Laser Power & Infra To File Draft Papers In September, Targets ₹1,500-Crore IPO

New Delhi: Laser Power and Infra Ltd, cable and conductor manufacturer, is gearing up to file its preliminary papers this month with markets regulator Sebi to raise anywhere between Rs 1,200 crore and Rs 1,500 crore through an initial public offering (IPO), people familiar with the matter said.

With this, the Kolkata-based company is targeting a valuation of Rs 5,500-6,500 crore, they added.

Laser Power and Infra Ltd (LPIL), which has built a significant presence in the EPC segment, began as a small engineering unit and has since expanded into manufacturing and marketing a broad range of wires, cables, conductors, and specialised transmission products for domestic and overseas markets. The company is also active in large-scale electrification projects.

LPIL is led by founder and promoter Deepak Goel, who has more than three decades of experience in the cables and conductors business. Over the years, the company has executed projects that include electrification of more than 12,000 villages, commissioning 22,000 distribution transformers, renovating 99 substations, and laying over 50,000 circuit kilometers of overhead lines.

According to its website, LPIL supplies to several state and central power distribution companies, in addition to private sector clients. Its portfolio includes entities such as PGCIL and NTPC, West Bengal State Electricity Distribution Co. Ltd. (WBSEDCL), and private players like Tata Power's Odisha distribution companies, Tata Steel and Jakson.

The company is also diversifying into new areas, including water distribution infrastructure, and has more than 25 ongoing projects with a consolidated order book exceeding Rs 3,500 crore.

Financially, LPIL reported Rs 1,621.23 crore in revenue from operations in FY24, a growth of 31.4 per cent over Rs 1,233.91 crore in FY23, according to Acuite rating report.

The industry source familiar with the company noted that LPIL's expansion has been supported by its backward integration across aluminium rod casting, polymer compounding, and in-house packaging.

The company has also partnered with US-based TS Conductor to bring advanced conductor technology to India. With a manufacturing capacity of about 70,000 metric tonnes per annum, it has scope to scale up further.

On listing, LPIL will join established peers in the sector such as Polycab India, KEI Industries, APAR Industries, R R Kabel, Finolex Cables, and Universal Cables, which have drawn strong investor attention amid India's infrastructure and manufacturing push.

The broader wires and cables industry has been expanding steadily.

As per the red herring prospectus of JD Cables, which has a public offering underway, the Indian market was valued at USD 9.32 billion in 2024 and is projected to grow from USD 10.01 billion in 2025 to USD 17.08 billion by 2032. 

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