The Laser Power & Infra IPO received 100% subscription on Day 3 as of 17:00 IST on July 10, 2026, with 2.55 crore shares bid against 2.56 crore shares on offer. The retail investor portion showed stronger participation, subscribing 31% against the offered 1.27 crore shares, while the non-institutional investor (NII) category led demand with 34% subscription against 54.82 lakh shares. The qualified institutional buyers (QIB) portion remains yet to open for bidding. The IPO opened for subscription on July 9, 2026, and will remain open until Monday, July 13, 2026, with a price band of ₹203 to ₹214 per equity share. The company has set the lot size at 70 equity shares and in multiples thereafter. According to Business Standard, the IPO has attracted strong anchor investor interest, with ₹222.59 crore raised from anchor investors including 19 anchor investors who were allotted 1.04 crore shares at ₹214 each on July 9, 2026. The grey market premium (GMP) stands at ₹24 per share, indicating the stock could list with an estimated listing price of approximately ₹238 per share, implying a premium of nearly 11.21%. The basis of allotment is expected to be finalized on July 14, 2026, with shares credited to demat accounts on July 15, 2026 and listing scheduled for July 16, 2026 on BSE and NSE.
The IPO comprises a fresh issue of shares worth ₹542 crore and an offer for sale (OFS) of shares worth ₹200 crore by the Goel family. Under the OFS, Deepak Goel will sell shares worth ₹112.5 crore, Rakhi Goel will sell shares worth ₹25 crore, and Devesh Goel will sell shares worth ₹62.5 crore. The company plans to utilize ₹490 crore from fresh issue proceeds to repay outstanding borrowings, with the balance earmarked for general corporate purposes. The total outstanding debt stood at ₹935.67 crore as of June 17, 2026. The issue has reserved not more than 50% for qualified institutional buyers, not less than 15% for non-institutional institutional investors, and not less than 35% for retail investors. Bids can be made for a minimum of 70 equity shares, with the minimum investment amount for a retail investor being ₹14,980 and maximum investment of ₹1,94,740.
For FY26, Laser Power & Infra reported a 42% year-on-year rise in net profit to ₹151.59 crore, despite a 9.5% decline in revenue to ₹2,326.10 crore. According to Business Standard, revenue rose 15% annually to ₹2,326.10 crore in FY26 from ₹1,748 crore in FY24. The earnings growth was driven by improved operating efficiency, with EBITDA increasing 20.4% to ₹301.4 crore and the EBITDA margin expanding to 12.96% from 9.74% in the previous year. The company's return on equity more than doubled to 23.3% in FY26 from 10.4% in FY24 against a peer range of 15%-25%. However, the net debt-equity ratio rose to 1.1 in FY26 from 0.6 in FY24.
Laser Power & Infra operates in two business segments—manufacturing and engineering, procurement and construction (EPC). The company manufactures power cables, conductors, aluminium wire rods, aerial bunched cables and other products used in the power transmission and distribution sector. As reported by Business Standard, the company is a licensed stranding partner of US-based TS Conductor, enabling it to manufacture advanced high-capacity transmission conductors in India. The company has three manufacturing facilities in West Bengal—two at Dhulagarh and one at Kharagpur—with a combined installed capacity of 85,448 metric tonnes as of March 31, 2026, up nearly 38% from FY24. The company's order book stood at ₹3,243.4 crore as of March 31, 2026, with ₹1,669 crore contributed by its manufacturing business and ₹1,575 crore by the EPC business. According to Crisil Intelligence, the wires and cables market is expected to grow 11-13% annually to reach around ₹2.6 lakh crore by FY30 from ₹1.4 lakh crore in FY25. Manufacturing contributed 73% of FY26 revenue, while the EPC business accounted for the remaining 27%.
IIFL Capital Services Ltd. and ICICI Securities have been appointed as the book-running lead managers for the issue, with MUFG Intime India Pvt. Ltd. serving as the registrar. According to Business Standard, the Securities and Exchange Board of India (SEBI) granted its approval to the IPO in February 2026. The IPO size is ₹742 crore, lower than the ₹1,200 crore proposed in the draft red herring prospectus filed in September 2025. The company supplies products to Indian Railways, Tata Power-managed Odisha power distribution companies, including TP Central Odisha Distribution Ltd, TP Western Odisha Distribution Ltd, TP Northern Odisha Distribution Ltd and TP Southern Odisha Distribution Ltd, besides private EPC players such as Montecarlo Ltd and KRYFS Power Components Ltd. The promoter stake will fall to 75.3% after the IPO from 100%, reflecting the significant dilution through the OFS component. The basis of allotment is expected to be finalized on Tuesday, July 14, 2026, with refunds beginning on Wednesday, July 15, 2026 and shares credited to demat accounts on the same day. The shares are scheduled to be listed on BSE and NSE on Thursday, July 16, 2026.
