LCC Projects IPO: Check GMP, Issue Size, Key Dates, and other Details

9 Sep 2026 , 08:30 AM

LCC Projects IPO GMP today: The grey market premium (GMP) of the LCC Projects IPO has strengthened to ₹29 per share as of September 8, 2026, indicating an estimated listing price of around ₹175 against the upper IPO price band of ₹146. At the latest GMP, the issue is commanding a potential listing premium of nearly 19.86%.

The LCC Projects IPO is scheduled to open for subscription on September 9, 2026, and will remain open until September 11. The company is looking to raise approximately ₹427.14 crore through a combination of a fresh issue and an offer for sale (OFS).

The IPO has a price band of ₹139 to ₹146 per share, while the minimum application size for retail investors is 102 shares. At the upper end of the price band, investors will need to commit ₹14,892 for one lot.

The shares are proposed to list on both the NSE and BSE, with the tentative listing date set for September 17, 2026.

LCC Projects IPO GMP Today

The grey market sentiment surrounding LCC Projects has improved in recent sessions.

On September 8, the IPO’s GMP stood at ₹29, up from ₹25.50 on September 7. Based on the upper price band of ₹146, the latest GMP points to an estimated listing price of ₹175 per share, representing a potential gain of 19.86% over the issue price.

Here is the recent LCC Projects IPO GMP trend:

GMP Date	IPO Price	GMP	Estimated Listing Price	Estimated Premium
September 8, 2026	₹146	₹29	₹175	19.86%
September 7, 2026	₹146	₹25.50	₹171.50	17.47%
September 6, 2026	₹146	₹25	₹171	17.12%
September 5, 2026	₹146	₹25	₹171	17.12%
September 4, 2026	₹146	₹17	₹163	11.64%

The GMP has therefore climbed from ₹17 on September 4 to ₹29 on September 8, suggesting that unofficial market sentiment has strengthened ahead of the IPO opening.

However, GMP is an unofficial indicator and can change quickly depending on market conditions, demand and investor sentiment. It should not be treated as a guarantee of the actual listing price.

LCC Projects IPO: Key Details

LCC Projects is launching a book-built IPO worth approximately ₹427.14 crore. The issue comprises both fresh shares issued by the company and shares offered for sale by existing shareholders.

Particulars	Details
IPO Dates	September 9–11, 2026
Listing Date	September 17, 2026
Price Band	₹139–₹146
Face Value	₹5 per share
Lot Size	102 shares
Minimum Retail Investment	₹14,892
Issue Size	2,92,56,232 shares
Issue Value	Up to ₹427.14 crore
Fresh Issue	1,76,71,232 shares
Fresh Issue Size	Up to ₹258 crore
Offer for Sale	1,15,85,000 shares
OFS Size	Up to ₹169.14 crore
Listing	NSE, BSE
Issue Type	Bookbuilding
Lead Manager	Motilal Oswal Investment Advisors
Registrar	Kfin Technologies

LCC Projects IPO Price Band and Lot Size

The company has fixed the IPO price band at ₹139 to ₹146 per share. Investors can bid within this range during the three-day subscription period.

The IPO lot size is 102 shares. Therefore, a retail investor applying at the upper price of ₹146 would need to invest:

102 × ₹146 = ₹14,892

At the lower price of ₹139, the corresponding investment would be ₹14,178.

For investors looking at the IPO purely from the GMP perspective, a GMP of ₹29 at the upper price band implies a notional estimated listing price of ₹175.

That would translate into a potential gain of:

₹175 – ₹146 = ₹29 per share

For one retail lot of 102 shares, this works out to a notional gain of approximately ₹2,958, assuming the GMP translates into the actual listing price. This is only an estimate and actual listing performance can differ significantly.

What Does LCC Projects Do?

Incorporated in 2017, LCC Projects Ltd. operates in the engineering, procurement and construction (EPC) segment, with a particular focus on irrigation and water supply projects.

Its work covers a broad range of infrastructure activities, including dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation projects and water supply schemes.

The company’s business is therefore closely linked to public infrastructure and water-management projects, areas that require significant execution capabilities as well as the ability to manage large and often complex contracts.

LCC Projects Order Book

One of the key aspects investors may watch is the company’s order book.

As of March 31, 2026, LCC Projects had 103 projects in its order book. The three largest projects included the Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi-Village Scheme and Gandhi Sagar 1 Multi-Village Scheme.

