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LCC Projects IPO Oversubscribed on Day 1
9 Sep
Summary
- LCC Projects IPO subscribed 1.32 times on opening day.
- The company aims to raise funds for debt repayment and equipment.
- Over two decades of experience in irrigation and water supply projects.
The initial public offer (IPO) of LCC Projects garnered substantial attention on its opening day, September 8, 2026, achieving a subscription rate of 1.32 times. Investors bid for 2.76 crore shares against the 54.43 lakh shares available, indicating strong market confidence in the company.
The IPO, which opened for subscription on September 9, 2026, and will close on September 11, 2026, is priced between Rs 139 and Rs 146 per share. LCC Projects intends to use the net proceeds, estimated at Rs 258 crore from its fresh issue, to prepay outstanding borrowings worth Rs 180 crore and acquire equipment for Rs 14.69 crore.
LCC Projects, a multidisciplinary engineering, procurement, and construction (EPC) company, boasts over two decades of experience, particularly in irrigation and water supply projects. As of March 31, 2026, the company's order book stood at Rs 7,953.18 crore, highlighting its significant project pipeline and future revenue potential.
Prior to the public offering, LCC Projects successfully raised Rs 128.14 crore from anchor investors on August 8, 2026, by allotting 87.76 lakh shares at Rs 146 each. For the fiscal year ending March 31, 2026, the firm reported a consolidated net profit of Rs 286.57 crore on sales of Rs 3,600.25 crore.
