Laser Power & Infra shares made a decent debut at nearly 17 percent premium on the National Stock Exchange (NSE) on Thursday, following a 38.94 times subscription to its initital public offering (IPO) between July 9 - 13 in the primary market.


Shares of the integrated power cables and transmission products manufacturer Laser Power & Infra Ltd were listed at Rs 250 per share on the NSE, a premium of 16.82 percent. The Rs 742-crore issue had a price band of Rs 203-214 per share.

On the BSE, the shares of the Kolkata-headquartered company were listed at Rs 269 per share, a strong premium of 25.7 percent. The company's market capitalisation post listing of shares stood at Rs 3,775.91 crore.

Laser Power & Infra market debut was almost at par with the expectations in the grey market, which had anticipated around 18 percent listing gains.

Earlier, the company raised around Rs 223 crore from anchor investors.

The proceeds from the fresh issue will primarily be used to prepay or repay borrowings worth Rs 490 crore, while the balance amount will be utilised for general corporate purposes.

Laser Power & Infra operates in the manufacturing and engineering, procurement and construction (EPC) segments. It manufactures power cables, conductors, aluminium wire rods, aerial bunched cables and other products used in the power transmission and distribution sector.