🔴 LIVE: Laser Power & Infra IPO subscription is open right now — closes July 13, 2026 (Sunday). Allotment July 14. Listing July 16 on NSE & BSE.
India’s power infrastructure boom is creating a new wave of IPO opportunities — and the latest one is right in the middle of it. Laser Power & Infra Limited (LPIL) — a Kolkata-based integrated manufacturer of power cables, conductors, and EPC contractor for India’s power distribution sector — has opened its IPO today with a price band of ₹203–₹214 per share.
The company reported a compound annual growth rate of 15.4% in revenue between FY24 and FY26 and has an order book valued at ₹32,434 million, providing strong future revenue visibility. But there are important risks to evaluate too — read the full analysis before applying.
Laser Power & Infra IPO — Quick Facts
| Detail | Information |
|---|---|
| Company | Laser Power & Infra Limited (LPIL) |
| Founded | 1988 (Incorporated in Kolkata) |
| Business | Power cables, conductors, EPC for power T&D |
| IPO Open Date | July 9, 2026 (TODAY) |
| IPO Close Date | July 13, 2026 (Sunday) |
| Price Band | ₹203 – ₹214 per share ✅ Official |
| Face Value | ₹5 per share |
| Issue Size | ₹742 crore |
| Fresh Issue | ₹542 crore |
| Offer for Sale (OFS) | ₹200 crore |
| Lot Size | 70 shares |
| Min Investment (Retail) | ₹14,980 (70 shares at ₹214) |
| sNII Minimum | 14 lots (980 shares) = ₹2,09,720 |
| bNII Minimum | 67 lots (4,690 shares) = ₹10,03,660 |
| GMP (July 9, 2026) | ₹22 (~10.28% premium) — unofficial |
| Est. Listing Price (GMP) | ~₹236 per share — unofficial |
| Allotment Date | July 14, 2026 |
| Demat Credit / Refund | July 15, 2026 |
| Listing Date | July 16, 2026 (NSE & BSE) |
| Quota Split | QIB 50% | HNI 15% | Retail 35% |
| Anchor Investors | ₹222.60 crore raised July 8 — 19 institutions |
| Lead Managers | IIFL Capital Services, ICICI Securities |
| Registrar | MUFG Intime India Pvt. Ltd. |
| P/E Ratio | 19.82x (post-issue) |
| Market Cap (at upper band) | ₹3,003.88 crore |
What Does Laser Power & Infra Do?
Laser Power & Infra is an integrated manufacturer of power cables, conductors, and other specialised products and components used in power transmission and distribution. The company also operates in the engineering, procurement, and construction (EPC) segment of the power distribution sector, focusing on rural electrification projects, power distribution infrastructure, and substations.
In simpler terms — whenever a new village gets electricity, a new substation is built, or power lines are extended across India’s growing grid, companies like LPIL supply the cables, conductors, and build the infrastructure that makes it happen.
Key business highlights:
- Operates three manufacturing units in West Bengal with a combined installed capacity of 85.448 MT and serves customers across 26 states, four Union Territories, and 10 countries
- Leading position in the North-East India power cables and conductors segment
- Order book of ₹3,243 crore providing strong revenue visibility for the next 2–3 years
- Revenue CAGR of 15.4% between FY24 and FY26 — above industry average
- Also has international technical collaborations for specialised cable manufacturing
Two business segments:
- Manufacturing — Power cables, conductors, specialised components for T&D industry
- EPC Projects — Engineering, procurement, and construction for power distribution, rural electrification, substations
IPO Structure: Fresh Issue + OFS
Unlike Kusumgar (100% OFS) or Jio IPO (100% fresh issue), this IPO is a combination:
| Component | Amount | Meaning |
|---|---|---|
| Fresh Issue | ₹542 crore | Goes directly to Laser Power & Infra for growth |
| Offer for Sale | ₹200 crore | Goes to promoter selling shareholders |
How the fresh issue proceeds will be used:
- Expansion of manufacturing capacity
- Capital expenditure for new plant and equipment
- Working capital requirements
- General corporate purposes
This is a better structure than a pure OFS — the company itself gets ₹542 crore for real business expansion, not just promoter exit money.
Laser Power & Infra Financials: The Most Important Section
The company’s total income decreased by over 9% to ₹2,347.89 crore in FY26 compared to ₹2,592.53 crore in FY25. However, the company posted profit growth of 42%, as its consolidated profit after tax grew to ₹151.59 crore compared to ₹106.75 crore in the preceding fiscal. The net worth of the company also increased from ₹574.58 crore in FY25 to ₹725.41 crore in FY26.
| Metric | FY25 | FY26 | Change |
|---|---|---|---|
| Revenue | ₹2,592.53 crore | ₹2,347.89 crore | -9.4% YoY |
| Profit After Tax | ₹106.75 crore | ₹151.59 crore | +42% YoY |
| Net Worth | ₹574.58 crore | ₹725.41 crore | +26.3% YoY |
| EPS | — | ₹10.80 | — |
| RoNW | — | 20.90% | — |
| Revenue CAGR (FY24–26) | — | +15.4% | — |
The key insight here: Revenue fell but profit jumped 42% — this means the company dramatically improved its margins in FY26. This is actually a healthy sign — it means LPIL cut inefficiencies, improved product mix, or reduced raw material costs even as overall revenue dipped due to project timing.
