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NSE, BSE
LCC Projects Ltd
Listed
EPC contractor focused on irrigation and water-supply projects such as dams, canals and pipelines.
Issue details
Price band
₹139 – ₹146
Face value
₹5
Lot size
102 shares
Minimum investment
₹14,892
Issue size
₹427.14 Cr
Fresh issue
₹258 Cr
Offer for sale
₹169.14 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
9 Sep 2026
Closes
11 Sep 2026
UPI mandate cut-off
5:00 PM on 11 Sep 2026
Allotment
15 Sep 2026
Refunds
16 Sep 2026
Shares in demat
16 Sep 2026
Listing
17 Sep 2026
Subscription and listing
Subscription
34.76x
Listing price
₹189
Registrar
KFin Technologies Ltd
Lead manager
Motilal Oswal Investment Advisors Ltd
Subscription by category
Total
34.76x
Total applications
24,59,204
Anchor investors
Amount raised
₹128.14 Cr
Bid date
8 Sep 2026
50% lock-in ends
15 Oct 2026
Rest lock-in ends
14 Dec 2026
Listing day
Issue price
₹146
Open
₹189.00
High
₹189.00
Low
₹170.10
Day close
₹170.10
Listing gain at open
+29.45%
Issue structure
Shares reserved per category and share of the total issue
QIB
1,46,28,115
50.00%
Anchor Investor
87,76,869
30.00%
QIB (Ex. Anchor)
58,51,246
20.00%
NII
43,88,435
15.00%
bNII > ₹10L
29,25,624
10.00%
sNII < ₹10L
14,62,811
5.00%
Retail
1,02,39,682
35.00%
Total
2,92,56,232
100.00%
Finaccle’s quick read
Apply
Income up 24% and PAT up 28% in FY26 with ROE of 32.2% and post-issue P/E of 14.8x; debt/equity of 0.97 is at the upper limit and OFS is about 40% of the issue.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
LCC Projects, incorporated in 2017, is an EPC contractor focused on irrigation and water supply works such as dams, barrages, canals, pipeline networks and lift irrigation schemes. Its clients are largely government water and irrigation agencies. It had 103 projects in its order book and about 2,093 permanent staff as of March 2026, with FY26 total income of about ₹3,639 Cr.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
32.24%
ROCE
27.13%
Debt / equity
0.97
PAT margin
7.96%
P/E post issue
14.76
Market cap
₹4,229.20 Cr
Use of IPO money
Purchase of equipment
₹14.69 Cr
Repayment/prepayment of borrowings
₹180.00 Cr
General corporate purposes
₹41.73 Cr
Issue expenses
₹35.69 Cr
Strengths
✓
Strong growth: PAT more than doubled over two years
✓
High ROE of 32% and ROCE of 27%
✓
Large order book of 103 projects
✓
Modest post-issue P/E of 14.8x
Risks to watch
!
Debt/equity near 1 with borrowings rising each year
!
Heavy reliance on government irrigation contracts
!
OFS forms about 40% of the issue
!
Execution and payment-delay risk typical of EPC
!
Small 10% public float post-issue
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.