The LCC Projects IPO is seeing stronger investor interest as bidding progresses, with both the grey market premium and subscription numbers moving higher on September 10, 2026.
As of 12:21 PM, the issue was subscribed 2.28 times overall, with bids received for 2,04,79,363 shares. Non-institutional investors (NII) are currently leading the subscription at 2.88 times, while the retail portion has been subscribed 2.67 times.
The grey market has also turned noticeably stronger. LCC Projects IPO GMP climbed to ₹50 on September 10 from ₹40 a day earlier. At the IPO price of ₹146, the latest GMP indicates an estimated listing price of ₹196.
That translates into a potential listing premium of 34.25%, if the current GMP holds until listing.
The latest LCC Projects IPO GMP stands at ₹50 as of 12:00 PM on September 10.
The premium has been rising steadily over the past week. GMP was ₹17 on September 4 and moved to ₹25 by September 5. After remaining at ₹25 on September 6, it edged up to ₹25.50 on September 7.
The pace picked up from there. GMP rose to ₹34 on September 8, ₹40 on September 9 and now ₹50 on September 10.
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Gain |
|---|---|---|---|---|
| 10 Sep 2026 | ₹146 | ₹49.7 | ₹195.7 | 34.25% |
| 9 Sep 2026 | ₹146 | ₹40 | ₹186 | 27.40% |
| 8 Sep 2026 | ₹146 | ₹34 | ₹180 | 23.29% |
| 7 Sep 2026 | ₹146 | ₹25.50 | ₹171.50 | 17.47% |
| 6 Sep 2026 | ₹146 | ₹25 | ₹171 | 17.12% |
| 5 Sep 2026 | ₹146 | ₹25 | ₹171 | 17.12% |
| 4 Sep 2026 | ₹146 | ₹17 | ₹163 | 11.64% |
The move is fairly sharp. LCC Projects GMP has risen from ₹17 to ₹50 in six days, taking the implied listing premium from 11.64% to 34.25%.
Investor demand has strengthened alongside the GMP.
As of 03:41 PM on September 10, the LCC Projects IPO was subscribed 3.23 times overall. Investors had placed bids for more than 2.04 crore shares.
The NII category has attracted the strongest demand among the broad investor groups, with subscription at 4.18 times. Retail investors are close behind at 4.01 times, while QIB subscription stands at 1.14 times.
| Investor Category | Subscription |
|---|---|
| QIB | 1.15x |
| NII | 4.18x |
| S-NII | 5.56x |
| B-NII | 3.49x |
| Retail | 4.01x |
| Overall | 3.23x |
All three main investor categories have crossed the one-time subscription mark.
The NII portion is currently the strongest-performing broad category at 2.88x.
Within NII, the S-NII segment has been subscribed 5.56 times. The B-NII category has also seen healthy demand, reaching 3.49x.
This suggests that demand is not concentrated in just one part of the non-institutional segment.
Retail participation is strong as well. The RII portion has received bids for 1,02,39,681 shares, taking subscription to 4.01 times.
QIB investors have subscribed 1.15 times, keeping the institutional portion above full subscription at this stage of bidding.
The grey market trend has been one of the key talking points around the IPO.
On September 4, LCC Projects GMP was ₹17. It remained relatively moderate at ₹25 over the next couple of sessions before beginning to accelerate.
The premium rose to ₹34 on September 8, followed by ₹40 on September 9. It has now reached ₹49.7.
That means the GMP has increased by approximately ₹33 from September 4.
The estimated listing price has moved in tandem, from ₹163 at the beginning of the period to ₹196 now.
However, the grey market is unofficial. A rising GMP can indicate stronger sentiment, but it does not guarantee the actual listing price.
At the current GMP of ₹49.7, the estimated listing price is ₹195.7.
The calculation is:
IPO price: ₹146
Current GMP: ₹49.7
Estimated listing price: ₹195.7
The implied premium comes to 34.25%.
The supplied GMP data also indicates an estimated profit of ₹5,100 for one lot at the current premium.
This estimate assumes the GMP remains unchanged and is not a guarantee of actual listing gains.
Both indicators are currently pointing in a positive direction.
The GMP has climbed from ₹17 to ₹49.7 since September 4, while subscription has reached 3.23x.
More importantly, the subscription is spread across QIB, NII and retail investors rather than being driven by a single category.
Still, GMP should be treated carefully. It is based on unofficial grey-market activity and can change quickly. The actual listing price will depend on market conditions and demand when trading begins.
Disclaimer – The stock/s and indices mentioned in this article are discussed solely for informational and educational purposes. It should not be construed as investment advice or a recommendation to buy or sell any securities. Investors should conduct their own research or consult a financial advisor before making any investment decisions. Investments in securities markets are subject to market risks. Read all the related documents carefully before investing.
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