Laser Power and Infra Ltd's Ambitious IPO Plans Unveiled
Laser Power and Infra Ltd seeks to raise Rs 1,200 crore via an IPO, aiming for a valuation between Rs 5,500-6,500 crore. The funds will address loan repayments and corporate expenses, alongside a possible Pre-IPO Placement. The company specializes in power cables, conductors, and serves significant players like Indian Railways.
- Country:
- India
Laser Power and Infra Ltd, a burgeoning name in the cable and conductor industry, is gearing up for a major financial move. The Kolkata-based company recently filed preliminary documents with Sebi, aiming to raise Rs 1,200 crore through an initial public offering (IPO).
Industry insiders reveal that the firm targets a market valuation between Rs 5,500 crore and Rs 6,500 crore. The IPO will consist of a fresh issue of equity shares worth Rs 800 crore and an offer for sale of Rs 400 crore by promoters, as per the draft red herring prospectus filed.
The fresh issue proceeds will primarily be used to repay a substantial Rs 600 crore in loans, with additional funds earmarked for general corporate purposes. As part of the offer for sale, stakeholders Deepak Goel, Rakhi Goel, and Devesh Goel plan to offload shares together valued at Rs 400 crore.
(With inputs from agencies.)
Google News