Laser Power & Infra has lowered its IPO size to Rs 742 crore, down from an earlier plan of Rs 1,200 crore. The issue, which opens for subscription on July 9, will primarily use proceeds to reduce debt. The company reported a net profit of Rs 151.6 crore for the fiscal year ending 2026.
What Happened
Laser Power & Infra, a Kolkata-based manufacturer specializing in power transmission equipment, has officially reduced the size of its upcoming initial public offering (IPO) to Rs 742 crore. According to the company’s Red Herring Prospectus filed on July 3, the public issue is now scheduled to open for subscription on July 9 and will close on July 13. This revised plan is a significant change from the Rs 1,200 crore target proposed in its earlier draft prospectus from September 2025. The offer consists of a fresh issue of Rs 542 crore and an offer-for-sale (OFS) by promoters amounting to Rs 200 crore.
Why The IPO Size Was Reduced
While the company has not provided a specific reason for the downward revision, the primary objective of the fresh issue is debt management. Out of the Rs 542 crore raised through the fresh issue, the company plans to utilize Rs 499 crore to repay existing borrowings. As of June 17, 2026, the company’s total outstanding debt was reported at Rs 935.7 crore. By reducing the fresh issue size, the company is effectively recalibrating its capital requirement for debt reduction, which may reflect a shift in its immediate balance sheet strategy.
Financial Performance Snapshot
For the fiscal year 2026, Laser Power & Infra reported a net profit of Rs 151.6 crore, marking a 42 percent increase compared to the previous year. This growth occurred despite a 9.5 percent decline in total revenue, which stood at Rs 2,326.1 crore. The profit growth was supported by improved operational efficiency, with the company’s EBITDA (earnings before interest, tax, depreciation, and amortization) rising by 20.4 percent to Rs 301.4 crore. Consequently, the company’s EBITDA margin widened by 321 basis points to 12.95 percent, suggesting better cost management or a focus on higher-value product segments during the year.
Business Context and Order Book
The company operates primarily through two segments: manufacturing and engineering, procurement, and construction (EPC). Its manufacturing arm, which produces power cables and conductors across three facilities in West Bengal, contributed 73 percent to the total revenue in FY26. The remaining 27 percent came from the EPC division, which handles rural electrification and substation projects. As of the end of FY26, the company held an order book of Rs 3,243.4 crore, providing some visibility into its future revenue pipeline, with the manufacturing segment accounting for approximately half of this total.
What Investors Should Track
Investors may keep a close eye on the price band, which is expected to be announced on July 6, as it will determine the valuation at which the company enters the market. The anchor investor book opens on July 8, and the listing is slated for July 16. Beyond the IPO process, the core monitorable for shareholders will be the company’s ability to sustain its improved profit margins while managing its remaining debt load post-repayment. Additionally, the execution of the existing Rs 3,243.4 crore order book will be critical to maintaining revenue growth in the upcoming quarters.