Laser Power and Infra Limited
PROSPECTUS · filed 15 Jul 2026
Laser Power and Infra Limited is a manufacturer of power cables and conductors, with a significant portion of its revenue derived from this segment. The IPO comprises a fresh issue of Rs 542 crore and an offer for sale of Rs 200 crore, with the OFS constituting 26.95% of the total issue size. The company has demonstrated a strong financial trajectory with a return on equity of 20.9% and a debt-to-equity ratio of 1.14. The draft prospectus highlights high-severity risks related to customer concentration, where top 10 customers accounted for over 50% of revenue, and dependence on government spending for transmission and distribution projects.
What stands out
Risk factor. Our business largely depends on our top 10 customers, which contributed 72.14%, 68.87% and 53.37% of our Revenue from Operations in Fiscals 2026, 2025 and 2024 respectively. The loss of any of these customers could have an adverse effect on our business, financial condition, results of operations an
Risk factor. The sale of power cables and conductors manufactured by our Company contributes a significant portion to our Revenue from Operations (72.70%, 72.25% and 87.43% for the Fiscals 2026, 2025 and 2024). Any adverse development in our performance in the manufacturing business segment could have an adverse
Risk factor. The cables and conductors market is dependent primarily on governments planned expenditure on building new transmission and distribution networks or upgrading existing transmission and distribution networks. Accordingly, our cables and conductors business may be affected by a reduction in budgetary
Risk factor. Significant increases or fluctuations in prices of, or delay or disruption in supply of primary raw materials could affect our estimated costs, expenditures and timelines which may have a material adverse effect on our business, financial condition, results of operations and cash flows.
Healthy return on equity. ROE of 20.9%.
How the offer is structured
Fresh issue
₹542 Cr
New capital into the company
Offer for sale
₹200 Cr
Goes to selling shareholders
OFS share
27%
- Pre-payment or re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company₹490 Cr
- General corporate purposes₹21.1 Cr
Promoters, litigation & related parties
Promoter (pre)
100.0%
Related-party
0.4%
Share of revenue
Except as disclosed in this section, there are no outstanding (i) criminal proceedings; (ii) actions taken by regulatory or statutory authorities; (iii) claims related to direct and indirect tax matters (disclosed in a consolidated manner); and (iv) other pending litigation as determined to be material by our Board pursuant to its resolution dated September 26, 2025 ("Materiality Policy") in each case involving our Company, Promoters and Directors ("Relevant Parties"). Further, there are no disciplinary actions including penalties imposed by SEBI or the Stock Exchanges against our Promoters in the last five Financial Years including any outstanding action. Additionally, except as disclosed in this section, there are no outstanding (i) criminal proceedings involving our Key Managerial Personnel and members of the Senior Management; or (ii) actions by statutory and regulatory authorities against our Key Managerial Personnel and members of the Senior Management, as on the date of this Prospectus.
Risks the company discloses
Our business largely depends on our top 10 customers, which contributed 72.14%, 68.87% and 53.37% of our Revenue from Operations in Fiscals 2026, 2025 and 2024 respectively. The loss of any of these customers could have an adverse effect on our business, financial condition, results of operations and cash flows.(Customer Concentration)
The sale of power cables and conductors manufactured by our Company contributes a significant portion to our Revenue from Operations (72.70%, 72.25% and 87.43% for the Fiscals 2026, 2025 and 2024). Any adverse development in our performance in the manufacturing business segment could have an adverse effect on our business, cash flows, results of operation and financial position.(Business Segment Concentration)
The cables and conductors market is dependent primarily on governments planned expenditure on building new transmission and distribution networks or upgrading existing transmission and distribution networks. Accordingly, our cables and conductors business may be affected by a reduction in budgetary allocation in transmission and distribution networks or cancellation or interruption of transmission and distribution related projects.(Government Policy & Spending)
Significant increases or fluctuations in prices of, or delay or disruption in supply of primary raw materials could affect our estimated costs, expenditures and timelines which may have a material adverse effect on our business, financial condition, results of operations and cash flows.(Raw Material Price Volatility)
Contracts with government-owned and controlled entities tend to entail a long credit period, which leads to uncertainty regarding the receipt of payments.(Credit Risk)
The volume and timing of sales to our top 10 customers may vary due to variation in demand for such customers' products or on account of their manufacturing and growth strategy. Thus, any decrease in the demand for our products from our top 10 customers, or a termination of our arrangements altogether, would adversely impact our business, results of operations, financial conditions and cash flow.(Customer Concentration)
These customers may change their outsourcing strategy by moving more work in-house, replace us with our competitors, or replace their existing products with alternative products which we do not supply.(Customer Concentration)
We cannot assure you that similar instances will not arise in the future or that such losses will not materially affect our business, results of operations, financial condition and cash flows going forward.(Customer Concentration)

