LCC Projects Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹139 - ₹146
- Lot size
- 102 shares
- Issue amount
- ₹427.14 cr
- Total subscription
- 49.57×
- Opens
- 9 Sept 2026
- Closes
- 11 Sept 2026
- Allotment
- 15 Sept 2026
- Listing
- 17 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 2,92,56,232 shares
- Face value
- ₹5 per share
- Minimum investment
- ₹14,178
- Fresh issue
- ₹258 cr
- Offer for sale
- ₹169.14 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,892
- Issue type
- Bookbuilding IPO
- Shares before issue
- 27,20,00,000
- Shares after issue
- 28,96,71,232
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 102 | ₹14,892 |
| sHNI | 14 | 1,428 | ₹2,08,488 |
| bHNI | 68 | 6,936 | ₹10,12,656 |
Share reservation
Subscription & GMP
Subscription by category
Reported 11 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,00,389 | 24,07,608 |
| HNIs(10L +) | 2,049 | 24,923 |
| HNIs (2-10L) | 1,024 | 71,776 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 85.43 | 6,725.6 |
| RETAIL | 149.5 | 3,937.89 |
| HNIs 2+ | 21.36 | 1,530.5 |
| HNIs 10+ | 42.71 | 2,628.41 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 10.42 | 8.18 | 4.48 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | 32.24 | 36.96 | 31.87 |
| PRE IPO(PE) | 13.87 | 0 | 0 |
| POST IPO(PE) | 14.76 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| LCC Projects Limited | 13.87 | 0 | 5 | 32.66 | 32.24 | 10.42 |
| Vishnu Prakash R Punglia Limited | 0 | 0 | 10 | 50.54 | 0 | -12.04 |
| Enviro Infra Engineers Limited | 19.14 | 0 | 10 | 70.23 | 15.28 | 10.42 |
Company information
Company profile
Incorporated in 2017, LCC Projects Limited provides engineering, procurement, and construction (EPC) services primarily in the irrigation and water supply segment, executing projects such as dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other related EPC works. As of September 30, 2024, the company’s order book comprised 68 projects, with the Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi-Village Scheme, and Gandhi Sagar-1 Multi-Village Scheme being the top three projects. Historically, LCC Projects has executed notable works including the Tawa Left Bank Canal, Parbati Dam Project, Dudhai Sub-Branch Canal Project, and the Akot Lift Irrigation Scheme, and expanded its geographic presence from eight states in FY22 to 11 states by September 30, 2024, covering Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Himachal Pradesh, and Haryana, with a workforce of 1,788 permanent employees as of the six months ended September 30, 2024.
Strengths
- Leading EPC Position: LCC is one of the leading multidisciplinary EPC companies in India in irrigation and water supply projects. Its long experience and strong project execution record support its position in the infrastructure sector.
- Strong Order Book & Diversified Projects: The company had an order book of 68 projects as of September 30, 2024. Its projects cover irrigation, water supply, metro rail, mining and other infrastructure segments, providing good visibility for future revenue.
- In-House Technical Capabilities: LCC has strong in-house design and technical expertise, enabling it to execute complex EPC projects across different infrastructure sectors.
Risk factors
- Dependence on Government Projects: A large part of the company’s business comes from state and central government projects. Any reduction or delay in new project awards could negatively affect revenue and financial performance.
- Dependence on Successful Bidding: The company’s future growth depends on its ability to successfully bid for and win new irrigation and water supply projects. Failure to secure new projects could limit business growth.
- Project Cost Overruns: Actual project costs may be higher than estimated during the bidding process. If the company cannot recover these additional costs, it could negatively affect profits, cash flow and financial performance.
Promoters
Arjan Suja Rabari
Laljibhai Arjanbhai Ahir
Maya Arjan Rabari
Registrar & documents
Lead manager
Motilal Oswal Investment Advisors Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
‘B’ Wing,15th Floor, Privilon Building, Vikram Nagar AmbliBopal Road, Behind ISKCON Temple, Ahmedabad, Gujarat, 380058
+91 79 4848 4453
[email protected]Company website ↗Understanding LCCPROJECT IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.