Laser Power & Infra Ltd IPO seeks 742cr, 17% subscribed
Laser Power & Infra Ltd. kicked off its IPO on July 9, aiming to raise ₹742 crore, but the response has been pretty mild so far; only 17% of shares were subscribed on day one.
Most of the action came from regular retail investors, while big institutional players haven't joined in yet.
Laser Power raises 222cr pre-IPO
The IPO offers shares priced between ₹203 and ₹214 and includes both new shares and an offer for sale.
Before launch, Laser Power raised ₹222 crore from major funds like Nippon India and HDFC Mutual Fund.
Shares are set to list on BSE and NSE on July 16, with a possible listing price about 8% above the top end of the price range.
The company manufactures power cables, conductors, and T&D equipment, and executes EPC projects for rural electrification, power distribution infrastructure, and substations.