LCC Projects IPO
Infrastructure Developers & Operators • ₹427.14 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Working capital or debt pressure highlighted in DRHP
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹146
Lot Size
102 shares
Issue Size
₹427.14 Cr
Open
09 Sept 2026
Close
11 Sept 2026
Subscription
20.6×
IPO Schedule
| Issue Open Date | 09 Sept 2026 |
| Issue Close Date | 11 Sept 2026 |
| Allotment Date | 15 Sept 2026 |
| Listing Date | 16 Sept 2026 |
About LCC Projects
LCC Projects is a multidisciplinary engineering, procurement and construction (EPC) company primarily engaged in irrigation and water supply projects. The company undertakes projects including dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, and water supply schemes. The company has also executed a metro rail project involving the construction of a station, approaches and viaducts, and is currently executing a mining development and operations project. As of FY26, its order book comprised 103 projects. LCC Projects operates across 12 states in India and has experience in executing projects across varied geographical and terrain conditions. The company has also established a manufacturing unit in Jaspur, Gujarat, for producing precast concrete elements used in infrastructure and construction projects. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Purchase of equipment — Rs 14.69 crore Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company — Rs 180 crore General corporate purposes
Company Details
Founders / Promoters
Mr Arjan Suja Rabari
Founded
2017
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
LCC Projects — IPOFins Verdict
QuantitativeDriven by QIB demand at 7.4x and elevated disclosed risk (7/10), LCC Projects listed at a premium of 29.5% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company claims to have developed expertise in executing irrigation and water supply projects across India. Revenue from these projects stood at Rs 3,148.22 crore (87.44%) in FY26, Rs 2,709.29 cror
- The company’s order book increased from Rs 6,268.97 crore as of FY24 to Rs 7,882.17 crore as of FY25 and Rs 7,953.18 crore as of FY26. As of March 31, 2026, its order book comprised 103 projects acros
- The RHP says the company has an in-house design and engineering team comprising 698 qualified engineers and technical personnel as of July 31, 2026. The team supports site assessment, hydraulic and st
- The company claims to follow structured risk management and project selection processes across the project lifecycle. It evaluates customer, project, operational, and execution risks before bidding an
- The company reported stable Return on Capital Employed (ROCE) of 27.13%, 27.64%, and 27.63% in FY26, FY25, and FY24, respectively, while Return on Equity (ROE) stood at 32.24%, 36.96%, and 31.87% in t
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score +1.0
Strong retail interest → score +0.5
Actual listing outcome → score +1.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹146
Listing Price
₹189
Listing Gain/Loss
+29.45%
Listing Date
16 Sept 2026
Price Since Listing
Returns are measured against the ₹146 issue price.
Listing
₹189
+29.5%
1 Week
₹146.59
+0.4%
Current
₹149.35
+2.3%
Want to buy this stock?
Trade LCC Projects on the secondary market
FAQ
What is the price band of LCC Projects IPO?
The price band is ₹146 per share with a lot size of 102 shares. Minimum investment: ₹14,892.
What does LCC Projects do?
LCC Projects is a multidisciplinary engineering, procurement and construction (EPC) company primarily engaged in irrigation and water supply projects. The company undertakes projects including dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, and water supply schemes. The company has also executed a metro rail project involving the construction of a station, approaches and viaducts, and is currently executing a mining development and operations project. As of FY26, its order book comprised 103 projects. LCC Projects operates across 12 states in India and has experience in executing projects across varied geographical and terrain conditions. The company has also established a manufacturing unit in Jaspur, Gujarat, for producing precast concrete elements used in infrastructure and construction projects. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Purchase of equipment — Rs 14.69 crore Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company — Rs 180 crore General corporate purposes
Should I apply for LCC Projects IPO?
LCC Projects listed at ₹189 (+29.5% premium to the ₹146 issue price) after 20.6x subscription. IPOFins Score 7/10: Driven by QIB demand at 7.4x and elevated disclosed risk (7/10), LCC Projects listed at a premium of 29.5% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded LCC Projects?
LCC Projects was founded by Mr Arjan Suja Rabari in 2017.