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LCC Projects IPO Set for Big Debut Tomorrow!
17 Sep
Summary
- LCC Projects IPO listing scheduled for tomorrow, September 17.
- IPO subscribed 48.51 times, QIBs portion saw 78.69x subscription.
- Analysts suggest partial profit booking on listing day.
The Initial Public Offering (IPO) of LCC Projects is scheduled for its stock exchange debut on Thursday, September 17, at 10:00 IST. The company finalized its share allotment on Tuesday, September 15. Trading will commence in a special pre-open session on both the BSE and NSE.
The LCC Projects IPO garnered significant investor interest, being subscribed 48.51 times by the final bidding day. The Qualified Institutional Buyers (QIBs) segment was notably strong, subscribed 78.69 times, followed by Non-Institutional Investors (NIIs) at 62.99 times, and Retail Individual Investors (RIIs) at 25.56 times.
The IPO was priced within a band of ₹139 to ₹146 per share, valuing the company at approximately ₹427 crore at the upper end. Funds raised will be utilized for equipment purchases, debt repayment, and general corporate needs.
Despite strong subscription figures, analysts highlight risks associated with dependence on government projects and customer concentration. A grey market premium (GMP) of ₹44 suggests a cautious outlook, with fluctuations observed over the past 13 sessions. Experts recommend partial profit-taking on listing day, with potential for long-term gains based on the company's execution.
