Laser Power & Infra garners Rs 223 crore from anchor investors ahead of IPO

New Delhi, Jul 8 (PTI) Integrated power cables and transmission products manufacturer Laser Power & Infra Ltd on Wednesday raised around Rs 223 crore from anchor investors ahead of the opening of its Rs 742-crore initial public offering (IPO).

The anchor book saw participation from several domestic and global investors, including Prashant Jain’s 3P India Equity Fund, Nippon India Mutual Fund (MF), HDFC MF, Mirae Asset MF, Motilal Oswal MF, Bandhan MF, Edelweiss MF, Bank of India MF, Kotak Mahindra Life Insurance, Edelweiss Life Insurance and Societe Generale.

According to a circular uploaded on BSE’s website, Laser Power & Infra allotted 1.04 crore equity shares to anchor investors at Rs 214 apiece, the upper end of the IPO price band, aggregating

to Rs 222.6 crore.

The company’s Rs 742-crore IPO will open for public subscription on Thursday, July 9, and conclude on Monday, July 13.

The IPO comprises a fresh issue of equity shares worth Rs 542 crore and an Offer for Sale (OFS) of Rs 200 crore by promoters.

Under the OFS, promoters Deepak Goel, Rakhi Goel and Devesh Goel will sell shares worth up to Rs 112.5 crore, Rs 25 crore and Rs 62.5 crore, respectively.

The price band has been fixed at Rs 203-214 per share. At the upper end of the price band, the Kolkata-headquartered company is valued at around Rs 3,000 crore.

The proceeds from the fresh issue will primarily be used to prepay or repay borrowings worth Rs 490 crore, while the balance will be utilised for general corporate purposes.

Laser Power & Infra operates in 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 the power transmission and distribution sector.

The company has three manufacturing facilities in West Bengal with a combined installed capacity of 85,448 metric tonnes as of March 31, 2026.

It reported revenue from operations of Rs 2,326 crore and a profit after tax of Rs 151 crore in FY26. Its order book stood at Rs 3,243 crore as of March 31, 2026.

IIFL Capital Services and ICICI Securities are the book-running lead managers to the issue. PTI SP HVA