Laser Power and Infra files draft papers with Sebi for ₹1,200 cr IPO

Laser Power and Infra Ltd, a cable and conductor manufacturer, has filed preliminary papers with markets regulator Sebi to raise Rs 1,200 crore through an initial public offering (IPO).

With this, the Kolkata-based company is targeting a valuation of Rs 5,500-6,500 crore, people familiar with the matter said.

The proposed IPO is a combination of a fresh issue of equity shares worth Rs 800 crore and an offer for sale (OFS) of equity shares valued at Rs 400 crore by promoters, according to the draft red herring prospectus (DRHP) filed on Saturday.

As part of the OFS, Deepak Goel, Rakhi Goel, and Devesh Goel will offer offload shares aggregating up to Rs 225 crore, Rs 50 crore and Rs 125 crore, respectively.

Laser Power and Infra Ltd (LPIL) plans to use the fresh issue proceeds to repay loans of up to Rs 600 crore, and a portion would be earmarked for general corporate purposes.

The company may consider a Pre-IPO Placement of equity shares aggregating up to Rs 160 crore. If such placement is completed, the amount raised will be reduced from the fresh issue accordingly.

LPIL is an integrated manufacturer of power cables, conductors and specialised products and components to the power transmission and distribution industry.

Incorporated in 1988, LPIL operates in two segments -- manufacturing and EPC. Its clients include Indian Railways, several distribution companies such as TP Central, TP Western, TP Northern, and TP Southern Odisha Distribution Ltd, and private EPC firms like Montecarlo Ltd and KRYFS Power Components Ltd.

As of March 31, 2025, the company runs three manufacturing units in West Bengal with a total installed capacity of 73,100 MT. Its two units are in Dhulagarh, and the third is in Kharagpur.

LPIL reported Rs 2,570 crore in revenues from operations in FY25, and profit after tax stood at Rs 106 crore.

On listing, LPIL will join established peers in the sector, such as Polycab India, KEI Industries, APAR Industries, R R Kabel, Finolex Cables, and Universal Cables, which have drawn strong investor attention amid India's infrastructure and manufacturing push.

According to industry estimates, the Indian market was valued at USD 9.32 billion in 2024 and is projected to grow from USD 10.01 billion in 2025 to USD 17.08 billion by 2032.

To manage the public offering, IIFL Capital Services and ICICI Securities have been appointed as book-running lead managers (BRLMs) to the offer.