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Laser Power & Infra Ltd has fixed the price band for its INR 742 crore initial public offering at INR 203–214 per share, with the issue opening on July 9 and closing on July 13. The IPO comprises a fresh issue of INR 542 crore and an offer for sale of INR 200 crore. The proceeds will primarily be used to reduce debt, strengthen the company's balance sheet and support future capital expenditure. The fundraising will also help finance business expansion as the company scales its operations across India's power transmission, distribution and infrastructure sectors amid growing investment in utility and energy infrastructure.
Laser Power & Infra Ltd has announced the price band for its INR 742 crore initial public offering (IPO), with the public issue scheduled to open on July 9 and close on July 13. The company, which operates in the power transmission and distribution infrastructure sector, has fixed the price band at INR 203 to INR 214 per equity share as it seeks to raise capital to support its financial position and future infrastructure projects.
The IPO comprises a fresh issue of equity shares worth INR 542 crore and an offer for sale (OFS) of INR 200 crore by existing shareholders. The anchor investor portion will open a day before the public issue, while the shares are proposed to be listed on both the BSE and the NSE following the completion of the offering.
According to the company, the net proceeds from the fresh issue will primarily be utilised for the repayment or prepayment of outstanding borrowings. The remaining funds will be used for general corporate purposes. By lowering its debt burden, the company aims to strengthen its balance sheet and improve financial flexibility for executing future engineering and infrastructure projects.
Laser Power & Infra operates as an integrated player in the power sector through its manufacturing and engineering, procurement and construction (EPC) businesses. The company manufactures power cables, conductors and transmission-related products while also undertaking EPC contracts for power transmission and distribution networks. Its operations cater to utilities, industrial customers and infrastructure developers across India.
The issue has been structured as a book-built public offering. At the upper end of the price band, retail investors will be required to invest a minimum of INR 14,980 for one lot comprising 70 equity shares. The basis of allotment is expected to be finalised on July 14, with refunds and credit of shares scheduled shortly thereafter. The company is targeting a stock market listing on July 16, subject to regulatory approvals and completion of the allotment process.
The IPO comes at a time when investment in India's power transmission and distribution infrastructure continues to gather pace, driven by rising electricity demand, renewable energy integration and grid modernisation programmes. Companies engaged in manufacturing electrical equipment and executing transmission projects are expected to play an important role in expanding the country's energy infrastructure.
With the proposed capital raising, Laser Power & Infra is seeking to improve its financial position while supporting its participation in infrastructure projects across the power sector. The company has stated that reducing leverage will enhance its ability to pursue future business opportunities and strengthen execution capacity in the transmission and distribution segment.
Source: PTI
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