LCC Projects IPO subscribed 1.32 times

The offer received bids for 2.76 crore shares as against 54.43 lakh shares on offer.

The initial public offer of LCC Projects received bids for 2,76,92,184 shares as against 54,43,229 shares on offer, according to stock exchange data at 17:00 IST on 8 September 2026. The issue was subscribed 1.32 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 139 and 146 per share. An investor can bid for a minimum of 102 equity shares and multiples thereof.

The offer comprises a fresh issue of equity shares of Rs 5 each aggregating to Rs 258 crore and an offer for sale of 11585000 equity shares. The OFS component is entirely by promoters.

Of the net proceeds from fresh issue, the company intends to use Rs 180 crore towards prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the company; Rs 14.691 crore towards purchase of equipment; and balance towards general corporate purposes.

LCC Projects, promoted by Arjan Suja Rabari and Laljibhai Arjanbhai Ahir, is a multidisciplinary engineering, procurement and construction (EPC) company primarily engaged in irrigation and water supply projects, with over two decades of experience in executing dams, barrages, weirs, canals, hydraulic structures, pipe distribution networks, lift irrigation and water supply schemes. The company has also undertaken projects in metro rail, mining and renewable energy and plans to diversify into solar and wind power, wastewater management, desalination, railways, sewerage and O&M projects. It recently established a manufacturing unit at Jaspur, Gujarat, for precast concrete solutions. Irrigation and water supply projects contributed 87.44% of revenue in FY26, while government departments accounted for 89.34% of revenue. As of 31 March 2026, its order book stood at Rs 7,953.18 crore across 103 projects, with irrigation and water supply projects accounting for 83.26% and government customers for 79.07% of the order book.

Ahead of the IPO, LCC Projects on Tuesday, 8 August 2026, raised Rs 128.14 crore from anchor investors. The board allotted 87.76 lakh shares at Rs 146 each to 11 anchor investors.

The firm reported a consolidated net profit of Rs 286.57 crore and sales of Rs 3,600.25 crore for the twelve months ended on 31 March 2026.

Powered by Capital Market - Live News