LCC Projects IPO

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Price Band

139 – ₹146

Issue Size

427.14 Cr

Issue Dates

9 Sept 11 Sept 2026

Listing Date

17 Sept 2026

About LCC Projects Ltd.

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 Canal Project, Parbati Dam Project, Dudhai Sub Branch Canal Project 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.

IPO Details

Price Band₹139 – ₹146
Face Value₹5
Issue Size₹427.14 Cr
Fresh Issue₹258 Cr
Offer for Sale169.14 Cr
Total Shares Offered2,92,56,232
Listed OnBoth

Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: (1) Purchase of equipment - Rs. 14.69 Cr; (2) Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company - Rs. 180.00 Cr; (3) General corporate purposes (amount not disclosed). Total of specified objects: Rs. 194.69 Cr. The Offer for Sale of 1,15,85,000 equity shares of Rs. 5 each (aggregating Rs. 169.14 Cr) comprises shares sold by Promoters Arjan Suja Rabari (57,92,500 shares, Rs. 84.57 Cr) and Laljibhai Arjanbhai Ahir (57,92,500 shares, Rs. 84.57 Cr).

Key Financial Metrics

EPS (Basic)

10.53

P/E Ratio

13.87x

ROE

32.24%

ROCE

27.13%

Debt / Equity

0.97

Financial Performance

Particulars (₹ Cr)FY2024FY2025FY2026
Revenue
EBITDA241.37401.04519.9
PAT122223.63286.44
Total Assets1,129.991,727.462,447.54
Net Worth382.83604.99888.41
Total Borrowings422.3649.55860.65

Valuation

Market Capitalisation

Pre-IPO₹3,971 Cr
Post-IPO₹4,229.2 Cr

P/E Ratio

Pre-IPO13.87x
Post-IPO14.76x

Promoter Holding

Pre-IPO100%
Post-IPO89.9%

Public Holding

Pre-IPO0%
Post-IPO10.1%

Lot Size & Allocation

Investment by Category

CategoryLot SizeMin InvestmentMax Investment
retail_min102 shares₹14,892
retail_max102 shares₹1,93,596
shni_min14 × 102₹2,08,488
shni_max102 shares₹9,97,764
bhni_min68 × 102₹10,12,656

Reservation / Allocation

CategoryAllocationCut-off
QIB Shares Offered50%No
Retail Shares Offered35%Yes
NII (HNI) Shares Offered15%No

Registrar & Lead Managers

Registrar

Kfin Technologies Ltd.

Lead Managers (1)

Motilal Oswal Investment Advisors Ltd.

Frequently Asked Questions

5 questions about LCC Projects IPO IPO

LCC Projects IPO is a book build issue of 2,92,56,232 equity shares of face value Rs. 5, comprising a fresh issue of Rs. 258.00 crores and an offer for sale of 1.16 crore shares aggregating up to Rs. 169.14 crores, for a total issue size of Rs. 427.14 crores. The issue is priced in the band of Rs. 139 to Rs. 146 per share.

Important Dates

Issue Opens9 Sept 2026
Issue Closes11 Sept 2026
Allotment15 Sept 2026
Refund Initiation16 Sept 2026
Demat Credit16 Sept 2026
Listing Date17 Sept 2026

Live GMP

Grey Market Premium25
GMP %17.12%
View GMP History

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