LCC PROJECTS IPO
LCC PROJECTS is a MAINBOARD IPO with a current status of CLOSED. The price band is 139 - 146 . The issue opens on 09 SEP and closes on 11 SEP. The listing date is 17 SEP.
Price Band
139 - 146
Unofficial GMP
₹56
Lot Size
102 shares
Minimum Investment
₹14,892
LCC PROJECTS IPO GMP
The latest available GMP is ₹56. Grey Market Premium is unofficial, may change frequently and does not guarantee the listing price, listing gains or investment returns.
Estimated Listing Price
₹202.00
Estimated Gain
+38.4%
LCC PROJECTS IPO GMP History
25
07 SEP
34
08 SEP
40
09 SEP
50
10 SEP
52
11 SEP
56
11 SEP
LCC PROJECTS IPO Details
- IPO Type
- MAINBOARD
- Status
- CLOSED
- Price Band
- 139 - 146
- Issue Size
- 427.14 CR
- Issue Type
- Book Build Issue
- Fresh Issue
- ₹258.00 Cr
- Offer for Sale
- ₹169.14 Cr
- Face Value
- 5
- Lot Size
- 102
- Minimum Investment
- 14,892
- Exchange
- BSE, NSE
- Registrar
- Kfin Technologies Ltd.
- Lead Managers
- Motilal Oswal Investment Advisors.
LCC PROJECTS IPO Dates
- Open Date
- 09 SEP
- Close Date
- 11 SEP
- Allotment Date
- 15 SEP
- Refund Date
- 16 SEP
- Demat Credit Date
- 16 SEP
- Listing Date
- 17 SEP
LCC PROJECTS IPO Subscription
- QIB
- 1.52x
- NII / HNI
- 26.92x
- Retail
- 14.57x
- Total
- 13.59x
LCC PROJECTS IPO Financials
Revenue
FY2026
₹3,600.25 Cr
+23.37% vs FY2025
PAT
FY2026
₹286.44 Cr
+28.09% vs FY2025
Total Assets
FY2026
₹2,447.54 Cr
+41.68% vs FY2025
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | 2,438.91 | 2,918.29 | 3,600.25 |
| Net Profit | 122.00 | 223.62 | 286.44 |
| Total Assets | 1,129.99 | 1,727.46 | 2,447.54 |
LCC PROJECTS IPO Valuation
- Market Cap (Post IPO)
- ₹4229.20 Cr.
- EPS
- 10.53
- P/E Ratio
- 13.87
- Price to Book Value
- 4.47
- ROE
- 32.24%
- ROCE
- 27.13%
- RONW
- 32.24%
- Debt / Equity
- 0.97%
- PAT Margin
- 7.96%
- EBITDA Margin
- 14.44%
- Valuation
- FAIR
LCC PROJECTS Peer Comparison
| Peer | Revenue | PAT | EPS | P/E | ROE | RONW | Debt / Equity |
|---|---|---|---|---|---|---|---|
| Enviro Infra Engineers | -- | -- | 10.42 | 19.14 | -- | 15.28% | -- |
| Vishnu Prakash R Punglia | -- | -- | 12.04 | -- | -- | -- | -- |
LCC PROJECTS IPO Market Lot
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 1 | 102 | ₹14,892 |
| Retail Maximum | 13 | 1,326 | ₹1,93,596 |
| Small HNI | 14 | 1,428 | ₹2,08,488 |
| Big HNI | 68 | 6,936 | ₹10,12,656 |
LCC PROJECTS IPO Reservation
- QIB
- 50%
- NII / HNI
- 15%
- Retail
- 35%
LCC PROJECTS Promoter Holding and Anchor Allocation
- Pre-IPO Promoter Holding
- 100%
- Post-IPO Promoter Holding
- 89.90%
- Anchor Allocation
- 87,76,869 Share
LCC PROJECTS Company Overview
LCC Projects Limited, incorporated in 2017, is an engineering, procurement and construction (EPC) company primarily focused on irrigation and water-supply infrastructure projects in India. The company undertakes large-scale infrastructure assignments involving dams, barrages, weirs, hydraulic structures, canals, pipe-distribution networks, lift-irrigation systems and water-supply schemes. The company has developed capabilities to execute projects across multiple states and, as of March 31, 2026, had the capability to undertake infrastructure projects across 12 states in India. Its operations cover project planning, engineering, procurement, construction, commissioning and, for certain projects, subsequent operations and maintenance. LCC Projects' business is heavily oriented toward EPC contracts. In FY2026, EPC activities contributed approximately ₹3,594.57 crore, representing about 99.8% of total revenue, while operations and maintenance contributed approximately ₹5.68 crore. This provides the company significant exposure to India's growing water-infrastructure spending but also creates dependence on timely government project awards and execution.
