This cable-maker eyes a ₹1,500cr IPO at valuation of ₹6,500cr
What's the story
Kolkata-based Laser Power and Infra Ltd (LPIL), a leading manufacturer of cables and conductors, is preparing to file its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) this month. The company plans to raise between ₹1,200 crore and ₹1,500 crore through an initial public offering (IPO). With this move, LPIL hopes to achieve a valuation between ₹5,500-6,500 crore.
Company evolution
A look at the firm
Founded by Deepak Goel, who has over 30 years of experience in the cables and conductors business, LPIL started as a small engineering unit. It has since grown into a major player in the EPC segment and now manufactures and markets a wide range of wires, cables, conductors, and specialized transmission products for domestic as well as export markets. The company is also involved in large-scale electrification projects.
Project achievements
Major projects executed by LPIL
Over the years, LPIL has executed projects such as electrifying over 12,000 villages, commissioning 22,000 distribution transformers, upgrading 99 substations, and laying over 50,000 circuit kilometers of overhead lines. The company caters to several state and central power distribution companies as well as private sector clients. Its clientele includes PGCIL and NTPC among others.
Business expansion
Financial performance and order book
LPIL is also venturing into new areas such as water distribution infrastructure. The company has over 25 ongoing projects with a consolidated order book of over ₹3,500 crore. In FY24, LPIL reported ₹1,621.23 crore in revenue from operations, a 31.4% increase from ₹1,233.91 crore in FY23. This growth has been fueled by the company's backward integration across aluminum rod casting and polymer compounding among other things.