Laser Power & Infra IPO: Check allotment status, odds of getting shares, fresh GMP & more

Laser Power & Infra is likely to finalize the basis of allotment of its shares on Tuesday, July 14. Applicant bidders will get the messages, alerts or emails for debit of their funds by Wednesday, July 15. The power cables and conductor solutions provider muted response from the investors during the three-day bidding process.

The IPO of Laser Power & Infra was open for bidding between July 09-13. It had offered its shares in the price band of Rs 203-214 per share with a lot size of 70 shares. The company eyed to raise a total of Rs 742 crore via IPO, which included a fresh share sale of Rs 542 crore and an offer-for-sale (OFS) of up to 93,45,793 shares worth Rs 200 crore.

The issue was overall subscribed only 38.94 per cent with more than 11.53 lakh applications, fetching bids for Rs 21,300 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 92.25 times. The quotas for non-institutional investors (NIIs) were booked at 43.34 times The retail portion was booked 6.59 times during the three-day bidding.  

Based on the bidding, here are the odds of allotment for IPO of Laser Power & Infra:

• Big HNI category: 1 investor out of 10 investors will get 910 shares (Probability: 10 per cent)
• Small HNI category: 1 investor out of 35 investors will get 910 shares (Probability: 2.86 per cent)
• Retail category: 1 investor out of 6 investors will get 70 shares. (Probability: 16.67 per cent)

The grey market premium (GMP) of Laser Power & Infra has remained stable after strong bidding despited jittered market sentiments. Last heard, it was commanding a discount of Rs 39-41 per share, suggesting a listing pop of 18-19 per cent for the investors. It was commanding GMP of Rs 24-25 when the issue opened for subscription.

Incorporated in 1988, Kolkata-based Laser Power & Infra is an integrated manufacturer of power cables, conductors and other specialised products and components to the power transmission and distribution industry in India. It strategically expanded their business by entering the EPC segment in the power distribution sector.

IIFL Capital Services and ICICI Securities are the book running lead managers of Laser Infra & Power IPO and MUFG Intime India is the registrar of the issue. Credit of shares and/or initiation of refund shall be done on Wednesday, July 15. Shares of the company shall be listed on both BSE and NSE on Thursday, July 16.

Investors, who had bid for the issue of Laser Power & Infra, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Laser Power & Infra Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘LASERPOWER’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

• Go to the web portal of MUFG Intime India Limited
• Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.