The company has also executed several notable projects in the past, including the Tawa Left Bank Canal, Parbati Dam Project, Dudhai Sub Branch Canal Project and AKOT Lift Irrigation Scheme.

Its geographical footprint has also expanded. During FY2026, LCC Projects expanded its operations from eight states to 12 states, including Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Andhra Pradesh, Himachal Pradesh and Haryana.

As of March 31, 2026, the company had 2,093 permanent employees.

LCC Projects Financial Performance

LCC Projects reported growth in both revenue and profitability during FY2026.

The company’s total income increased from ₹2,941.01 crore in FY2025 to ₹3,639.45 crore in FY2026, representing growth of roughly 24%.

Profit after tax rose from ₹223.63 crore to ₹286.44 crore during the same period, an increase of approximately 28%.

Financial Metric	FY2026	FY2025	FY2024
Assets	₹2,447.54 Cr	₹1,727.46 Cr	₹1,129.99 Cr
Total Income	₹3,639.45 Cr	₹2,941.01 Cr	₹2,449.79 Cr
Profit After Tax	₹286.44 Cr	₹223.63 Cr	₹122.00 Cr
EBITDA	₹519.90 Cr	₹401.04 Cr	₹241.37 Cr
Net Worth	₹888.41 Cr	₹604.99 Cr	₹382.83 Cr
Reserves & Surplus	₹752.41 Cr	₹468.99 Cr	₹348.83 Cr
Total Borrowings	₹860.65 Cr	₹649.55 Cr	₹422.30 Cr

Figures in ₹ crore.

The financial numbers show that the company has delivered consistent growth over the three-year period. At the same time, borrowings have also increased, making the proposed use of IPO proceeds toward debt repayment an important factor to track.

How Will LCC Projects Use IPO Proceeds?

The company plans to use a substantial portion of the net proceeds for reducing its outstanding debt.

The stated objects of the issue include:

IPO Object	Amount
Purchase of equipment	₹14.69 crore
Repayment/prepayment of borrowings	₹180 crore
General corporate purposes	Balance
Total specified amount	₹194.69 crore

The proposed ₹180 crore debt repayment is the largest identified use of funds. This could help reduce the company’s interest burden and strengthen its balance sheet, although the eventual impact will depend on the company’s borrowing costs and future capital requirements.

LCC Projects IPO: Fresh Issue vs OFS

The IPO consists of two components.

The fresh issue comprises 1,76,71,232 shares, expected to raise up to ₹258 crore. Since these shares are newly issued, the proceeds from this portion will go to the company, subject to issue expenses and the stated objects.

The offer for sale consists of 1,15,85,000 shares, aggregating to approximately ₹169.14 crore. Proceeds from the OFS component will accrue to the selling shareholders rather than the company.

Overall, the issue comprises 2,92,56,232 shares.

LCC Projects IPO Listing Date

The LCC Projects IPO will open on September 9, 2026, and bidding will close on September 11.

The expected IPO timeline is:

• IPO opens: September 9, 2026
• IPO closes: September 11, 2026
• Allotment finalisation: September 15, 2026
• Shares credited/refunds: Expected around September 16, 2026
• Tentative listing: September 17, 2026
• Listing exchanges: NSE and BSE

The actual dates may be subject to applicable market and regulatory processes.

LCC Projects IPO GMP: What Should Investors Watch?

The rise in GMP ahead of the issue opening provides a positive signal from the unofficial market. The premium has moved from ₹17 on September 4 to ₹29 on September 8.

That said, GMP alone does not establish whether an IPO is attractive.

Investors should also consider the company’s order book, execution track record, profitability, debt levels, working-capital requirements and valuation before making an investment decision.

For an EPC company, the ability to execute projects on schedule and maintain healthy cash flows can be particularly important. A strong order book can support future revenue visibility, but it also brings execution and working-capital requirements.

LCC Projects IPO: Key Takeaways

The LCC Projects IPO is entering the market with several points that are likely to attract investor attention. The company operates in the irrigation and water infrastructure EPC segment, has an order book of 103 projects and has expanded its geographical presence across 12 states.

Financially, FY2026 saw healthy growth, with total income rising to ₹3,639.45 crore and PAT reaching ₹286.44 crore. The IPO also proposes to deploy ₹180 crore toward repayment or prepayment of borrowings.

Meanwhile, the grey market premium has strengthened to ₹29, implying a potential listing price of ₹175 at the upper end of the IPO price band.

Whether that premium sustains through the subscription period will depend on market demand and broader market conditions.

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