Laser Power & Infra IPO

The Laser Power and Infra IPO is a book-built issue with a total offer size of ₹1200 crore, which includes a fresh issue of up to ₹800 crore and an offer for sale (OFS) of up to ₹400 crore, with a face value of ₹5 per share. The company filed its DRHP with SEBI on Sep 27, 2025.

The price band and official dates of subscription and listing will be announced by the company later, but the equity shares are supposed to be listed on the BSE and the NSE platforms. The book-running lead managers (BRLMs) for this issue are IIFL Capital Services Ltd. and ICICI Securities Ltd. Meanwhile, MUFG Intime India Private Ltd. will act as the registrar to the issue.

Company Background

Laser Power and Infra Ltd. was incorporated in 1988 in Kolkata, West Bengal, as a private firm. The company has undergone various changes over the years to align its name with the expansion of its business operations. The company was renamed in 2016 as a private company and then became a public limited company in September 2025; this transition reflects its growth and increased market presence. The company has transformed from a cable manufacturing company to a power solution provider. The company now operates in 2 segments of the business: manufacturing of electrical components and EPC services.

Operations & Product Range

Laser Power and Infra Ltd.'s operations are divided between high-quality manufacturing and turnkey project execution. In its manufacturing segment, it produces an extensive range of power cables (low/medium voltage (LV/MV), aerial bunched cables, specialized quad and signaling cables) and various types of aluminum conductors (ACSR and AAAC), which are essential for high-voltage power transmission.

The services segment of the company includes the EPC business, which offers turnkey solutions for power distribution, substation construction and rural electrification projects. Thus, the company caters to a large and diverse client base, which includes government organizations such as the Indian Railways and various power distribution companies, as well as various EPC companies from the private sector.

Facilities & Capacity

Manufacturing excellence is at the core of Laser Power and Infra Ltd.'s strategy. As of March 31, 2025, Laser Power and Infra operate three manufacturing units located in West Bengal (2 of these facilities are in Dhulagarh and the 3rd one is in Kharagpur) to boost the overall installed capacity of 73,100 metric tons (MT). The company has also expanded backward integration to manufacture aluminum rods, alloy rods and PVC compounds in-house. The manufacturing units are equipped with testing labs certified by NABL to ensure that all the products meet the stringent requirements.

Brands & Market Presence

Laser Power and Infra Ltd. has built a strong market presence in Eastern India. It has expanded its presence across the country through its EPC projects. The manufacturing segment of the company provides the hardware, while the EPC segment ensures the "Laser Power" brand is visible in large-scale infrastructure projects. The glued positioning of Laser Power and Infra Ltd. is also supported by the strategic alliance that helps the company to offer advanced technological solutions in the power transmission segment.

Revenue Streams & Business Model

The main revenue streams of Laser Power and Infra Ltd. are the sale of manufactured power cables and conductors, as well as EPC contract revenue. Its business model involves a combination of product and service components. For FY25, the company’s total income was about ₹2,592.53 crore and its order book was about ₹2,317.25 crore. The manufacturing segment usually generates more revenue, whereas the EPC segment offers higher-value projects, which are critical for business growth and diversification.

Management & Shareholding

Laser Power and Infra Ltd. is promoted by the Goel family, who have years of experience in the electrical and infrastructure sectors. Before the Laser Power and Infra IPO, the promoters held 100% of the equity share capital. After the IPO, promoter group ownership will be diluted, but they will still retain a majority stake.

Board & Key Management

The key management of Laser Power and Infra Ltd. consists of MD Mr. Deepak Goel and he is assisted by the company's board of directors, which includes both executive and independent directors from the promoter family. The management team is responsible for the company's specialized divisions for manufacturing, procurement and project management.