LCC Projects IPO 2026: Price Band, GMP, Subscription, Financials & Key Details

LCC Projects IPO is a Mainboard IPO of ₹427.14 Cr that opens for subscription on 9th September 2026 and closes on 11th September 2026. The IPO comprises a fresh issue of ₹258 Cr and an Offer for Sale (OFS) of ₹169.14 Cr.

The LCC Projects IPO price band has been fixed at ₹139 to ₹146 per share. The minimum lot size is 102 shares, requiring a minimum investment of ₹14,892 for retail investors at the upper price band.

LCC Projects Limited is a Gujarat-based Engineering, Procurement and Construction (EPC) company focused on irrigation and water supply projects. Its project portfolio includes dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works and water supply schemes.

The company is proposed to be listed on BSE and NSE on 17th September 2026.

This article covers LCC Projects IPO details, GMP, subscription status, lot size, IPO timeline, financial performance, key financial ratios, valuation, peer comparison, competitive strengths, risks and other important information for investors.

LCC Projects IPO Details

LCC Projects IPO GMP

The LCC Projects IPO GMP today is ₹26 as of 8th September 2026.

At the upper price band of ₹146, the current GMP of ₹26 indicates an estimated listing price of ₹172 per share. This represents an indicative gain of around 17.81% over the upper IPO price.

LCC Projects IPO GMP Trend

The GMP increased from ₹17 on 4th September to ₹25 on 5th September and remained at ₹26 on 8th September.

Note: GMP is an unofficial indicator and can change before the actual listing. It should not be considered a guaranteed listing gain.

LCC Projects IPO Subscription Status

The LCC Projects IPO will open for subscription on 9th September 2026. Therefore, the subscription figures are currently not available.

The subscription data will be updated once bidding starts.

LCC Projects IPO Day-wise Subscription Trend

What is the Current Subscription Data for LCC Projects IPO?

Since the IPO is yet to open, the current subscription data for LCC Projects IPO is not available.

The final subscription level can provide an indication of investor demand, but subscription numbers alone should not be considered sufficient for making an investment decision.

LCC Projects IPO Timeline

LCC Projects IPO Lot Size

The LCC Projects IPO lot size is 102 shares.

At the upper price band of ₹146, retail investors need to invest ₹14,892 for one lot.

LCC Projects IPO Reservation

The IPO reservation for different investor categories is as follows:

What is LCC Projects?

LCC Projects Limited was incorporated in 2017 and is a multidisciplinary Engineering, Procurement and Construction (EPC) company focused primarily on irrigation and water supply projects.

The company undertakes projects involving the construction and development of:

• Dams
• Barrages
• Weirs
• Hydraulic structures
• Canals
• Pipe distribution networks
• Lift irrigation works
• Water supply schemes
• Other EPC projects

The company expanded its presence from 8 states in FY22 to 11 states by September 30, 2024.

Its geographical presence includes Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Himachal Pradesh and Haryana.

The company had 1,788 permanent employees as of the six months ended September 30, 2024.

LCC Projects IPO Objectives

The company proposes to use the proceeds from the fresh issue for the following purposes:

A major portion of the fresh issue proceeds will therefore be used for prepayment or repayment of outstanding borrowings.

LCC Projects Financial Performance

The company has reported strong growth in revenue, EBITDA and profitability over the last three financial years.

₹ Crore
 

LCC Projects Key Financial Ratios

LCC Projects reported an ROE of 32.24% and RoNW of 32.24% in FY26.
The company's PAT margin improved from 7.66% in FY25 to 7.96% in FY26, while EBITDA margin increased from 13.74% to 14.44%.

LCC Projects IPO Valuation

At the upper price band of ₹146 per share, LCC Projects has a market capitalisation of approximately ₹4,229.20 Cr.

The post-IPO P/E of LCC Projects is 14.76x based on the supplied valuation figures.
Investors should compare this valuation with the company's earnings growth, profitability, order book, debt position and industry peers.

LCC Projects IPO Peer Comparison

LCC Projects operates in the infrastructure and water-management space and can be compared with listed companies such as Enviro Infra Engineers and Vishnu Prakash R Punglia.

Based on the supplied figures, LCC Projects has a higher RoNW compared with Enviro Infra Engineers.

The EPS figures in this peer comparison may differ from the EPS figures used in the IPO valuation section because the respective calculations can be based on different reporting periods or methodologies.

Competitive Strengths of LCC Projects

1. Established EPC Capabilities

LCC Projects has experience in executing irrigation and water supply EPC projects since its incorporation in 2017.

2. Diversified Project Portfolio

The company's portfolio includes dams, canals, hydraulic structures, lift irrigation projects and water supply schemes.

3. Strong Order Book

The company had 68 projects in its order book as of September 30, 2024, providing visibility for future execution.

4. Presence Across Multiple States

The company has expanded its geographical presence to 11 states, reducing dependence on a single geographic market.

5. Strong Financial Growth

LCC Projects recorded approximately 24% growth in total income and 28% growth in PAT in FY26.

6. Debt Repayment Through IPO Proceeds

The company proposes to utilise ₹180 Cr towards repayment or prepayment of certain outstanding borrowings.

