Laser Power & Infra IPO nearly 39x oversubscribed raises ₹742cr
Business
Laser Power & Infra just had a strong debut on the stock market, with its IPO raising ₹742 crore and getting oversubscribed nearly 39 times, pretty impressive demand.
Shares opened way above expectations at ₹250 on NSE and ₹269 on BSE, beating the IPO price of ₹214 per share by a good margin and largely in line with gray market expectations.
Laser Power & Infra valued ₹3,776cr
After this big debut, the company, known for making power cables and transmission products, now has a market value of about ₹3,776 crore.
The IPO was managed by Axis Capital, ICICI Securities, and SBI Capital Markets.
Investors seem to be betting big on its future growth.