India’s power transmission and infrastructure sector continues to benefit from increasing investments in electricity distribution, renewable energy integration, and rural electrification.Riding this momentum, Laser Power & Infra Ltd. has launched its ₹742 crore Mainboard IPO, offering investors an opportunity to participate in one of Eastern India's established power cable and EPC companies.

This comprehensive IPO review covers the Laser Power & Infra IPO date, price band, lot size, GMP, financial performance, subscription details, strengths, risks, and our investment view.

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Laser Power & Infra IPO Snapshot

Particular	Details
IPO Type	Mainboard Book Building IPO
IPO Size	₹742 Crore
Fresh Issue	₹542 Crore
Offer For Sale	₹200 Crore
Face Value	₹5 per Share
Price Band	₹203 – ₹214
Lot Size	70 Shares
Listing Exchange	NSE & BSE
Registrar	MUFG Intime India Pvt Ltd
Lead Managers	IIFL Capital Services Ltd., ICICI Securities Ltd.

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Laser Power & Infra IPO Important Dates

Event	Date
IPO Opens	9 July 2026
IPO Closes	13 July 2026
Allotment	14 July 2026
Refund Initiation	15 July 2026
Shares Credited	15 July 2026
Listing Date	16 July 2026

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Laser Power & Infra IPO Price Band

The company has fixed the IPO price band between:

• Lower Price: ₹203

• Upper Price: ₹214

Retail investors applying at the cut-off price will invest based on ₹214 per share.

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Laser Power & Infra IPO Lot Size

Investor Category	Lots	Shares	Investment Amount
Retail Minimum	1	70	₹14,980
Retail Maximum	13	910	₹1,94,740
Small HNI	14	980	₹2,09,720
Small HNI Maximum	66	4,620	₹9,88,680
Big HNI	67	4,690	₹10,03,660

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About Laser Power & Infra Ltd.

Founded in 1988, Laser Power & Infra Ltd. is a Kolkata-based integrated manufacturer of:

• Power Cables

• Control Cables

• Conductors

• Speciality Products

The company also operates in the Engineering, Procurement & Construction (EPC) segment, undertaking:

• Rural Electrification Projects

• Urban Distribution Networks

• Power Infrastructure Development

• Substation Installation

• Turnkey Power Projects

Today, the company serves customers across 26 Indian states, 4 Union Territories, and 10 international markets.

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Manufacturing Facilities

Laser Power operates three manufacturing plants in West Bengal with a combined installed manufacturing capacity of approximately 85.45 MT.

Its backward integration strategy has helped improve operating margins while maintaining production efficiency.

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Business Segments

1. Manufacturing

The company manufactures:

• Power Cables

• Control Cables

• Conductors

• Specialised Electrical Products

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2. EPC Business

Its EPC division provides turnkey solutions including:

• Power Distribution Networks

• Rural Electrification

• Urban Electrification

• Transmission Infrastructure

• Substation Projects

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Order Book

As of 31 March 2026, Laser Power reported an outstanding order book worth:

₹3,243.4 Crore

This provides strong revenue visibility for upcoming financial years.

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Competitive Strengths

Laser Power has built a strong competitive position through:

• One of the largest power cable manufacturers in Eastern India

• Strong EPC execution capabilities

• Integrated manufacturing facilities

• Long-standing customer relationships

• Presence across India

• International partnerships

• Backward integration leading to improved margins

• Diversified product portfolio

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Financial Performance

Income Statement

Financial Year	FY24	FY25	FY26
Total Income (₹ Cr)	1,763.65	2,592.53	2,347.89
EBITDA (₹ Cr)	156.10	250.39	301.44
Profit After Tax (₹ Cr)	40.41	106.75	151.59

Key Observation

Although revenue declined by nearly 9% in FY26, the company significantly improved profitability through:

• Better operating efficiency

• Margin expansion

• Backward integration

• Higher-value products

PAT increased nearly 42% YoY.

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Balance Sheet

Particular	FY24	FY25	FY26
Assets	1,986.99	2,270.17	2,632.36
Net Worth	473.44	574.58	725.41
Borrowings	393.75	502.95	828.23

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Key Financial Ratios

KPI	Value
ROE	23.32%
ROCE	17.83%
Debt/Equity	1.10
Return on Net Worth	20.90%
PAT Margin	6.46%
EBITDA Margin	12.96%
Price to Book	3.39x

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IPO Objectives

The company plans to utilize IPO proceeds primarily for:

Purpose	Amount
Repayment of Borrowings	₹490 Crore
General Corporate Purposes	Remaining Amount

Repaying debt is expected to reduce finance costs and strengthen the balance sheet.

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Shareholding Pattern

Particular	Holding
Pre-Issue Promoter Holding	100%
Post-Issue Promoter Holding	75.29%

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Valuation

Metric	Pre IPO	Post IPO
EPS	₹13.18	₹10.80
P/E Ratio	16.24x	19.82x
Market Capitalization	₹3,003.88 Crore

The IPO appears fairly valued considering the company's profitability and order book.

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Laser Power & Infra IPO GMP

The Grey Market Premium (GMP) changes daily based on market demand.

Investors should note:

• GMP is unofficial.

• It is not regulated.

• It should not be the sole factor while deciding to invest.

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Subscription Status

The IPO opened on 9 July 2026 and will remain open until 13 July 2026.

Subscription numbers for:

• Qualified Institutional Buyers (QIB)

• Non-Institutional Investors (NII)

• Retail Investors

will continue updating during the subscription period.

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Reservation

Category	Reservation
QIB	Up to 50%
Retail	Minimum 35%
NII	Minimum 15%

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Promoters

The company is promoted by:

• Deepak Goel

• Devesh Goel

• Akshat Goel

• Rakhi Goel

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Risks to Consider

Investors should also evaluate the following risks:

• High debt before IPO

• Dependence on government infrastructure spending

• EPC project execution risks

• Commodity price volatility

• Competitive cable manufacturing industry

• Revenue declined in FY26

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Should You Apply?

Positives

✔ Strong order book of ₹3,243 crore

✔ Healthy profitability growth

✔ High ROE of 23%

✔ Established presence in power infrastructure

✔ Debt repayment through IPO proceeds

✔ Diversified manufacturing and EPC business

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Concerns

✘ Revenue declined in FY26

✘ Higher debt levels

✘ IPO appears fairly priced rather than deeply discounted

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Final Verdict

Laser Power & Infra Ltd. operates in a structurally growing industry supported by India's increasing investments in power transmission, electrification, renewable energy integration, and infrastructure development. The company's strong execution capabilities, healthy order book, improving profitability, and planned debt reduction are encouraging factors.

While the issue appears fairly valued at around 19.8x post-issue P/E, long-term investors looking to benefit from India's power infrastructure growth may consider subscribing. Short-term listing gains will largely depend on overall market sentiment, subscription demand, and prevailing Grey Market Premium (GMP).

Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investments in securities are subject to market risks.