LCC PROJECTS Business Model
The company's core business is EPC execution for irrigation and water-supply infrastructure. Its major project capabilities include dams and barrages, canals, hydraulic structures, lift-irrigation projects, bulk water-supply schemes, pipelines and pipe-distribution networks. LCC typically participates in tenders and, after winning a contract, manages engineering, procurement, construction and commissioning of the project. The company's revenue is therefore driven by its order book, new tender wins and pace of project execution. Its very high EPC contribution—approximately 99.8% of FY2026 revenue—means future growth depends significantly on maintaining a healthy order pipeline and executing awarded projects within contractual timelines.
LCC PROJECTS Objects of the Issue
OBJECT OF THE ISSUE AMOUNT Funding working capital requirements of the Company ₹180.00 Crore General Corporate Purposes Balance Net Proceeds Offer for Sale proceeds NIL to Company – proceeds go to Selling Shareholders The IPO totals approximately ₹427.14 crore, comprising a ₹258 crore Fresh Issue and approximately ₹169.14 crore OFS.
LCC PROJECTS Strengths
1. Strong presence in water infrastructure: LCC Projects operates in the irrigation and water-supply infrastructure segment, which includes essential public infrastructure such as dams, canals, pipelines, lift-irrigation systems and drinking-water schemes. Its specialization provides technical experience in executing complex water-related projects. 2. Established EPC execution capabilities: The company handles multiple stages of infrastructure development, including engineering, procurement, construction and commissioning. Its experience spans dams, barrages, weirs, hydraulic structures, canals, pipe-distribution networks and water-supply schemes. 3. Geographic diversification: As of March 31, 2026, the company had capabilities to undertake projects across 12 Indian states, reducing complete dependence on infrastructure spending in a single state. 4. Strong recent financial growth: LCC Projects has recorded significant expansion in its revenue and profitability leading into the IPO. The strong growth reflects increased project execution and provides positive operating momentum entering the public market. 5. Large infrastructure opportunity: Government spending on drinking-water supply, irrigation, rural infrastructure and water-management projects can provide a substantial long-term opportunity for companies with established water EPC capabilities. 6. IPO proceeds support working capital: Approximately ₹180 crore of fresh proceeds is proposed for working-capital requirements. EPC businesses typically require substantial working capital because of the timing difference between project expenditure, milestone certification and customer payments. Strengthening working capital can therefore support execution of a larger order book.
LCC PROJECTS Risks
1. High dependence on EPC business: Approximately 99.8% of FY2026 revenue came from EPC activities. Consequently, delays in project awards, execution problems or weaker government infrastructure spending could materially affect revenue and profitability. 2. Government-client exposure: Water and irrigation infrastructure projects are substantially linked to government authorities and public-sector spending. Changes in government budgets, tender policies, project approvals or payment schedules can affect the company's order inflow and cash flows. 3. Working-capital intensive operations: EPC projects generally require substantial upfront expenditure on materials, labour, equipment and subcontractors before payments are received from customers. The fact that ₹180 crore of IPO proceeds is earmarked for working capital highlights the importance of funding availability to the business. 4. Project execution risk: Large water-infrastructure projects can face delays due to land availability, regulatory approvals, environmental clearances, local issues, adverse weather, changes in project scope or difficulties involving subcontractors. Delays can increase costs and reduce project margins. 5. Competitive bidding risk: Government EPC contracts are commonly awarded through competitive tender processes. Aggressive bidding to secure projects may reduce margins, while conservative bids can result in loss of orders to competitors. 6. Raw-material and cost-inflation risk: Steel, cement, pipes, fuel and other construction inputs represent important project costs. Unexpected increases in these costs can pressure profitability where contractual escalation mechanisms do not fully compensate the company. 7. Order-book conversion risk: A large order book does not automatically translate into revenue or profit. Projects may be delayed, modified, cancelled or executed more slowly than anticipated. Therefore, investors should evaluate both the size and quality of LCC Projects' order book.
LCC PROJECTS Frequently Asked Questions
What is the LCC PROJECTS IPO price band?
The LCC PROJECTS IPO price band is 139 - 146 .
What is the latest LCC PROJECTS IPO GMP?
The latest available LCC PROJECTS IPO GMP in the IPOWEB database is ₹56. GMP is unofficial and does not guarantee a listing gain.
When does the LCC PROJECTS IPO open and close?
The LCC PROJECTS IPO opens on 09 SEP and closes on 11 SEP.
When is the LCC PROJECTS IPO allotment date?
The LCC PROJECTS IPO allotment date is 15 SEP.
When is the LCC PROJECTS IPO listing date?
The LCC PROJECTS IPO listing date is 17 SEP.
What is the LCC PROJECTS IPO subscription?
The latest total subscription available for the LCC PROJECTS IPO is 13.59x.