Valuation: At ₹214 upper band, the stock trades at a P/E of 19.82x — which is relatively modest compared to listed peers in the power sector. This makes the valuation more reasonable than many recent IPOs.
Anchor Investor Allotment — Very Strong Signal
Laser Power & Infra finalised its anchor investor allocation on July 8, 2026, raising ₹222.60 crore from 19 institutional investors at an anchor price of ₹214 per share. The anchor book comprises 1,04,01,867 equity shares, reflecting strong and broad institutional participation across domestic mutual funds, life insurance companies, and foreign portfolio investors. Domestic mutual funds received the largest share of the anchor allocation with 76,63,390 shares (73.67%) allocated to 8 funds across 12 schemes. Key domestic MF participants include Nippon India Mutual Fund, HDFC Manufacturing Fund, Kotak Mutual Fund, Mirae Asset, Motilal Oswal, Bandhan Small Cap Fund, Edelweiss Recently Listed IPO Fund, and Bank of India Mid Cap Fund.
Why this matters: When marquee names like Nippon India, HDFC, Kotak, and Mirae Asset participate in anchor allotment, it sends a strong quality signal. These are professional institutional investors who have done deep due diligence — their participation reduces the risk of a weak listing.
GMP Today: ₹22 (~10.28%) — July 9, 2026
The Grey Market Premium for Laser Power & Infra is currently around ₹22 (10.28%), indicating an estimated listing price of approximately ₹236 based on latest market sentiment.
GMP has been volatile — ranging from ₹10 to ₹40 since it started tracking. The current ₹22 level represents a moderate positive signal.
GMP Disclaimer: GMP is unofficial, unregulated, and not governed by SEBI. It changes daily and should never be the sole basis for investment decisions. Always combine GMP with subscription data and fundamentals before deciding.
Key Strengths
1. Strong order book of ₹3,243 crore The company has an order book valued at ₹32,434 million, which it identifies as a pillar for future revenue visibility. This provides roughly 1.4 years of revenue cover — reducing execution risk.
2. India’s power sector tailwind is massive India’s power ministry has set ambitious targets — 500 GW of renewable energy by 2030, universal rural electrification, and ongoing grid modernisation. All of this requires cables, conductors, and EPC services — exactly what LPIL makes and does.
3. Reasonable valuation at 19.82x P/E Unlike many overpriced IPOs, LPIL’s post-issue P/E of 19.82x is modest for a power sector company. Listed peers like KEC International, Polycab, and KEI Industries trade at significantly higher multiples — suggesting room for valuation re-rating post-listing.
4. Strong anchor investor participation 19 institutional investors including top mutual funds validates the business quality at the IPO price.
5. Profit grew 42% even as revenue fell Sharp margin improvement in FY26 shows management discipline and operational efficiency — not just top-line growth dependence.
6. Original issue size was ₹1,200 crore — reduced to ₹742 crore The company earlier reduced the size of its public issue from an initially planned ₹1,200 crore to ₹742 crore. This is actually positive for investors — a smaller float at the same valuation means less dilution and potentially stronger listing demand.
Key Risks — Read Before Applying
1. Revenue declined 9.4% in FY26 Despite the profit jump, total income fell. Investors must understand whether this was due to project timing (temporary) or structural issues (permanent). The RHP risk factors section has more detail.
2. High client concentration The top 10 clients contributed more than 72% of the company’s revenue in FY26, creating a concentration risk where the loss of a major contract could significantly impact earnings. This is the single biggest business risk.
3. Raw material price volatility Copper and aluminium are key raw materials for cable manufacturing. Global commodity price swings directly impact LPIL’s margins — and this risk cannot be fully hedged.
4. EPC project execution risk EPC projects are subject to government tender delays, cost overruns, and policy changes. Rural electrification contracts in particular can be delayed by bureaucratic or weather-related factors.
5. OFS component means some promoter exit ₹200 crore of the ₹742 crore issue is OFS — promoters are cashing out partially. While not alarming (fresh issue dominates), it is worth noting.
6. Kolkata/West Bengal concentration All three manufacturing plants are in West Bengal. Any state-level regulatory, labour, or logistics disruption could impact production.
