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LCC Projects IPOLISTED

NSE, BSEMainboardBook Built Issue

LCC Projects Limited provides EPC services for irrigation and water supply projects, including dams, canals, lift irrigation systems and water supply schemes.

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Listing price

₹189

Listing gain

+29.45%

Current

₹189

Listed

17 Sept 26

Opens

09 Sept 26

Closes

11 Sept 26

Allotment

15 Sept 26

Refund

16 Sept 26

Demat

16 Sept 26

Listing

17 Sept 26

Listed at

₹189

+29.45% on 17 Sept 26

Min. investment₹14,892

GMP₹35 · +24.0%

Subscribed49.57x

Track in the app

Overview

Price band

₹139-146

Lot size

102 shares

Min. investment

₹14,892

Issue size

₹427.14 Cr

2.93 Cr shares

Fresh issue

₹258 Cr

1.77 Cr shares

Offer for sale

₹169.14 Cr

1.16 Cr shares

Face value

₹5 / share

Issue type

Book Built Issue

Listing at

NSE, BSE

Reservation

Anchor Investor 29%QIB 20%B-HNI 10%S-HNI 5%Individual 35%

Category	Shares offered	% of issue
Anchor Investor	87,76,869	29%
QIB	58,51,247	20%
NII (HNI)	43,88,435	15%
B-HNI	29,25,623	10%
S-HNI	14,62,812	5%
Individual	1,02,39,681	35%
Total	2,92,56,232	99%

Lot size & investment

Application	Lots	Shares	Amount
Retail (Min)	1	102	₹14,892
Retail (Max)	13	1,326	₹1,93,596
S-HNI (Min)	14	1,428	₹2,08,488
S-HNI (Max)	67	6,834	₹9,97,764
B-HNI (Min)	68	6,936	₹10,12,656

Listing performance

NSE/BSE: LCCPROJECT

Listing gain

+29.45%

Gain per retail lot

₹4,386

Latest vs issue

—

GMP was

₹35 (+23.97%)

₹146

₹181+23.97%

₹189+29.45%

Issue price

GMP estimate

Listing price

Latest price appears here during market hours.

LCC Projects Live GMP

GMP₹35

Est. Price₹181

Est. Gain23.97%

Latest GMP

₹35

All-time high

₹78

All-time low

₹34

GMP × retail lot ₹3,570GMP × S-HNI min ₹49,980Expected listing ~ ₹181GMP is unofficial and changes often. Data as of 11 Sept, 11:00 pm.

Subscription

11 Sept, 11:00 pm

Oversubscribed 49.57 times · 25,13,032 applications

QIB

78.73x

NII (HNI)

64.91x

S-HNI

71.66x

B-HNI

61.53x

Retail

26.34x

Total

49.57x

Total applications

25,13,032

Total bid amount

₹14,822 Cr

Category breakdown

Category	Shares offered	Shares bid	Times	Bid amount
QIB	58,51,247	46,06,57,806	78.73x	₹6,726 Cr
NII (HNI)	43,88,435	28,48,56,624	64.91x	₹4,159 Cr
B-HNI	29,25,623	18,00,27,960	61.53x	₹2,628 Cr
S-HNI	14,62,812	10,48,28,664	71.66x	₹1,530 Cr
Retail	1,02,39,681	26,97,18,192	26.34x	₹3,938 Cr
Total	2,04,79,363	1,01,52,32,622	49.57x	₹14,822 Cr

Application-wise breakup

Category	Applications reserved	Applied	Times
B-HNI	2,049	24,923	12.16x
S-HNI	1,024	71,776	70.09x
Retail	1,00,389	24,07,594	23.98x

Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).

Financials

(₹ in crores)

Key performance indicators

As of 31 Mar 2026

ROE

32.24%

PAT Margin

7.96%

ROCE

27.13%

EBITDA Margin

14.44%

Debt to Equity Ratio

0.97

Price to Book Value

4.47

RoNW

32.24%

Valuation vs listed peers

EPS Pre IPO

₹10.53

EPS Post IPO

₹9.89

P/E Pre IPO

13.87

P/E Post IPO

14.76

Price-to-earnings

LCC Projects (post-issue)

14.76×

Enviro Infra Engineers Limited

19.14×

Company	P/E	P/B	RoNW	Face value
Vishnu Prakash R Punglia Limited	—	—	—	—
Enviro Infra Engineers Limited	19.14	—	—	—

Peer median P/E 19.1× · Ratios as disclosed in the offer document.

Buzz AI analysis

From this IPO's filings and market data · educational, not investment advice

Revenue growth FY24 → FY26

+48.6%

Profit growth FY24 → FY26

+134.8%

P/E vs peer median

14.8× vs 19.1×

PAT margin 8.0% and ROCE 27.1%.
Priced below its listed-peer median P/E.

Strengths & risks

Strong Order Book of ₹7,953.18 crore across 103 projects.
Diversified Projects across irrigation, water supply, metro and mining.
Experienced Execution with over two decades of industry experience.
Expanding Presence across 12 states.

6.8/10

Buzz score · Solid

From GMP, subscription and issue size

Financials7.1

Growth6.3

Business6.8

Demand8.7

Risk7.2

Objects of the issue

Purpose	Amount (₹ Cr)
Purchase of equipment.	14.69
Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by Company.	180
General corporate purposes.	-

Company & documents

LCC Projects Limited is a multidisciplinary engineering, procurement and construction (“EPC”) company primarily focused on irrigation and water supply projects. With over two decades of experience, the company has executed projects involving dams, canals, lift irrigation, water supply schemes, pipe networks and other EPC works. It also undertakes projects in wastewater treatment, roads, highways, mining and metro rail infrastructure.

As of March 31, 2026, the company had an Order Book of ₹7,953.18 crore across 103 projects, led by the Sondwa Lift Micro Irrigation, Sidhi Bansagar Multi-Village and Gandhi Sagar 1 Multi-Village projects.

The company has executed notable projects such as the Tawa Left Bank Canal, Parbati Dam, Dudhai Sub Branch Canal and AKOT Lift Irrigation Scheme. It has also undertaken metro rail and mining development (MDO) projects.

The company has expanded its geographical presence from 10 states in Fiscal 2024 to 12 states as of March 31, 2026, namely Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Andhra Pradesh, Himachal Pradesh and Haryana.

As of March 31, 2026, the company had 2,093 permanent employees, including 1,130 technical employees, 422 employees in plant and machinery, 266 in human resources, 183 in purchase and stores, and 92 in finance and accounts.

Registrar

Kfin Technologies Ltd.

Phone: 040-79615565

Email: lccpl.ipo@kfintech.com

Web: https://ipostatus.kfintech.com/

Company contact

LCC Projects Ltd.

‘B’ Wing,15th Floor, Privilon Building, Vikram Nagar AmbliBopal Road, Behind ISKCON Temple, Ahmedabad, Gujarat, 380058

Phone: +91 79 4848 4453

Email: cs@lccprojects.com

Web: https://www.lccprojects.com/

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