West Bengal-based power cable and conductors manufacturer Laser Power & Infra has approached capital markets on September 27 as it is planning to raise Rs 1,200 crore via initial public offering for reducing debt burden.

The company proposed to issue fresh shares worth Rs 800 crore, while promoters will sell shares amounting to Rs 400 crore via offer-for-sale.

As a part of fresh issue, Laser Power may consider raising funds up to Rs 160 crore before the IPO launch, i.e. pre-IPO round.

The company intends to utilise Rs 600 crore of fresh issue proceeds for repayment of its certain borrowings, which ultimately resulted into significant debt reduction as its total outstanding borrowings were Rs 702.6 crore till September 12 this year.

Further, the remainder fresh issue funds will be used

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