Laser Power & Infra share price extended gains after making a strong debut in the Indian stock market today. Laser Power & Infra IPO listing date was 16 July, and the shares are listed on BSE and NSE.
Laser Power and Infra shares were listed at ₹269 apiece on the BSE, a premium of 25.70% to the issue price of ₹214 per share. On NSE, Laser Power shares got listed with a premium of 16.8% at ₹250 apiece.
After the strong listing, Laser Power and Infra shares rallied as much as 8% to a high of ₹270 apiece on the NSE.
Laser Power and Infra IPO listing was in-line with the Street estimates as indicated by the grey market premium (GMP). Ahead of the share debut, Laser Power and Infra IPO GMP stood at ₹40 per share, which indicated a listing price of ₹254 — a premium of 18.7% to offer price.
Should you buy, sell or hold Laser Power and Infra shares after listing?
Laser Power & Infra Ltd is an integrated manufacturer of power cables, conductors and specialised products for India’s power transmission and distribution sector with more than three decades of operational experience.
“Short-term traders can keep an eye on market sentiment and listing momentum. Future price movement, however, is probably going to rely more on company performance than listing optimism. Long-term investors may keep following the company if they want to be exposed to India’s growing infrastructure and electricity transmission spending,” said Ravi Singh, Chief Research Officer from Master Capital Services Ltd.
Laser Power & Infra is a registered supplier for Indian Railways and an accredited vendor for Research Design & Standard Organization (RDSO). It has three manufacturing units in West Bengal with total installed capacity of 85,448 MT.
“The Indian wires and cables market grew from ₹787 billion in FY20 to ₹1,408 billion in FY25, at a CAGR of 12.3%, and is expected to reach ₹2,350-2,550 billion by FY30 at a CAGR of 11-13% CAGR in FY25-FY30 supported by infrastructure development, construction activity, digital connectivity, railway electrification, smart grid investments and rising export demand,” said Singh.
Laser Power & Infra IPO was open for subscription from July 9 to July 13, and was subscribed 38.94 times in total. The IPO price band was set at ₹203 to ₹214, and the company raised ₹742 crore from the book-building issue.
The mainboard issue comprised of a combination of fresh issue of 2.53 crore equity shares worth ₹542 crore, and offer for sale of 93.45 lakh equity shares aggregating to ₹200 crore.
IIFL Capital Services Ltd. was the book running lead manager and MUFG Intime India Pvt. Ltd. was the Laser Power registrar.
At 1:50 PM, Laser Power shares were trading at ₹263.08 apiece on the NSE, up 22.93% from its issue price, and up 5.23% from its listing price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
