The initial public offering (IPO) for Laser Power & Infra Ltd, an integrated power infrastructure firm, opened for public subscription on Thursday, July 9, 2026. The issue, valued at Rs 742 crore, comprises a fresh issue of Rs 542 crore and an offer for sale (OFS) of Rs 200 crore. Shares are being offered in a price band of Rs 203–214 per share.
Strong Analyst Consensus for Subscription
Market analysts have largely issued 'Subscribe' ratings for the Laser Power IPO, citing the company's attractive valuations compared to its peers and robust growth potential. DR Choksey Research noted that at the upper price band, the company is valued at 19.8 times FY26 EPS and 12.6 times EV/Ebitda, representing a significant discount to the listed peer average of approximately 36 times EPS and 24 times EV/Ebitda. This valuation is considered reasonable given an improving business mix and a favorable industry outlook.
Brokerages like Swastika Investmart, SBI Securities, and Choice Broking echoed these sentiments, highlighting the IPO's lower valuations compared to competitors such as Apar Industries and KEI Industries. They also pointed to Laser Power & Infra's strong fundamentals and strategic positioning.
Key Strengths and Future Prospects
Laser Power & Infra's healthy order book of Rs 3,243 crore provides significant revenue visibility for the next 12–18 months. The company, which operates across manufacturing and EPC segments, is a strategically located cable and conductor manufacturer in East India, catering primarily to the power transmission sector. Its partnerships with leading global players further enhance its competitive edge.
A substantial portion of the fresh issue proceeds is earmarked for debt reduction, which is expected to lower interest costs, strengthen the balance sheet, and boost profitability. Analysts believe this deleveraging, combined with a diversified product portfolio, expanding EPC presence, and long-term industry tailwinds driven by rising investments in India's power transmission and distribution infrastructure, positions Laser Power & Infra well for sustained growth.
Grey Market Premium Hints at Listing Gains
In the grey market, the premium (GMP) for Laser Power shares has been steady at Rs 15 apiece. This suggests a potential listing gain of approximately 7 percent for investors, indicating positive market sentiment towards the offering. Between FY24 and FY26, the company demonstrated impressive financial performance, delivering revenue growth of 15.4 percent, Ebitda growth of 39 percent, and adjusted profit growth of 72.5 percent.