GMP IPO Watch
LCC Projects IPO
LCC Projects IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
LCC Projects IPO Details
Key facts at a glance| IPO Open Date | 8 September 2026 | IPO Close Date | 10 September 2026 |
|---|---|---|---|
| Basis of Allotment | 14 September 2026 | Listing Date | 16 September 2026 |
| Price Band | ₹139 - ₹146 per share | Face Value | ₹10 per share |
| Market Lot Size | 102 Shares | Min Investment (Retail) | ₹14,892 |
| Total Issue Size | ₹427.14 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | ₹258 Cr | Offer for Sale (OFS) | ₹169.14 Cr |
| Listing At | BSE, NSE | Issue Category | Mainboard Issue |
| Registrar | Kfin Technologies Ltd. | ||
LCC Projects IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 8 September 2026 | Confirmed |
| IPO Close Date | 10 September 2026 | Confirmed |
| Basis of Allotment | 14 September 2026 | Tentative |
| Initiation of Refunds | 16 September 2026 | Tentative |
| Credit of Shares to Demat | 16 September 2026 | Tentative |
| IPO Listing Date | 16 September 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 11 September 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
LCC Projects IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 102 Shares | ₹14,892 |
| Retail (Max) | 13 Lots | 1,326 Shares | ₹1,93,596 |
| S-HNI (Min) | 14 Lots | 1,428 Shares | ₹2,08,488 |
| S-HNI (Max) | 67 Lots | 6,834 Shares | ₹9,97,764 |
| B-HNI (Min) | 68 Lots | 6,936 Shares | ₹10,12,656 |
LCC Projects IPO Live GMP & Movement History
Daily unofficial grey market trends₹36 +24.7%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 17 Sept 2026 | ₹36 | ₹182.00 | +24.66% |
| 16 Sept 2026 | ₹54 | ₹200.00 | +36.99% |
| 11 Sept 2026 | ₹51 | ₹197.00 | +34.93% |
| 10 Sept 2026 | ₹45 | ₹191.00 | +30.82% |
| 9 Sept 2026 | ₹33 | ₹179.00 | +22.60% |
| 7 Sept 2026 | ₹25 | ₹171.00 | +17.12% |
| 6 Sept 2026 | ₹17 | ₹163.00 | +11.64% |
LCC Projects IPO Subscription Status
Demand breakdown by investor categoryLCC Projects Company Financials
Restated figures (₹ in Crores)| Period | Total Assets | Total Revenue | Total Expenses | Profit After Tax (PAT) |
|---|---|---|---|---|
| 2024 | 1129.99 Cr. | 2449.79 Cr. | 2241.87 Cr. | 122.00 Cr. |
| 2025 | 1727.46 Cr. | 2941.01 Cr. | 2647.56 Cr. | 223.63 Cr. |
| 2026 | 2447.54 Cr. | 3639.45 Cr. | 3260.12 Cr. | 286.44 Cr. |
* Amounts reported in ₹ Crores as sourced from company regulatory filings (RHP/DRHP).
LCC Projects IPO Valuation & KPIs
Key metrics pre-issueLCC Projects Peer Group Comparison
Listed industry peers| Company Name | P/E | EPS (₹) | RoNW (%) | NAV (₹) | Total Income |
|---|---|---|---|---|---|
| Vishnu Prakash R Punglia Limited | – | (12.04) | – | 50.54 | 851.20 Cr. |
| Enviro Infra Engineers Limited | 19.14 | 10.42 | 15.28% | 70.23 | 1145.60 Cr. |
About LCC Projects
LCC Projects is an infrastructure company operating primarily in the irrigation and water supply sector. The company executes a wide range of projects, including the construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, and water supply schemes. It generates the majority of its revenue from state and central government departments through engineering, procurement, and construction contracts awarded via competitive bidding. While irrigation and water supply projects account for the vast majority of its business, the company is diversifying into other infrastructure sectors. Its current operations include ongoing projects in metro railway construction, mining, road work, and renewable energy. The company operates across multiple states in India, with a significant geographic concentration of its ongoing projects in Gujarat and Madhya Pradesh. It also recently established a manufacturing unit for precast concrete solutions.
Key Strengths
- Proven track record in successfully executing complex irrigation and water supply infrastructure projects.
- A robust order book ensures strong future revenue visibility and growth.
- Geographically diversified operational presence spanning across 12 different Indian states.
- Consistent financial growth demonstrated by a strong revenue CAGR of 21.50% (FY24–FY26).
- Extensive in-house fleet of construction equipment and newly added precast concrete manufacturing capabilities.
Key Risks
- Top 10 clients generate 72.30% of our total operating revenue.
- High reliance on government contracts exposes us to policy shifts.
- Higher financial leverage and debt compared to listed industry peers.
- High geographic revenue concentration in Gujarat and Madhya Pradesh.
- High unbilled revenue levels could negatively impact our cash flows.
LCC Projects IPO Reservation & Share Quotas
The LCC Projects IPO reservation is divided between qualified institutional buyers, non-institutional investors and retail investors. QIB investors are allocated 50% of the shares offered, while NII investors receive 15% and retail investors receive 35%. The anchor investor allocation is currently shown as not specified in the provided details.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: Reservation percentages are based on the LCC Projects IPO details provided and may be updated with the final issue allocation.
