LC
LCC Projects Limited IPO
EPC Services · Irrigation & Water Supply · Dams & Canals · Infrastructure
📋 Mainline IPO
Fresh + OFS
NSE, BSE
₹146
Upper Price
₹427.14 Cr
Issue Size
Sep 17, 2026
Listing Date
₹3,971.20 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Wednesday, 9 September 2026
Bidding starts — apply before close
🔒
IPO Closes
Friday, 11 September 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Tuesday, 15 September 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Wednesday, 16 September 2026
Unallotted funds returned; shares credited to demat
🏷️
Thursday, 17 September 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date9 September 2026 (Wed)
IPO Close Date11 September 2026 (Fri)
Listing Date17 September 2026 (Thu)
Face Value₹5 per share
Price Band₹139 to ₹146
Issue Price (Upper Band)₹146 per share
Issue TypeBook Build — Fresh + OFS
Lot Size102 shares
Total Issue Size2,92,56,232 shares (₹427.14 Cr)
Fresh Issue1,76,71,232 shares (₹258.00 Cr)
Offer for Sale (OFS)1,15,85,000 shares (₹169.14 Cr)
Pre-Issue Shares27,20,00,000
Post-Issue Shares28,96,71,232
Promoter Holding (Pre)100.00%
Market Cap (Pre-IPO)₹3,971.20 Cr
Listing ExchangeNSE, BSE
Lead ManagerMotilal Oswal Investment Advisors Ltd.
RegistrarKfin Technologies Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹146| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 1 | 102 | ₹14,892 |
| Retail — Maximum | 13 | 1,326 | ₹1,93,596 |
| S-HNI (sNII) — Min | 14 | 1,428 | ₹2,08,488 |
| S-HNI (sNII) — Max | 67 | 6,834 | ₹9,97,764 |
| B-HNI (bNII) — Min | 68 | 6,936 | ₹10,12,656 |
⚠️ Note: Investors can bid for a minimum of 102 shares and in multiples thereof. Retail individual investors can apply up to ₹2,00,000.
👥 Investor Reservation
Allocated portion of Net OfferNot more than 50%
QIB Portion
Not less than 35%
Retail Portion
Not less than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 2,447.54 | 1,727.46 | 1,129.99 |
| Total Income | 3,639.45 | 2,941.01 | 2,449.79 |
| PAT | 286.44 | 223.63 | 122.00 |
| EBITDA | 519.90 | 401.04 | 241.37 |
| Net Worth | 888.41 | 604.99 | 382.83 |
| Reserves & Surplus | 752.41 | 468.99 | 348.83 |
| Total Borrowing | 860.65 | 649.55 | 422.30 |
Income Growth
FY 2023–24₹2,449.79 Cr
FY 2024–25₹2,941.01 Cr
FY 2025–26₹3,639.45 Cr
🎯 Key Performance Indicators
32.24%
ROE
FY 2025–26
0.97
Debt/Equity
FY 2025–26
27.13%
ROCE
FY 2025–26
7.96%
PAT Margin
FY 2025–26
14.44%
EBITDA Margin
FY 2025–26
32.24%
RoNW
FY 2025–26
4.47x
Price/Book
FY 2025–26
32.66
NAV
FY 2025–26
⚖️ Valuation & EPS
Pre-IPO EPS
₹10.53
FY26 earnings + pre-issue shares
P/E: 13.87xPost-IPO EPS
₹9.89
FY26 earnings + post-issue shares
P/E: 14.76xPrice to Book Value
4.47x
At upper price band ₹146
Market Cap (Pre-IPO)
₹3,971.20 Cr
At issue price ₹146
ℹ️
Pre-IPO EPS (₹10.53) based on pre-issue shares (27,20,00,000) and FY26 earnings. Post-IPO EPS (₹9.89) accounts for the dilution resulting from the issuance of 1,76,71,232 fresh equity shares extending the total post-issue equity to 28,96,71,232 shares. Post-IPO Market Cap expands to ₹4,229.20 Cr at the issue price of ₹146.
🎯 Objects of the Issue
Net proceeds utilisation1
Purchase of equipment including dump trucks and excavators to support future project needs
₹14.69 Cr
2
Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by Company
₹180.00 Cr
3
General corporate purposes
Balance
Total Fresh Issue Goal
₹258.00 Cr
🏢 About LCC Projects Ltd.
Est. 2017 · Ahmedabad, Gujarat · EPC ServicesLCC Projects Limited, incorporated in 2017 and headquartered in Ahmedabad, is one of India’s leading multidisciplinary engineering, procurement, and construction (EPC) enterprises. The company operates predominantly within the critical irrigation and water supply infrastructure segment, commanding a significant market share through the execution of large-scale, complex state and central government projects.
LCC Projects specializes in the end-to-end construction of dams, barrages, weirs, hydraulic structures, extensive canal networks, pipe distribution grids, and advanced lift irrigation schemes. Expanding aggressively from 8 to 12 Indian states by FY26 (including Gujarat, MP, Rajasthan, and Maharashtra), the business maintains a massive active order book containing 103 projects. Noteworthy ongoing mega-developments include the Sondwa Lift Micro Irrigation Project and the Sidhi Bansagar Multi-Village Scheme, supported by a substantial workforce of over 2,000 permanent employees.
Brand Ecosystem
💧
Irrigation Infrastructure
Construction of dams, barrages, weirs, and advanced lift irrigation schemes across terrains
🚰
Water Supply Grids
End-to-end execution of multi-village water supply schemes and pipe distribution networks
📜
Massive Order Book
Maintaining an active pipeline of 103 heavy infrastructure projects securing significant revenue visibility
🌍
Pan-India Operations
Rapid geographic scaling executing high-value engineering contracts across 12 Indian states
Competitive Strengths
🏆Commanding market share positioning LCC among India’s leading multidisciplinary water infrastructure EPCs
⚙️Proven execution track record delivering landmark state projects like the Tawa Left Bank Canal and Parbati Dam
📈Exceptional financial velocity generating 24% revenue growth and ₹286.44 Cr in net profits during FY26
🛡️Deep strategic reliance and recurring mega-contracts secured consistently from state and central government bodies
Company Promoters
AR
Arjan Suja Rabari & Maya Arjan Rabari
Promoters, LCC Projects Ltd.
LA
Laljibhai Arjanbhai Ahir
Promoter, LCC Projects Ltd.
📅 Key Dates
IPO Opens09 Sep 2026
IPO Closes11 Sep 2026
Allotment15 Sep 2026
Refund & Share Credit16 Sep 2026
Listing Day17 Sep 2026
💡 Quick Summary
Price Band₹139 – ₹146
Upper Price₹146 / share
Lot Size102 shares
Min. Investment (Retail)₹14,892
Issue Size₹427.14 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Lead Manager
Motilal Oswal Investment Advisors Ltd.
📍 Registered Address
LCC Projects Ltd.
‘B’ Wing, 15th Floor, Privilon Building,
Vikram Nagar Ambli Bopal Road,
Behind ISKCON Temple, Ahmedabad, Gujarat — 380058
📞 +91 79 4848 4453
[email protected]
‘B’ Wing, 15th Floor, Privilon Building,
Vikram Nagar Ambli Bopal Road,
Behind ISKCON Temple, Ahmedabad, Gujarat — 380058
📞 +91 79 4848 4453
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️
Disclaimer: This overview is strictly structured per the requested IPO NEW FORMAT. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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