Laser Power & Infra IPO allotment is expected today, July 14, 2026, with the company set to transfer shares to successful bidders' demat accounts on July 15. The share allotment status will be finalised today, following the 41.05 times oversubscription achieved on the final day of bidding. As per InvestorGain, the latest grey market premium (GMP) stands at ₹40.5 as of 8:00 AM on July 14, indicating a listing price of ₹254.5 per share at a premium of 18.93% over the upper price band. The IPO, which closed on July 13, received bids for 99,63,24,700 shares against 2,55,86,207 offered, with the QIB portion subscribed 92.25 times and NII category at 43.34 times subscription. Retail investors booked their quota 6.59 times, while refunds for non-allottees will be processed on the same day.
The IPO demonstrated exceptional investor confidence with 41.05 times overall subscription by the final day, with non-institutional investors (NIIs) showing the strongest demand at 43.34 times subscription. The retail portion was subscribed 6.59 times while the QIB portion recorded 92.25 times subscription, representing a significant improvement from the 16% subscription on the first day. This represents a substantial increase from earlier reports, with the issue gaining momentum through the second and third days to achieve full subscription. The IPO comprises ₹742 crore total issue size (₹542 crore fresh issue + ₹200 crore OFS), with one lot consisting of 70 shares requiring a minimum retail investment of ₹14,980 at the upper price band.
Ahead of listing, Laser Power shares are commanding a premium of ₹40.5 per share in the unofficial grey market, indicating potential listing gains above the issue price. Based on the prevailing GMP and the upper price band, the estimated listing price works out to around ₹254.5 per share, implying a premium of nearly 18.93% over the issue price. The grey market premium reflects the difference between an IPO's issue price and its expected listing price in the unofficial market, though investors should note that GMP is only an early indicator and should not be considered the sole basis for an investment decision. The IPO, which opened on July 9 and closes today (July 13), is expected to list on BSE and NSE on July 16. IPO allotment status is expected to be finalised on Tuesday, July 14, with shares hitting the secondary market on Thursday, July 16.
The IPO demonstrated robust institutional confidence with ₹222.59 crore raised from 19 institutional investors at an anchor price of ₹214 per share, including a share premium of ₹209. The anchor book comprises 1.04 crore equity shares, with the company allotting shares to anchor investors at ₹214 per share, the upper end of the IPO price band, aggregating to ₹222.59 crore. The anchor book saw participation from several domestic and global investors, including 3P India Equity Fund, Nippon India Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Bank of India Mutual Fund, Kotak Mahindra Life Insurance, Edelweiss Life Insurance and Societe Generale. Domestic mutual funds received the largest share with 76,63,390 shares (73.67%) allocated to 8 funds across 12 schemes, including Nippon India Mutual Fund, HDFC Manufacturing Fund, Kotak Mutual Fund, Mirae Asset, Motilal Oswal, Bandhan Small Cap Fund, Edelweiss Recently Listed IPO Fund, and Bank of India Mid Cap Fund. Life insurance companies Kotak Mahindra Life Insurance and Edelweiss Life Insurance together received 6.74% of the anchor allocation, while foreign participants include Societe Generale – ODI and Sageone Flagship Growth OE Fund.
For the fiscal year ending March 2026, Laser Power & Infra reported a 9.48% year-on-year decline in revenue to ₹2,326.10 crore, though the company demonstrated strong operational improvements. However, profit after tax surged by 41.99% to ₹151.59 crore, driven by improved operating performance. EBITDA rose by 20.4% to ₹301.4 crore, with EBITDA margin expanding to 12.96% from 9.74% in the previous year. According to Moneycontrol, the company's manufacturing business contributed 73% of FY26 revenue, while EPC accounted for the remaining 27%. As of June 17, 2026, the company had total outstanding debt of ₹935.67 crore. IIFL Capital Services Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue. The company will use proceeds from the IPO to clear debt and for general corporate purposes.
Laser Power operates three manufacturing facilities in West Bengal with an installed capacity of 85,448 MT (FY26) and has established a strong presence in East India. The company is led by promoter Deepak Goel with 37+ years of industry experience and CEO Devesh Goel. As reported by The Economic Times, the company has built long-standing relationships with state utilities and government agencies, positioning itself as a key player in India's power transmission infrastructure. The company operates under the 'LASER' brand manufacturing power and control cables, conductors, and related products, along with an EPC business focused on substations, power distribution infrastructure, and rural electrification projects. The company sells across eastern India, anchored by three West Bengal manufacturing units near the Kolkata and Haldia ports, with customers including state DISCOMs such as TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, TP Northern Odisha Distribution Limited, and TP Southern Odisha Distribution Limited, alongside Indian Railways. Under the OFS route, promoters Deepak Goel, Devesh Goel and Rakhi Goel will offload shares worth up to ₹112.5 crore, ₹62.5 crore and ₹25 crore, respectively, with proceeds utilized for debt reduction. As of March 31, 2026, the company's order book stood at ₹3,243.4 crore, spanning both manufacturing and EPC businesses, with the order backlog equivalent to around 1.4 times FY26 revenue.
Master Capital has noted that investors may consider the IPO as a potential long-term investment opportunity, highlighting the company's position as a leading manufacturer of power cables and conductors in East India. However, risks flagged in the IPO note include high customer concentration, dependence on power cables and conductors for a significant share of revenue, exposure to raw material price volatility, and reliance on a limited supplier base. The company's order book rose 49.3% over FY24-FY26, with the order backlog equivalent to around 1.4 times FY26 revenue, supporting future growth. The company has built a wide execution network spanning 26 states, four Union Territories, and 10 international markets, serving diverse customers including Indian Railways, various state DISCOMs, and government-owned electricity companies. Multiple brokerages including BP Equities, Swastika Investmart, SBICAP Securities, and Choice Equity Broking have issued 'Subscribe' ratings, with DRChoksey assigning a 'Subscribe' rating citing the company's integrated capabilities, expanding order book, and improving margins.
