Laser Power & Infra Ltd, an integrated manufacturer of power cables and conductors, saw a weak response on the first day of its initial public offering (IPO), which opened on July 9. By the end of Day 1, the IPO was subscribed only 0.17 times, indicating limited investor interest. The company raised ₹222 crore from anchor investors ahead of the public subscription, according to livemint.com.
The IPO subscription period is scheduled to close on July 13, with final allotment expected on July 14 and shares slated to list on July 16. Despite the muted response from retail and institutional investors on the first day, the grey market premium (GMP) signals a healthy listing, suggesting some market optimism about the stock’s debut. The company’s pricing and market conditions will be closely watched during the remaining subscription days.
This IPO comes at a time when the Indian capital markets have seen mixed responses to new listings, with some sectors attracting strong demand while others face subdued interest. Laser Power & Infra’s performance will be compared to recent IPOs in the power and infrastructure segments, which have varied in subscription levels. The ₹222 crore raised from anchor investors provides some confidence, but the low initial subscription highlights challenges in attracting broad investor participation.
The final allotment date is July 14, with the shares expected to list on the National Stock Exchange and Bombay Stock Exchange on July 16. Market participants will assess the listing day performance to gauge investor sentiment and the company’s market positioning in the power cable manufacturing sector.