Laser Power & Infra IPO

About Laser Power and Infra IPO

The IPO of Laser Power and Infra comprises a fresh issue and an offer for sale. The fresh issue aggregates up to ₹800 crores and the offer for sale aggregates up to ₹400 crores. The total issue size is pegged at ₹1200 crores. It’s a 100% book-built issue. The price band is TBA. The IPO opens on TBA and closes on TBA.

The listing date is on TBA and the allotment date is TBA. The credit of shares to the Demat account will take place on TBA, while the initiation of refund will take place on TBA.

Laser Power and Infra is an integrated manufacturer of power cables, conductors and other specialised products and components to the power transmission and distribution industry in India. With an established operating history spanning over three decades, it has built a strong reputation for delivering high-quality products tailored to the evolving needs of its clients and tailor-made for their projects.

Objectives of Laser Power and Infra IPO

The company proposes to utilise the IPO proceeds for:

• Pre-payment or re-payment, in full or in part, of all or a portion of certain outstanding borrowings
  
• General corporate purposes
  

Industry Outlook

In FY25, the cables and wire market was valued at ~₹1,951 billion, up from ₹781 billion in FY20, registering a CAGR of 20.1%. This notable surge can be primarily attributed to a remarkable growth of high voltage (HV) & extra-high voltage (EHV)-above 33 KV cables and elastomeric cables also known as rubber cables. Other cable categories contributing substantially to the accelerated market growth include PVC control cables & instrumentation, building wires, and switchboard cables, driven by pickup in construction activities in both commercial and residential sectors post COVID-19.

Moving forward, Crisil Intelligence expects the wires and cables market size to grow at a CAGR of 11-13% between FY25 and FY30 and reach ₹3350 billion-₹3550 billion by FY30 due to ongoing infrastructure development projects, surge in construction activities and increasing digital connectivity, railway electrification, smart grid investments and export demand.

Company Information

Laser Power and Infra is an integrated manufacturer of power cables, conductors and other specialised products and components to the power transmission and distribution industry in India. With an established operating history spanning over three decades, it has built a strong reputation for delivering high-quality products tailored to the evolving needs of its clients and tailor-made for their projects.

In furtherance of its forward integration strategy, in the year 2015, it strategically expanded its business by entering the engineering, procurement, and construction (“EPC”) segment in power distribution sector, focusing on rural electrification projects, power distribution infrastructure development, and installation of substations, among other turnkey solutions.

Strengths of Laser Power and Infra

• Fastest growing manufacturer of power cables and conductors in terms of growth of revenue from operations
  
• Strong manufacturing capabilities, through strategically located manufacturing units
  
• Robust execution capabilities, with a track record of executing and handling complex EPC projects successfully and strong backward integration capabilities
  
• Established track record with a marquee customer base
  
• Strategic partnerships and collaboration with international players
  
• Strong and diversified order book with long term revenue growth visibility
  
• Experienced promoters and management team with skilled workforce
  

Risks of Laser Power and Infra IPO

• Loss of any top 10 customers could have an adverse effect on business, financial condition, results of operations and cash flows
  
• Adverse development in the performance in the manufacturing business segment could have an adverse effect on business
  
• Significant increases or fluctuations in prices of, or delay or disruption in supply of primary raw materials could affect estimated costs
  
• Dependence on a limited number of suppliers and it doesn’t have long term agreements with most of its suppliers
  
• Delays in the collection of receivables from customers or if it’s unable to access suitable financing to meet working capital requirements, it could lead to material adverse effect on business
  
• Continued operations at all of its manufacturing units located in West Bengal, may expose it to regional risks
  
• Any adverse changes or termination of agreement with TS Conductor Corp could materially and adversely affect business
  
• Adverse changes in the conditions affecting the power infrastructure sector can adversely impact business
  

Anchor Investor Bidding Date

TBA

IPO Registrar and Book Running Lead Managers

• IPO Registrar: MUFG Intime India
• Book Running Lead Managers: IIFL Capital Services and ICICI Securities

Business Model

Laser Power and Infra operate two key business segments — manufacturing and EPC. Its manufacturing segment consists of three key product categories (i) power and control cables; (ii) speciality products; and (iii) conductors. Its EPC segment focuses on delivering turnkey solutions for rural and urban electrification, distribution and power infrastructure development.

Its EPC offerings include complete design, supply, erection, testing and commissioning of high tension (“HT”) and low tension (“LT”) overhead lines, substations (up to 33/11 kV), distribution transformers and switchgear, aerial bunched cabling and underground cabling, feeder segregation and system strengthening and household electrification and last-mile connectivity.

Company Growth Trajectory

The revenue from operations of Laser Power and Infra grew from ₹1314.457 crores in FY 23 to ₹2570.397 crores in FY 25. Its EBITDA margin grew from 8.50% in FY 23 to 9.74% in FY 25, while PAT margin increased from 1.75% in FY 23 to 4.12% in FY 25. Strong manufacturing capabilities and robust execution have helped the company grow over the years.

Market Position

According to CRISIL, Laser Power and Infra is one of the leading players in terms of manufacturing capacity of 73,100 MT for power cables and conductors in Fiscal 2025, among the power cable and conductor players having manufacturing facilities of power cable and conductors in East India.

With over three decades of experience in the manufacturing industry, the company has developed a robust presence across both domestic and international markets, catering to the requirements of government utilities, power transmission and distribution companies and private sector infrastructure players.

How to Check Allotment Status of Laser Power and Infra IPO?

1. Visit the Registrar’s Website

• Visit the website of MUFG Intime India
  
• Choose ‘Public Issues’ from Investor Services dropdown
  
• Choose the name of the company from ‘Select Company’ dropdown
  
• Enter any of these - PAN Number, Application Number, DP/Client ID, Account Number / IFSC
  
• Click on Submit to check the status
  

2. Check on the National Stock Exchange Website

The National Stock Exchange (NSE) website has an IPO bid verification module. You can use it to check the allotment status of Laser Power and Infra IPO. Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO bid verification page, enter:

• Company name from dropdown
  
• Application number
  
• PAN
  

Then click 'Submit' to know the allotment status.

3. Check on the BSE Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Select 'Equity' from the dropdown menu
  
• Choose 'Laser Power and Infra' in the next dropdown
  
• Enter your application number
  
• Enter your PAN
  
• Click 'Search’ to know allotment status
  

How to Apply for Laser Power and Infra IPO?

To apply for this IPO:

• Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Specify IPO details: Enter the number of lots and the price you wish to apply for.
  
• Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Mandate Notification: Your UPI app will receive a mandate notification to block funds.
  
• Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.