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LCC Projects Ltd IPO

Closed Bookbuilding IPO NSE & BSE Fresh capital cum OFS
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Issue Price ₹146
GMP +₹43
Est. Listing ₹189 (+29%)
Lot Size 102
Face Value ₹5
Issue Size 29,256,232 shares (agg. up to ₹427 Cr)
Subscription 34.76x

IPO Timeline

Open Date9-Sep-26
Close Date11-Sep-26
Allotment15-Sep-26
Refund Initiation16-Sep-26
Demat Credit16-Sep-26
UPI Mandate Deadline-
Listing Date17-Sep-26
Lock-in (30%)15-Oct-26
Lock-in (50%)14-Dec-26

Category-wise Subscription

Shares offered, bid & amount
CategorySub (x)OfferedBid ForAmt (Cr)*
QIB 32.05x 14,628,115 468,868,194 ₹214 Cr
NII (HNI) 64.64x 4,388,435 283,654,146 ₹64 Cr
Retail 25.81x 10,239,682 264,302,706 ₹149 Cr
Σ  Total34.76x29,256,2321,016,825,046₹427 Cr

Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.

Issue Details

Issue Price / Price Band₹146
Face Value₹5
Lot Size102 shares
Issue Size29,256,232 shares (agg. up to ₹427 Cr)
Issue TypeBookbuilding IPO
Listing ExchangeNSE & BSE
Sale TypeFresh capital cum OFS
Script Code—
Fresh Issue17,671,232 shares (agg. up to ₹258 Cr)
Offer for Sale11,585,000 shares of ₹5 (agg. up to ₹169 Cr)
Net Offer to Public—
Amount In₹ Crores
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Minimum Investment (Lot-wise)

CategoryLotsSharesAmount (₹)
Retail (Min)1102₹14,892
Retail (Max)131,326₹193,596
S-HNI (Min)141,428₹208,488
B-HNI (Min)676,834₹997,764
Retail1 lot(s)102 shares₹14,892

Shareholding Pattern

Pre-Issue Shareholding272,000,000 shares%
Post-Issue Shareholding289,671,232 shares%
Reserved for Market Maker—

Financial Statements Amount in ₹ Crores

Metric 31 Mar 2026 31 Mar 2025 31 Mar 2024
Revenue 3,639 2,941 2,450
EBITDA 520 401 241
Profit After Tax 286 224 122
Net Worth 888 605 383
Total Assets 2,448 1,727 1,130
Reserves & Surplus 752 469 349
Total Borrowing 861 650 422

Valuation & Key Ratios

ROE32%
ROCE27%
RONW32%
PAT Margin8%
EBITDA Margin14%
Debt/Equity1
P/BV4
Pre EPS₹11
Post EPS₹10
Pre P/E14
Post P/E15

Grey Market Premium (GMP)

+₹43 Current GMP
₹189 Est. Listing Price
+29% Expected Gain

GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.

Objects of the Issue

  • Purchase of equipment – 14.69
  • Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by Company – 180.00
  • General corporate purposes –

Company Overview

Incorporated in 2017, LCC Projects Limited offers engineering, procurement and construction (“EPC”) services in the irrigation and water supply projects segment. The company has executed projects in the irrigation and water supply segment, such as the construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other EPC projects.

As of March 31, 2026, the company's Order Book comprises 103 projects, of which Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi – Village Scheme, and Gandhi Sagar 1 Multi-Village Scheme are the top three projects.

In the past, LCC have also executed notable projects, such as the construction of Tawa Left Bank Canthe al, Parbati Dam Projthe ect, Dudhai Sub Branch Canal Projectthe and AKOT Lift Irrigation Scheme.

The company expanded its operations from eight states in Fiscal 2026 to 12 states by March 31, 2026, namely, Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Andhra Pradesh, Himachal Pradesh, and Haryana.

As of March 31, 2026, the company had 2,093 permanent employees.

Company Information

Address‘B’ Wing,15th Floor, Privilon Building, Vikram Nagar AmbliBopal Road, Behind ISKCON Temple, Ahmedabad, Gujarat, 380058