LCC Projects Ltd. (Mainboard) IPO
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.
IPO GMP
+₹36
+25% expected gain
Price Band
₹146
Lot Size
102 shares
Min Investment
₹14,892
Listing Date
September 17, 2026
About LCC Projects Ltd. (Mainboard)
Company overview, business, and key facts.
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.
Founded
2017
Headquarters
Ahmedabad, Gujarat
Promoters
Arjan Suja Rabari, Laljibhai Arjanbhai Ahir, Maya Arjan Rabari
Website
https://www.lccprojects.com/
IPO Details
Subscription Status
How many times each investor category has bid for the issue.
Financials
Restated summary financials for the most recent periods.
Figures are indicative and restated for presentation.
LCC Projects Ltd. (Mainboard) IPO Key Numbers
Calculated by IPOLyst from the published offer-document data. These are figures, not buy or sell calls.
Market cap at upper band
₹4,229.2 Cr
Post-IPO shares × upper price band
P/E on 2026 profit
14.8x
Peer median 19.1x (discount of 22.5%)
Price to sales
1.16x
Revenue growth, 2026
+23.7%
21.9% a year over the period
Profit growth, 2026
+28.1%
53.2% a year over the period
Profit margin (PAT)
7.9%
EBITDA margin 14.44%
ROE / ROCE
32.24% / 27.13%
As published in the offer document
Debt to equity
0.97
Promoter holding
100% → 89.9%
Before → after the IPO
Issue mix
60.4% fresh / 39.6% sale
Fresh issue goes to the company, offer for sale to selling shareholders
GMP-implied gain per lot
₹3,672
102 shares on ₹14,892. GMP is unofficial.
What stands out
- Profit grew 28.1% in 2026.
- Priced at a 22.5% discount to the peer median P/E of 19.1.
Watch-outs
- 92.5% of the disclosed use of proceeds is debt repayment.
- 1 use-of-proceeds item(s) have no disclosed amount.
- GMP has fallen 50% from its peak of ₹72 to ₹36.
Scenarios apply today's grey market premium figures to the upper price band. They are illustrations, not predictions. GMP is unofficial and can be wrong.
Not yet available for this IPO: published risk factors.
IPO Analysis SummaryAI-generated
A plain-language review of LCC Projects Ltd. (Mainboard)'s financials, valuation and demand, based only on the verified figures above. For information only. It does not recommend whether to apply.
LCC Projects Ltd. (Mainboard) IPO Review
Analysis based on live GMP, subscription, and issue details.
As of today, LCC Projects Ltd. (Mainboard) IPO is trading at a grey market premium (GMP) of +₹36 (+25% estimated listing gain), indicating positive market sentiment.
The IPO has been subscribed 20.58x overall — QIB: 7.37x, NII: 42.56x, Retail: 18.48x.
LCC Projects Ltd. (Mainboard) IPO subscription has closed. The shares are expected to list on September 17, 2026.
The minimum investment required is ₹14,892 for 102 shares (1 lot). Retail investors can apply at cut-off price for the best chance of allotment.
Disclaimer: IPO GMP is indicative and sourced from the grey market. This is not investment advice. Please consult a SEBI-registered advisor before investing.
LCC Projects Ltd. (Mainboard) IPO — Frequently Asked Questions
What is LCC Projects Ltd. (Mainboard) IPO GMP today?
LCC Projects Ltd. (Mainboard) IPO GMP (grey market premium) today is +₹36, suggesting an estimated listing gain of +25%. GMP is indicative and subject to change.
What is the price band of LCC Projects Ltd. (Mainboard) IPO?
The price band for LCC Projects Ltd. (Mainboard) IPO is ₹146 with a lot size of 102 shares. The minimum investment required is ₹14,892.
When is LCC Projects Ltd. (Mainboard) IPO allotment date?
LCC Projects Ltd. (Mainboard) IPO allotment is expected to be finalised on September 15, 2026. You can check your allotment status on the registrar's website (Kfin Technologies Ltd.) using your PAN number.
When will LCC Projects Ltd. (Mainboard) IPO list on NSE/BSE?
LCC Projects Ltd. (Mainboard) IPO is expected to list on BSE, NSE on September 17, 2026.
How to check LCC Projects Ltd. (Mainboard) IPO allotment status?
To check LCC Projects Ltd. (Mainboard) IPO allotment status, visit the registrar's website (Kfin Technologies Ltd.) and enter your PAN number, application number, or DP/Client ID. You can also check on the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Should I apply for LCC Projects Ltd. (Mainboard) IPO?
LCC Projects Ltd. (Mainboard) IPO is showing a strong GMP of +₹36 (+25%), indicating positive market sentiment for listing gains. However, GMP is informal and not a guarantee of returns. Evaluate the company's fundamentals, price band, and your own risk appetite before applying. IPOLyst is not a SEBI-registered investment advisor — please do your own research.
What is the lot size of LCC Projects Ltd. (Mainboard) IPO?
The lot size for LCC Projects Ltd. (Mainboard) IPO is 102 shares per lot. The minimum investment for retail investors is ₹14,892. Retail investors can apply for a maximum of 13 lots or up to ₹2 lakh, whichever is lower.