Stellar Debut! Laser Power and Infra share price lists at ₹250, a premium of 16.8% over IPO price

Laser Power and Infra made a strong market debut on July 16, listing at around ₹250 on the NSE, a premium of 16.8% over its issue price of ₹214, and at ₹269 on the BSE, up 25.7%. The ₹742 crore IPO, comprising a fresh issue of ₹542 crore and an OFS of ₹200 crore by promoters, was subscribed 28.97 times, with strong interest across QIBs (39.49x), NIIs (45.54x), and retail (6.84x) categories. The company, a manufacturer of power cables and conductors, plans to use about ₹490 crore of fresh issue proceeds to prepay or repay borrowings.