IPO
Laser Power & Infra’s Rs.742-Cr IPO closes with 38.94x subscription
The initial public offer of Kolkata-based Laser Power & Infra closed with an overall subscription of 38.94 times. The issue received bids for 99,63,24,700 shares against the 2,55,86,207 shares on offer. The IPO comprised a fresh issue of equity shares worth INR 542 crore and an offer for sale by promoters Deepak Goel, Rakhi Goel and Devesh Goel worth INR 200 crore.The qualified institutional buyers’ category was subscribed 92.25 times, while the non-institutional investors' and retail individual investors' categories were subscribed 43.34 times and 6.59 times, respectively. Earlier, the company had raised INR 222.59 crore from 19 anchor investors at a price of INR 214 per share.Laser Power & Infra is an integrated manufacturer of power and control cables, conductors, and specialty electrical products that also provides engineering, procurement, and construction solutions for the power transmission and distribution sector. The company operates three manufacturing facilities in West Bengal and serves government utilities, Indian Railways, distribution companies, and private contractors. As of March 31, 2026, it reported an order book of INR 3,243.4 crore and a consolidated net profit of INR 151.59 crore on sales of INR 2,326.10 crore for the twelve months ended on that date.The company plans to use INR 490 crore from the net proceeds of the fresh issue for the full or partial repayment or prepayment of outstanding borrowings.
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