LCC Projects IPO
Bookbuilding IPO | ₹427.00 Cr | Listing at BSE, NSE
IPO Open
Wed, Sep 09, 2026
IPO Close
Fri, Sep 11, 2026
Price Band
₹139.00 to ₹146.00
Market Cap (Pre-IPO)
₹4,229.20 Cr
IPO Details
| IPO Date | Sep 09, 2026 to Sep 11, 2026 |
| Listing Date | Tentative: Sep 17, 2026 |
| Face Value | ₹5.00 per share |
| Price Band | ₹139.00 to ₹146.00 |
| Lot Size | 102 Shares (Minimum: ₹14,892.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹427.00 Crores |
| Total Shares Offered | 29,256,232 shares |
| Fresh Issue | 17,671,232 shares |
| Offer For Sale | 11,585,000 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 1.13x |
| NII | 1.58x |
| RII | 0.99x |
| Total | 1.16x |
LCC Projects IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 50.00 |
| Retail Shares Offered | 35.00 |
| NII Shares Offered | 15.00 |
LCC Projects IPO Lot Size
Investors can bid for a minimum of 102 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1 | ₹14,892 |
| Retail (Max) | 13 | 1,326 | ₹193,596 |
| S-HNI (Min) | 14 | 1,428 | ₹208,488 |
| S-HNI (Max) | 67 | 6,834 | ₹997,764 |
| B-HNI (Min) | 68 | 6,936 | ₹1,012,656 |
LCC Projects Financial Information (Restated Consolidated)
LCC Projects Ltd.'s revenue increased by 24% and profit after tax (PAT) rose by 28% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 2,447.54 | 1,727.46 | 1,129.99 |
| Total Income | 3,639.45 | 2,941.01 | 2,449.79 |
| Profit After Tax | 286.44 | 223.63 | 122.00 |
| EBITDA | 519.90 | 401.04 | 241.37 |
| NET Worth | 888.41 | 604.99 | 382.83 |
| Reserves and Surplus | 752.41 | 468.99 | 348.83 |
| Total Borrowing | 860.65 | 649.55 | 422.30 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 32.24% |
| ROCE (Return on Capital Employed) | 27.13% |
| Debt/Equity | 0.97 |
| RoNW (Return on Net Worth) | 32.24% |
| PAT Margin (Profit After Tax Margin) | 7.96% |
| EBITDA Margin | 14.44% |
| Price to Book Value | 4.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 10.53 | 9.89 |
| P/E (x) | 13.87 | 14.76 |
Company Overview
LCC Projects Limited – Company Overview
- LCC Projects Limited was incorporated in 2017 and provides Engineering, Procurement and Construction (EPC) services primarily in the irrigation and water supply projects segment.
- The company undertakes a wide range of irrigation and water supply projects, including the construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, and water supply schemes.
- As of March 31, 2026, the company's order book comprised 103 projects.
- The top three projects in its order book include the Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi-Village Scheme, and Gandhi Sagar 1 Multi-Village Scheme.
- The company has previously executed notable projects such as the Tawa Left Bank Canal Project, Parbati Dam Project, Dudhai Sub Branch Canal Project, and AKOT Lift Irrigation Scheme.
- The company expanded its geographical presence from 8 states to 12 states, with operations across Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Andhra Pradesh, Himachal Pradesh, and Haryana as of March 31, 2026.
- Its projects cater to the development of irrigation infrastructure and water supply systems across multiple states in India.
- As of March 31, 2026, the company had 2,093 permanent employees.
Use of Proceeds
| 1) | Purchase of equipment | 14.69 |
| 2) | Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by Company | 180.00 |
| 3) | General corporate purposes | |
| Total | 194.69 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
LCC Projects IPO Peer Comparison
LCC Projects peer comparison with similar listed entities. (As on March 31, 2026)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| LCC Projects | 10.42 | 10.42 | 32.66 | - | 32.24 | - | - |
| Vishnu Prakash R Punglia | -12.04 | -12.04 | 50.54 | - | - | - | - |
| Enviro Infra Engineers | 10.42 | 10.41 | 70.23 | 19.14 | 15.28 | - | - |
Quick Info
| Sector | infrastructure construction and engineering |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹4,229.20 Cr |
Important Dates
| IPO Open | Sep 09, 2026 |
| IPO Close | Sep 11, 2026 |
| Allotment Date | Sep 15, 2026 |
| Credit to Demat | Sep 16, 2026 |
| Listing Date | Tentative: Sep 17, 2026 |
Lead Manager(s)
Motilal Oswal Investment Advisors Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹427.14 crores.
- Issue Structure: The issue is a combination of a fresh issue of 1.77 crore shares aggregating to ₹258.00 crores and an offer for sale of 1.16 crore shares aggregating to ₹169.14 crores.
- IPO Dates: The issue opens for subscription on September 9, 2026 and closes on September 11, 2026.
- Allotment Date: The allotment is expected to be finalized on September 15, 2026.
- Listing Details: The shares are proposed to be listed on NSE and BSE on September 17, 2026.
- Retail Investment Requirement: Minimum 1 lot (102 shares) amounting to approximately ₹14,892 at the upper price band.
- Issue Price Band: ₹139 to ₹146 per equity share.
- Lot Size: 102 shares per lot.
This IPO offers investors an opportunity to participate in the company through a combination of a fresh issue of shares and an offer for sale by existing shareholders.