Laser Power & Infra Ltd., an integrated manufacturer of power cables, conductors and specialised products for the power transmission and distribution industry, will launch its Rs 742-crore initial public offering on July 9. The issue will close on July 13, according to its red herring prospectus. The IPO comprises a fresh issue of equity shares worth Rs 542 crore and an offer for sale of shares aggregating up to Rs 200 crore by promoter selling shareholders. Net proceeds from the fresh issue will be used towards repayment or prepayment of borrowings amounting to Rs 490 crore, and for general corporate purposes. The company operates three manufacturing units in West Bengal and reported revenue of Rs 2,326 crore and net profit of Rs 151 crore in FY26. Its order book stood at Rs 3,243 crore as of March 31, 2026. Laser Power, which also has an engineering, procurement and construction division, is a licenced stranding partner of US-based TS Conductor, allowing it to locally manuf...
Almost a year after stating that Elon Musk is the "singular solution" he trusts to run Twitter, Jack Dorsey seems to have changed his stance on Mr Musk's leadership of the microblogging website. On Friday, the former CEO of Twitter issued his sharpest criticism yet of Mr Musk's leadership of Twitter, saying that the tech billionaire has not proved to be the platform's ideal steward and should have walked away from buying the site.
Mr Dorsey criticised Mr Musk in a series of reply posts on the social network Bluesky, a potential Twitter rival that Mr Dorsey helped to start. According to The Washinton Post, he responded to a question from a Bluesky user regarding whether he felt that Mr Musk proved the "best possible steward".
"No. Nor do I think he acted right after realizing his timing was bad. Nor do I think the board should have forced the sale. It all went south. But it happened and all we can do now is build something to avoid that ever happening again. So I'm happy Jay and team and nostr devs exist and building it," Mr Dorsey said.
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According to Fortune, in another post, Mr Dorsey also stated that Mr Musk should have walked away by paying 1 billion dollars to the board. "If Elon or anyone wanted to buy the company, all they had to do was name a price that the board felt was better than what the company could do independently. This is true for every public company. Was I optimistic? Yes. Did I have final say? No. I think he should have walked away and paid the $1b," he stated.
Further, responding to a post in which a user said, "It's pretty sad how it all went down," Mr Dorsey replied simply: "Yes".
Notably, it was not long ago when Mr Dorsey had said that if Twitter had to be a company at all, "Elon is the singular solution I trust".
"In principle, I don't believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness," he tweeted in 2022 before Mr Musk's Twitter acquisition had come to fruition.
from NDTV News- Special https://ift.tt/uq1Cswh
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