Laser Power and Infra Plans ₹1,200–1,500 Crore IPO, Eyes Valuation of up to ₹6,500 Crore

Mumbai, 22 September 2025: Kolkata-based Laser Power and Infra Ltd (LPIL) is set to file draft papers with the Securities and Exchange Board of India (SEBI) this month to raise between ₹1,200 crore and ₹1,500 crore through its upcoming initial public offering (IPO). The issue is expected to value the company between ₹5,500 crore and ₹6,500 crore, according to people familiar with the development.

Founded by Deepak Goel, who brings over three decades of industry experience, LPIL has executed projects across India on a significant scale. The company has electrified over 12,000 villages, commissioned 22,000 distribution transformers, renovated 99 substations, and laid more than 50,000 circuit kilometres of overhead lines. Its client base spans leading public sector entities like PGCIL, NTPC, WBSEDCL, along with private players such as Tata Power Odisha, Tata Steel, and Jakson.

Valuation Target of ₹6,500 Crore Reflects Industry Expansion

LPIL’s proposed valuation mirrors the broader expansion of India’s wires, cables, and infrastructure sector, which has seen robust demand in recent years. The company’s move to file for an IPO follows its increasing scale of operations across domestic and international markets. The funds raised will provide resources for growth at a time when the infrastructure push in India is intensifying.

From ₹1,233.91 Crore to ₹1,621.23 Crore: Strong FY24 Revenue Growth

For FY24, LPIL reported ₹1,621.23 crore revenue from operations, a 31.4% jump year-on-year compared with ₹1,233.91 crore in FY23, as per Acuite Ratings. The improvement was supported by growth in the company’s engineering, procurement and construction (EPC) business, as well as demand for its cable and conductor products.

The expansion underscores how infrastructure projects, particularly electrification and power distribution, are driving higher turnover for LPIL.

Order Book of Over ₹3,500 Crore Supported by Diversification

The company currently has a consolidated order book exceeding ₹3,500 crore. Beyond its core wires and cables business, LPIL is expanding into water distribution infrastructure, where it has more than 25 ongoing projects.

This diversification complements its traditional strengths and reduces dependence on a single revenue stream. It also adds visibility to future cash flows as India continues to focus on urban and rural infrastructure.

₹149 Crore Capacity Boost Through Backward Integration and Partnerships

LPIL has strengthened its operations with backward integration, including aluminium rod casting, polymer compounding, and in-house packaging. It has also partnered with US-based TS Conductor to introduce advanced conductor technology in India.

With an annual manufacturing capacity of 70,000 metric tonnes, the company has built flexibility to scale further and meet larger project requirements. These initiatives strengthen efficiency while also creating room for margin improvement.

Industry Growth Pushes Peers Like Polycab and KEI, Setting Context for LPIL

If listed, LPIL will join established peers such as Polycab India, KEI Industries, APAR Industries, R R Kabel, Finolex Cables, and Universal Cables. These firms have benefited from strong demand linked to India’s infrastructure expansion.

Industry studies show the Indian wires and cables 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. This provides a supportive backdrop for LPIL’s growth trajectory.

Laser Power and Infra’s planned ₹1,200–1,500 crore IPO highlights how companies in the wires and cables sector are leveraging India’s infrastructure growth cycle. The firm’s revenue expansion, order book strength, and diversification into water projects provide a snapshot of its operational momentum as it prepares for its market debut.

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