power and Infra shares in the unlisted market slipped as the company’s initial public offering (IPO) entered its final day of bidding on July 13, 2026. Even as the premium moderated from recent levels, the public issue continued to attract healthy investor interest across categories, with strong participation from institutional and non-institutional investors, while the retail portion was fully subscribed. The issue opened for subscription on July 9 and will close on July 13 by 5:00 PM.

Laser Power and Infra is a Kolkata-based manufacturer of power cables, conductors and specialised products used in the power transmission and distribution sector. The company also undertakes engineering, procurement and construction (EPC) projects, including rural electrification, power distribution infrastructure, and installation of sub-stations. It operates three manufacturing facilities in West Bengal and serves customers across 26 states, four Union Territories and 10 countries. As on March 31, 2026, its order book stood at Rs 3,243.40 crore.

Laser Power And Infra IPO Subscription Status: Day 3

As of 1:54 PM on July 13, the IPO had been subscribed 9.39 times, with bids received for 227,786,090 shares against the 24,271,031 shares on offer.

The qualified institutional buyer (QIB) portion, excluding anchor investors, was subscribed 9.01 times after receiving bids for 62,497,610 shares against 6,934,582 shares reserved. The non-institutional investor (NII) category was subscribed 23.41 times, with bids for 121,744,700 shares against 5,200,935 shares on offer. Within this, the big NII (bNII) portion was subscribed 25.35 times with bids for 87,883,110 shares against 3,467,290 shares, while the small NII (sNII) category was subscribed 19.53 times with bids for 33,861,590 shares against 1,733,645 shares on offer.

The retail investor category was subscribed 3.59 times after attracting bids for 43,543,780 shares against 12,135,514 shares reserved. The issue does not have separate reservations for employees or shareholders. Ahead of the IPO, the company raised Rs 222.60 crore from anchor investors on July 8.

Laser Power And Infra IPO GMP Today

The latest GMP stood at Rs 28 per share. Based on the upper end of the price band of Rs 214, the estimated listing price is Rs 242 per share, implying a listing gain of about 13.08 per cent.

The GMP has remained volatile during the bidding period. It opened at Rs 24 on July 9, climbed to Rs 35.50 on July 10, Rs 36.5 on July 11, before easing to Rs 34.50 on July 12 and declining further to Rs 28 on the final day of bidding.

Laser Power And Infra IPO Details

Laser Power And Infra’s IPO is a book-built issue worth Rs 742 crore, comprising a fresh issue of 25,327,102 equity shares aggregating to Rs 542 crore and an offer-for-sale (OFS) of 9,345,793 equity shares aggregating to Rs 200 crore.

As the IPO includes a fresh issue, the proceeds from that portion will go to the company. It plans to use Rs 490 crore towards repayment or prepayment of certain borrowings, while the remaining amount will be used for general corporate purposes. The proceeds from the OFS will go to the selling shareholders.

Among the promoters, Deepak Goel is selling shares worth Rs 112.50 crore, while Devesh Goel is selling shares worth Rs 62.50 crore and Rakhi Goel is selling shares worth Rs 25 crore through the OFS. Promoter Akshat Goel is not participating in the OFS.

The IPO has a price band of Rs 203-214 per share and a face value of Rs 5 per share. Investors can apply in lots of 70 shares, requiring a minimum investment of Rs 14,980 for retail applicants at the upper end of the price band.

The basis of allotment is expected to be finalised on July 14. Refunds or release of blocked funds and credit of shares to demat accounts are scheduled for July 15. The shares are expected to list on the BSE and NSE on July 16.

IIFL Capital Services is the book running lead manager, while MUFG Intime India is the registrar to the issue.

Laser Power And Infra Financials

Laser Power And Infra reported a mixed financial performance over the last three financial years. Total income declined to Rs 2,347.89 crore in FY26 from Rs 2,592.53 crore in FY25, while it had stood at Rs 1,763.65 crore in FY24.

Despite lower revenue, profit-after-tax (PAT) increased to Rs 151.59 crore in FY26 from Rs 106.75 crore in FY25 and Rs 40.41 crore in FY24. Its earnings before interest, taxes, depreciation, and amortisation (Ebitda) also improved to Rs 301.44 crore in FY26 from Rs 250.39 crore in FY25 and Rs 156.10 crore in FY24.

As on March 31, 2026, the company had total assets of Rs 2,632.36 crore, a net worth of Rs 725.41 crore and total borrowings of Rs 828.23 crore. Reserves and surplus have not been disclosed separately in the information provided.

According to the offer document, the company reported a return on equity (ROE) of 23.32 per cent, return on capital employed (ROCE) of 17.83 per cent, return on net worth (RoNW) of 20.90 per cent, debt-to-equity (D-E) ratio of 1.10, PAT margin of 6.46 per cent and Ebitda margin of 12.96 per cent.

The pre-issue and post-issue earnings per share (EPS) are Rs 13.18 and Rs 10.80, respectively, while the corresponding price-to-earnings (P-E) ratios are 16.24 times and 19.82 times. The price-to-book value (P-BV) is 3.39 times. The offer document does not disclose the net asset value (NAV) per share in the information provided. Promoter shareholding will decline to 75.29 per cent after the issue from 100 per cent before the IPO. At the upper price band, the company’s implied market capitalisation is Rs 3,003.88 crore.