Laser Power and Infra IPO oversubscribed 38.49 times, anchors ₹223cr
Business
Laser Power and Infra's IPO just wrapped up with a massive 38.49 times oversubscription, meaning way more people wanted in than there were shares available.
Big institutional investors led the charge, bidding for over 92 times their share, while retail investors also showed solid interest at nearly six times.
The company had already raised ₹223 crore from anchor investors like Nippon India Mutual Fund at the top price of ₹214 per share.
Company uses ₹490cr to repay debt
Most of the money raised (₹490 crore) will go toward paying off company debt, with the rest set aside for general business needs.
At the upper end of the price band, Laser Power and Infra is valued at around ₹3,000 crore.