LCC Projects IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.14x | 1.16x | 78.73x |
| NII | 1.72x | 5.33x | 64.91x |
| bNII > ₹10L | 2.00x | 4.20x | 61.53x |
| sNII 2-10L | 1.17x | 7.58x | 71.66x |
| Retail | 1.26x | 4.69x | 26.34x |
| Total | 1.32x | 3.84x | 49.57x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 2,449.79 | 2,941.01 | 3,639.45 |
| Expense | 2,241.87 | 2,647.56 | 3,260.12 |
| Profit (PAT) | 122.00 | 223.63 | 286.44 |
| Total Assets | 1,129.99 | 1,727.46 | 2,447.54 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| LCC Projects This IPO | 10.42 | - | 32.24 | 32.66 | - |
| Vishnu Prakash R Punglia Limited | -12.04 | - | - | 50.54 | 851.20 Cr |
| Enviro Infra Engineers Limited | 10.42 | 19.14 | 15.28 | 70.23 | 1,145.60 Cr |
Strengths & Risks
- Heavily oversubscribed — 49.6x overall (so far).
- Strong institutional (QIB) demand — 78.7x.
- Revenue grew 24% in the latest reported year.
- Strong return on equity — 32%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
Our data checks haven't flagged a specific concern for LCC Projects — but that isn't a clean bill of health. Read the risk-factors section of the RHP, which lists company-specific risks our data can't capture.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About LCC Projects
LCC Projects, founded in 2017, is an engineering, procurement, and construction (“EPC”) firm that works mainly on irrigation and water supply projects. Its projects include construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other EPC projects. As of September 2024, the firm has completed 68 projects, of which the Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi–Village Scheme, and Gandhi Sagar 1 Multi-Village Scheme are the top three. Moreover, LCC has also completed various notable projects such as the construction of the Tawa Left Bank Canal, Parbati Dam Project, Dudhai Sub Branch Canal Project, and AKOT Lift Irrigation Scheme. In FY22, the firm was operating in 8 states, and by FY24, it had expanded to 11 states: Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Himachal Pradesh, and Haryana.
Company Contact Information
LCC Projects Ltd., ‘B’ Wing,15th Floor, Privilon Building,, Vikram Nagar AmbliBopal Road,, Behind ISKCON Temple,, Ahmedabad, Gujarat, 380058
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Purchase of equipment. | 14.91 |
| Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company. | 220.00 |
| General corporate purposes. | - |
Resources & Documents
Anchor Investors
LCC Projects IPO - Quick Take
LCC Projects has set a price band of Rs 139–Rs 146 per share for an issue size of Rs 427 crore. The stock listed with a 31.44% gain versus its issue price on September 17, 2026.
The issue is promoted by Arjan Suja Rabari, Laljibhai Arjanbhai Ahir and Maya Arjan Rabari with Motilal Oswal Investment Advisors Ltd. acting as lead manager. Net proceeds will primarily be used towards purchase of equipment (Rs 15 crore) and prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Co… (Rs 220 crore).
On fundamentals, the company is posting revenue growth of 23.8%, a profit margin of 7.9%, return on equity of 32.2% in its most recent reported period. Listed peers in this segment include Enviro Infra Engineers Limited (P/E 19.14x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read strong — the composite picture tilts positive, though not without some caveats. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
LCC Projects IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 23.3%. Of the 24 Mainboard IPOs we have tracked with a final GMP between 10% and 25%, 22 listed above, 1 flat and 1 below the issue price; LCC Projects listed 31.4% above its issue price.
See the full LCC Projects GMP history and trend, or learn how grey market premium works and how reliable it is.
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