LCC Projects Limited IPO — Subscription & GMP
- Price band
- ₹139 – ₹146
- Lot size
- 102
- Issue size
- ₹427.14 Cr
- Bidding
- 09 Sept 2026 → 11 Sept 2026
- Allotment
- —
- Listing
- 17 Sept 2026
Listing outcome
Official exchange pricesGMP was out by 11.7 percentage points against the buyer — it implied +41.10% and the issue listed +29.45%. Counted in our running GMP accuracy record.
Schedule
- 09 Sept 2026IPO open date
- 11 Sept 2026IPO close date
- 14 Sept 2026Allotment date†
- 14 Sept 2026Funds unblock or debit†
- 17 Sept 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsLCC Projects Limited - Business Model Summary
LCC Projects Limited operates as a multidisciplinary Engineering, Procurement, and Construction (EPC) contractor specializing primarily in large-scale public infrastructure, water management, and heavy civil construction projects.
Core Segments & Execution Model
1. Sector Specialization: - Water Infrastructure: Focuses heavily on irrigation, dams, barrages, lift irrigation systems, pipe distribution networks, and multi-village rural drinking water supply schemes. - Civil & Transportation Infrastructure: Undertakes construction of roads, highways, bridges, metro rail viaducts/stations, and industrial structures. - Emerging Verticals: Expanding into specialized heavy infrastructure areas such as Mining Development and Operations (MDO).
2. Bidding & Contract Lifecycle: - Government Client Base: Secures long-term contracts predominantly through competitive bidding tenders floated by central and state government agencies, semi-government bodies, and public sector undertakings. - End-to-End Capabilities: Manages the entire project lifecycle internally, combining in-house engineering design, resource mobilization, raw material procurement, and heavy equipment deployment to execute and commission projects.
Revenue Streams Revenue is generated through fixed-price or milestone-based construction contracts awarded via public tenders, where payments are released by government bodies progressively based on project execution phases and milestone completions.
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS | ₹10.42 | — |
| P/E ratio | 14.01× | — |
| NAV per share | ₹32.66 | — |
Promoter holding pre/post issue is in the offer document but we do not yet extract it. Left blank rather than estimated.
Read from the company’s offer document filed with SEBI. Figures are the latest reported financial year, as restated in that filing.
Figures are as reported and not independently audited, and are read 42 d ago.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from NSE · fetched 785 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers(QIBs) | 58.54 L | 27.86 Cr | 47.60× |
| 1(a)Foreign Institutional Investors(FIIs) | — | 3.53 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 13.08 Cr | — |
| 1(c)Mutual funds | — | 8.22 L | — |
| 1(d)Others | — | 11.17 Cr | — |
| 2Non Institutional Investors | 45.22 L | 24.97 Cr | 55.23× |
| 2.1Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 30.15 L | 16.33 Cr | 54.16× |
| 2.1(b)Individuals(Other than RIIs) | — | 14.95 Cr | — |
| 2.2Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 15.07 L | 8.65 Cr | 57.36× |
| 2.2(a)Corporates | — | 4.68 L | — |
| 3Retail Individual Investors(RIIs) | 1.06 Cr | 19.83 Cr | 18.80× |
| 3(a)Cut Off | — | 17.73 Cr | — |
| 3(b)Price bids | — | 2.10 Cr | — |
| Total | 2.09 Cr | 72.67 Cr | 34.73× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹139 → ₹146 · peak 101.58 Cr shares bid
Anchor investors
From NSE's anchor allocation filingAnchor investors are institutions allotted shares one working day before public bidding opens, in exchange for a lock-in. Up to 60% of the QIB portion can go to them, which reduces the QIB shares left for everyone else — and their participation is widely read as a confidence signal.
Anchor allocation report (NSE)
This issue’s anchor letter was filed as a scanned image with no text layer, so the allocation table cannot be read without OCR. We link the filing rather than publish figures we cannot verify.
Equity split
Fresh equity vs offer for sale- Fresh equity
- ₹258.00 Cr 60.4%
- Offer for sale
- ₹169.14 Cr 39.6%
- Total issue size
- ₹427.14 Cr
Read from the issue size stated in NSE's filing. The filing quotes the offer for sale as 1.16 Cr shares rather than a rupee amount, so it is valued here at the cap price of ₹146 — the final figure moves with the issue price.
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹139 – ₹146
- Lot size
- 102 shares
- Min. bid quantity
- 102
- Face value
- ₹5.00
- Tick size
- ₹1.00
- Shares offered
- 2.09 Cr
- Issue size
- ₹427.14 Cr
- Max bid · QIB
- 2.09 Cr
- Max bid · NII
- 1.51 Cr
Timeline & process
- Bidding opens
- 09 Sept 2026
- Bidding closes
- 11 Sept 2026
- Bidding hours
- 10.00 a.m. to 5.00 p.m.
- UPI mandate cutoff
- 11-Sep-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability to participate in IPOs by successfully accepting the mandate.
- Allotment
- —
- Listing
- 17 Sept 2026
Intermediaries
- Registrar
- Kfin Technologies Limited
- Sponsor bank
- HDFC BANK
- Lead managers
- Motilal Oswal Investment Advisors Limited