LCC Projects IPO Anchor Investors
The LCC Projects IPO anchor bidding is scheduled for September 8, 2026, one day before the public issue opens. Anchor investors participate in the issue ahead of the broader subscription period, with the allocation and applicable lock-in details disclosed as part of the IPO process. The shares offered and anchor size are currently shown as not specified in the provided details.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 8, 2026 |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date 50% Shares (90 Days) | 2026 |
Note: Anchor allocation figures and lock-in dates are based on the information provided for the LCC Projects IPO and may be updated after the final anchor investor allocation announcement.
LCC Projects IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 09 Sept 2026 |
| IPO Close Date | 11 Sept 2026 |
| Basis of Allotment | 15 Sept 2026 |
| Refunds | 16 Sept 2026 |
| Credit to Demat Account | 16 Sept 2026 |
| IPO Listing Date | 17 Sept 2026 |
Note: The timeline for ଏଲସିସି ପ୍ରକଳ୍ପ IPO is tentative and subject to change.
LCC Projects Promoters and Shareholding Pattern
The promoters of LCC Projects are Arjan Suja Rabari, Laljibhai Arjanbhai Ahir and Maya Arjan Rabari. Before the IPO, the promoter and promoter group hold the entire pre-IPO share capital. Following the issue, their holding is expected to reduce to 89.90%, while the shareholding of others will account for 10.10% of the company.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 272,000,000 | 100% | 260,415,000 | 89.90% |
| Others* | – | -% | 29,256,232 | 10.10% |
| Total | 272,000,000 | 100% | 289,671,232 | 100% |
Note: The holding pattern is based on the provided LCC Projects IPO shareholding details. “Others*” represents shareholders outside the promoter and promoter group.
LCC Projects Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Purpose | INR crores (%) |
| Purchase of equipment | 14.69 (5.69%) |
| Prepayment and/or repayment of outstanding borrowings | 180 (69.77%) |
| General corporate purposes | 63.31 (24.54%) |
Note: Objectives are as specified in the DRHP/RHP documents of ଏଲସିସି ପ୍ରକଳ୍ପ.
LCC Projects About the IPO
LCC Projects, founded in 2017, is an engineering, procurement, and construction (“EPC”) firm that works mainly on irrigation and water supply projects. Its projects include construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other EPC projects.
As of September 2024, the firm has completed 68 projects, of which the Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi–Village Scheme, and Gandhi Sagar 1 Multi-Village Scheme are the top three. Moreover, LCC has also completed various notable projects such as the construction of the Tawa Left Bank Canal, Parbati Dam Project, Dudhai Sub Branch Canal Project, and AKOT Lift Irrigation Scheme.
In FY22, the firm was operating in 8 states, and by FY24, it had expanded to 11 states: Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Himachal Pradesh, and Haryana.
LCC Projects Company Financial Report
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 2449.79 Cr. | 2241.87 Cr. | 122.00 Cr. | 1129.99 Cr. |
| 2025 | 2941.01 Cr. | 2647.56 Cr. | 223.63 Cr. | 1727.46 Cr. |
| 2026 | 3639.45 Cr. | 3260.12 Cr. | 286.44 Cr. | 2447.54 Cr. |
Note: Financial numbers for ଏଲସିସି ପ୍ରକଳ୍ପ are in ₹ Crores unless stated otherwise.
LCC Projects Company Valuation & Key Performance Indicators
| KPI | Values |
|---|---|
| ROE | 32.24% |
| ROCE | 27.13% |
| EBITDA Margin | 14.44% |
| PAT Margin | 7.96% |
| Debt to Equity Ratio | 0.97 |
| Earning Per Share (EPS) | 10.42 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 32.24% |
| Net Asset Value (NAV) | 32.66 |
Note: Valuation KPIs for ଏଲସିସି ପ୍ରକଳ୍ପ are computed for FY2026.
LCC Projects Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Vishnu Prakash R Punglia Limited | (12.04) | – | – | 50.54 | 851.20 Cr. |
| Enviro Infra Engineers Limited | 10.42 | 19.14 | 15.28% | 70.23 | 1145.60 Cr. |
Note: Peer group comparisons for ଏଲସିସି ପ୍ରକଳ୍ପ are sourced from DRHP filings.
LCC Projects Lead Managers & Merchant Bankers
- Motilal Oswal Investment Advisors Ltd.
LCC Projects IPO FAQs
LCC Projects IPO opens for subscription on 8 September 2026 and closes on 10 September 2026.
The price band for LCC Projects IPO is set at ₹139.00 to ₹146.00 per share.
The minimum market lot size is 102 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 102 Shares (₹14,892).
The latest Grey Market Premium (GMP) for LCC Projects IPO is ₹36. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for LCC Projects IPO is tentatively scheduled for 14 September 2026, and shares are expected to list on the stock exchanges on 16 September 2026.
Kfin Technologies Ltd. is the official registrar for LCC Projects IPO. Investors can check their IPO allotment status directly on the registrar's portal once finalized.