IPO GMPs: Kusumgar IPO vs Laser Power IPO; here's what GMP hints

Kusumgar IPO trades at a grey market premium of around +155, indicating an estimated listing price of about ₹574, about 37% above the upper price band of ₹419, with robust investor interest on day two of bidding. Laser Power IPO, however, saw a sluggish opening and currently commands a GMP of +12.5, suggesting a modest listing gain of about 5.84% over the upper band price of ₹214. Laser Power is raising ₹742 crore (₹542 crore fresh + ₹200 crore OFS) for debt reduction, while the Kusumgar IPO is a 100% OFS worth about ₹410 crore with no fresh capital infusion.