Laser Power & Infra, a power cables and conductors maker, has filed its preliminary papers with markets regulator SEBI to raise ₹1200 crore through an initial public offering (IPO).
The proposed IPO of the Kolkata-based company would be a combination of a fresh issue of equity shares worth ₹800 crore and an offer for sale (OFS) of equity shares valued at ₹400 crore by promoters, according to the draft red herring prospectus (DRHP).
The promoters of the company are Deepak Goel, Devesh Goel, Akshat Goel and Rakhi Goel. As part of the OFS, Deepak Goel, Rakhi Goel and Devesh Goel will offer equity shares aggregating up to ₹225 crore, ₹50 crore and ₹125 crore, respectively.
The company proposes to utilise the net proceeds of the fresh issue towards pre-payment or repayment, in full or in part, of certain outstanding borrowings worth ₹600 crore and a portion would be earmarked for general corporate purposes.
The sale of power cables and conductors manufactured by the company, incorporated in 1988, contributes a significant portion to its revenue from operations (more than 72.25 per cent, 87.43 per cent and 90.51 per cent for FY25, FY24 and FY23, respectively).
In the DRHP, the company said it is the fastest growing manufacturer of power cables and conductors in terms of growth of revenue from operations, and it has strong manufacturing capabilities, through strategically located manufacturing units.
In FY25, the company reported revenue from operations at ₹2,570 crore, recording around 40 per cent CAGR from FY23. The FY25 profit after tax stood at ₹106 crore.
IIFL Capital Services and ICICI Securities are the book running lead managers to the offer.