Laser Power & Infra IPO: Issue receives tepid response on Day 01, subscribed 0.17x; GMP signals healthy listing

Laser Power & Infra's ₹742 crore IPO received a muted response on Day 1, subscribed 0.17 times with bids for 41.78 lakh shares against 2.42 crore on offer. Retail and NII portions were subscribed 0.26 times and 0.20 times respectively, while QIB bidding is yet to open. Despite the slow start, grey market premium of ₹18 per share indicates an estimated listing price of around ₹227, implying about 8.4 percent premium over the upper price band of ₹214.