Risks Investors Should Consider

1. High Borrowings

The company reported borrowings of ₹860.65 Cr in FY26, making debt management an important consideration.

2. EPC Execution Risk

Large EPC projects can face delays because of procurement, approvals, labour availability, weather conditions and other execution-related factors.

3. Working Capital Requirements

EPC projects can require significant working capital during execution, which may impact operating cash flows.

4. Project Execution Risk

Delays, cost overruns or other issues in large projects could affect revenue and profitability.

5. Dependence on New Orders

Future growth will depend on the company's ability to secure new projects and execute its existing order book successfully.

6. OFS Component

The IPO includes an OFS of ₹169.14 Cr. The proceeds from the OFS will go to the selling shareholders rather than the company.

Should You Invest in LCC Projects IPO?

The company has reported strong financial growth, with total income rising to ₹3,639.45 Cr and PAT reaching ₹286.44 Cr in FY26. Its ROE and RoNW stood at 32.24%, while the company had 68 projects in its order book as of September 30, 2024.

The proposed use of ₹180 Cr towards repayment/prepayment of borrowings is another positive factor that could help strengthen the company's balance sheet.

However, investors should also consider the company's ₹860.65 Cr borrowings, EPC execution risks, working capital requirements and dependence on project execution and future order inflows.

At the upper price band of ₹146, LCC Projects is valued at approximately ₹4,229.20 Cr, with a reported post-IPO P/E of 14.76x.

Investors should evaluate the IPO based on the company's financial performance, order book, debt position, valuation and long-term business prospects rather than relying solely on GMP or expected listing gains.

LCC Projects IPO Allotment Status

The LCC Projects IPO allotment status is expected to be finalised on 15th September 2026.

After the basis of allotment is finalised, investors can check whether they have received shares through the IPO registrar.

How to Check LCC Projects IPO Allotment Status?

Investors can follow these steps:

• Visit the KFin Technologies IPO allotment website.
• Select LCC Projects IPO.
• Choose the relevant application option.
• Enter PAN, application number or other required details.
• Submit the details.

The allotment status will appear on the screen.

Investors can also check their bank account for refund details and demat account for the credit of allotted shares.

LCC Projects IPO Registrar

• KFin Technologies Limited is the registrar of the LCC Projects IPO.
• Address:
  Plot No. 31 & 32, Financial District, Nanakramguda, Serilingampally
• Website: ipostatus.kfintech.com
• Phone: 040-79615565
• Email: lccpl.ipo@kfintech.com

LCC Projects IPO Lead Manager

Motilal Oswal Investment Advisors Limited is the lead manager of the LCC Projects IPO.

LCC Projects Company Details

LCC Projects IPO Summary

LCC Projects IPO is a ₹427.14 Cr Mainboard IPO comprising a fresh issue of ₹258 Cr and an OFS of ₹169.14 Cr.

The IPO price band is fixed at ₹139–₹146 per share, with a lot size of 102 shares. Retail investors need a minimum investment of ₹14,892.

The company operates in the irrigation and water supply EPC segment and had 68 projects in its order book as of September 30, 2024.

LCC Projects reported ₹3,639.45 Cr total income and ₹286.44 Cr PAT in FY26, while its market capitalisation at the upper price band is estimated at ₹4,229.20 Cr.

The IPO will open on 9th September 2026 and close on 11th September 2026, with the shares scheduled to list on 17th September 2026.

Frequently Asked Questions (FAQs)

When will LCC Projects IPO open?

LCC Projects IPO will open for subscription on 9th September 2026.

When will LCC Projects IPO close?

The IPO will close on 11th September 2026.

What is the LCC Projects IPO price band?

The price band is ₹139 to ₹146 per share.

What is the LCC Projects IPO issue size and  fresh issue size?

The total issue size is ₹427.14 Cr and fresh issue is worth ₹258 Cr..

 What is the LCC Projects IPO lot size and minimum investment?

The IPO lot size is 102 shares and the minimum retail investment is ₹14,892 at the upper price band..

What is the LCC Projects IPO GMP today?

The reported GMP is ₹26 per share as of 8th September 2026.

What is the estimated listing price of LCC Projects IPO?

Based on the GMP of ₹26 and the upper price band of ₹146, the estimated listing price is ₹172 per share.

What is the market cap of LCC Projects after IPO?

The market capitalisation at the upper price band is approximately ₹4,229.20 Cr.

What is the LCC Projects IPO P/E ratio?

The reported post-IPO P/E is approximately 14.76x.

When will LCC Projects IPO allotment be finalised?

The basis of allotment is expected to be finalised on 15th September 2026.

When will LCC Projects IPO shares be listed?

The shares are scheduled to be listed on 17th September 2026.

Who is the registrar of LCC Projects IPO?

KFin Technologies Limited is the registrar.

Who is the lead manager of LCC Projects IPO?

Motilal Oswal Investment Advisors Limited is the lead manager.

Disclaimer

The information provided in this article is for educational and informational purposes only and should not be considered investment advice, financial advice or a recommendation to apply for the LCC Projects IPO.
 

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.