How to Apply for Laser Power & Infra IPO
The IPO is open right now until July 13, 2026. Apply through:
Broker apps (fastest):
- Zerodha Console → Portfolio → IPOs → Laser Power & Infra → Bid
- Groww, Upstox, Angel One, 5Paisa — all support this IPO
Bank net banking (ASBA):
- SBI, HDFC, ICICI, Axis, Kotak — log in → Investments → IPO → Apply
Payment:
- UPI (retail up to ₹5 lakh) — approve mandate in Google Pay / PhonePe / BHIM
- ASBA — amount blocked in bank account until allotment
Allotment status check (July 14):
- MUFG Intime India (registrar): https://linkintime.co.in/initial_offer/public-issues.html
- BSE: https://www.bseindia.com/investors/appli_check.aspx
- NSE: https://eipo.nseindia.com/allotment/app/
Laser Power & Infra vs Other July 2026 IPOs
| Feature | Laser Power & Infra | Kusumgar | SBI Mutual Fund |
|---|---|---|---|
| Open | Jul 9–13 | Jul 8–10 | Jul 14–16 |
| Issue size | ₹742 crore | ₹650 crore | ~₹13,000 crore |
| Price band | ₹203–₹214 | ₹398–₹419 | TBA |
| Min investment | ₹14,980 | ₹14,665 | TBA |
| Issue type | Fresh + OFS | 100% OFS | 100% OFS |
| GMP | ₹22 (~10%) | ₹130 (~31%) | ₹91 |
| Listing | Jul 16 | Jul 15 | Jul 21 |
| P/E | 19.82x | Higher | Higher |
| FY26 revenue | -9.4% | -10% | +14.6% |
| FY26 profit | +42% | -12% | +15.1% |
| Sector | Power infra | Defence fabrics | Asset management |
Key difference: Laser Power’s profit grew 42% while revenue dipped — a much stronger fundamental story than Kusumgar where both revenue and profit fell. The lower P/E also makes it more attractively priced.
Frequently Asked Questions (FAQ)
Q1. When does Laser Power & Infra IPO close? The IPO closes on July 13, 2026 (Sunday). The subscription is currently open — apply before the deadline.
Q2. What is the Laser Power & Infra IPO price band? The officially announced price band is ₹203 to ₹214 per share. Always apply at the upper band (₹214) or select cut-off price to ensure your application is valid.
Q3. What is Laser Power & Infra IPO GMP today? As of July 9, 2026, the GMP is approximately ₹22 per share (~10.28%), implying an estimated listing price of around ₹236. GMP fluctuated between ₹10 and ₹40 in the days before opening — it is unofficial and subject to change.
Q4. When is Laser Power & Infra IPO allotment? Allotment is scheduled for July 14, 2026. Check status on MUFG Intime India’s website using your PAN number.
Q5. When does Laser Power & Infra list on NSE & BSE? Shares are expected to list on both NSE and BSE on July 16, 2026. Shares will be credited to your Demat account on July 15.
Q6. What is the minimum investment in Laser Power & Infra IPO? Minimum retail investment is ₹14,980 (1 lot of 70 shares at the upper price band of ₹214).
Q7. Is Laser Power & Infra IPO a good investment? At 19.82x P/E with a strong 42% profit growth in FY26 and a ₹3,243 crore order book, the fundamentals are reasonable. However, the 9.4% revenue decline and high client concentration (top 10 clients = 72% revenue) are key risks. Long-term investors in the power infrastructure theme may find it interesting; short-term listing gain seekers should monitor Day 2–3 QIB subscription data.
Q8. Who are the lead managers for Laser Power & Infra IPO? The book-running lead managers are IIFL Capital Services Ltd. and ICICI Securities Ltd. The registrar is MUFG Intime India Pvt. Ltd.
Our Take: Apply or Avoid?
Positives:
- Reasonable valuation — 19.82x P/E vs sector peers at 30–40x
- Strong 42% profit growth in FY26
- Excellent anchor investor participation — 19 institutions, top MFs
- ₹3,243 crore order book = strong visibility
- Power sector is one of India’s most active infra themes for 2026–30
- IPO size reduced from ₹1,200 crore to ₹742 crore — less dilution
Concerns:
- Revenue fell 9.4% in FY26 — need clarity on reason
- 72% revenue from top 10 clients = high concentration risk
- GMP of 10% is moderate — not as exciting as Kusumgar’s 31%
- All plants in West Bengal — geographic concentration
Verdict: This is a fundamentally reasonable IPO at a fair valuation in a high-growth sector — better priced than many recent issues. The 42% profit growth despite revenue dip shows margin improvement. Suitable for long-term investors (1–3 years) betting on India’s power infrastructure buildout. For short-term listing gains, the 10% GMP is modest — watch QIB subscription on Day 3 before deciding.
Stay Updated — Live Updates Below
We are updating this post in real time:
- 🔴 July 9 (Day 1): IPO opened. GMP: ₹22 (~10%). Anchor: ₹222.60 crore from 19 institutions ✅
- ⏳ July 10 (Day 2): Subscription update — coming tonight
- ⏳ July 13 (Day 3): Final subscription numbers — coming Sunday
- ⏳ July 14: Allotment status link
- ⏳ July 15: Demat credit confirmed
- ⏳ July 16: Listing price and gain/loss
Bookmark this page and check back daily.
👉 Also read: Complete IPO Calendar July 2026 👉 How to check your IPO allotment status
Sources: Laser Power & Infra RHP, IIFL Capital, IPOJi, IPOWatch, Chittorgarh, Whalesbook, Outlook Money, Grey Market IPO, as of July 9, 2026.
Disclaimer: This article is for informational purposes only and not investment advice. IPO investments carry market risk. GMP figures are unofficial. Please consult a SEBI-registered financial advisor before investing.