This power cable, conductor manufacturer seeks ₹1,200cr via IPO
What's the story
West Bengal-based power cable and conductor manufacturer, Laser Power & Infra, has filed draft papers with the capital markets regulator for an initial public offering (IPO) to raise ₹1,200 crore. The company plans to issue fresh shares worth ₹800 crore while promoters will offload shares worth ₹400 crore through an offer-for-sale. The funds from the fresh issue will be used primarily for debt repayment and general corporate purposes.
Debt reduction
Fresh issue proceeds to go toward debt repayment
Laser Power & Infra plans to use ₹600 crore from the fresh issue proceeds to repay certain borrowings. This will lead to a significant reduction in its total outstanding borrowings, which stood at ₹702.6 crore as of September 12. The remaining funds from the fresh issue will be used for general corporate purposes, further strengthening the company's financial position post-IPO.
Company profile
Strong financial performance in recent years
Laser Power & Infra operates three manufacturing units in West Bengal with a combined capacity of 73,100MT. The company has shown strong financial performance in recent years. Its profit for the year ending March 2025 surged by an impressive 164.2% to ₹106.8 crore from ₹40.4 crore in the previous year. Revenue during this period also increased by a healthy 47% to ₹2,570.4 crore from ₹1,747.6 crore last year.
Market standing
Competes with several listed peers
Laser Power & Infra competes with several listed peers such as Polycab India, KEI Industries, Dynamic Cables, as well as Universal Cables. As of August 2025, the company had an order book of ₹1,044.8 crore in the manufacturing segment and ₹1,968.8 crore in the EPS business. The book running lead managers for managing this IPO are IIFL Capital Services and ICICI Securities.