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Laser Power & Infra has raised around INR 223 crore from anchor investors ahead of the opening of its INR 742 crore initial public offering (IPO). The anchor round attracted participation from leading domestic mutual funds, insurance companies and global investors. The IPO includes a fresh issue of INR 542 crore and an offer for sale worth INR 200 crore by promoters. The company plans to use most of the fresh issue proceeds to reduce debt. With manufacturing facilities in West Bengal and a strong order book, the company operates across power cable manufacturing and EPC services.
Integrated power cables and transmission products manufacturer Laser Power & Infra Ltd has raised around INR 223 crore from anchor investors ahead of the opening of its INR 742 crore initial public offering (IPO).
The anchor investment round saw participation from several domestic and international institutional investors, including Prashant Jain's 3P India Equity Fund, Nippon India Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Bank of India Mutual Fund, Kotak Mahindra Life Insurance, Edelweiss Life Insurance and Societe Generale.
According to a circular issued by the BSE, the company allotted 1.04 crore equity shares to anchor investors at INR 214 per share, which is the upper end of the IPO price band. The allotment aggregated approximately INR 222.6 crore.
The public issue is scheduled to open for subscription on July 9 and will close on July 13. The IPO consists of a fresh issue of equity shares worth INR 542 crore and an Offer for Sale (OFS) worth INR 200 crore by the promoters.
Under the OFS, promoter Deepak Goel will sell shares worth up to INR 112.5 crore, while Rakhi Goel and Devesh Goel will offload shares worth up to INR 25 crore and INR 62.5 crore, respectively.
The company has fixed the IPO price band at INR 203-214 per share. At the upper end of the price band, Laser Power & Infra is valued at around INR 3,000 crore.
The company intends to utilise approximately INR 490 crore from the fresh issue proceeds towards the prepayment or repayment of borrowings. The remaining amount will be used for general corporate purposes. Reducing debt is expected to strengthen the company's balance sheet and improve its financial flexibility after listing.
Laser Power & Infra operates in both 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 power transmission and distribution infrastructure. The company serves utilities, government agencies and infrastructure projects across the country.
As of March 31, 2026, the Kolkata-headquartered company operated three manufacturing facilities in West Bengal with a combined installed production capacity of 85,448 metric tonnes.
For FY26, Laser Power & Infra reported revenue from operations of INR 2,326 crore and profit after tax of INR 151 crore. Its order book stood at INR 3,243 crore as of March 31, 2026, providing revenue visibility for its manufacturing and EPC businesses.
IIFL Capital Services and ICICI Securities are acting as the book-running lead managers for the IPO.
Source PTI
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