LCC Projects IPO

About LCC Projects IPO

The public issue of the LCC Projects IPO, a Mainboard IPO, opens on Wednesday, September 9, 2026 and closes on Friday, September 11, 2026. The allotment of shares will take place on Tuesday, September 15, 2026. The credit of shares to the demat account will take place on Wednesday, September 16, 2026. The initiation of refunds will take place on Wednesday, September 16, 2026. The listing of shares will take place on Thursday, September 17, 2026.

The equity shares offered through the IPO are proposed to be listed on the BSE and the NSE.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 1.77 crore shares aggregating to ₹258.00 crore. The offer for sale portion includes 1,15,85,000 shares of ₹5 aggregating up to ₹169 crore. The total number of shares and aggregate amount are 2,92,56,232 shares aggregating up to ₹427 crore.

LCC Projects IPO’s price band is set at ₹139 to ₹146 per share. The lot size for an application is 102 shares. The minimum amount of investment required by a retail individual investor is ₹14,892 (102 shares) based on the upper price band.

LCC Projects is a multidisciplinary engineering, procurement and construction (EPC) company in the irrigation and water supply projects segment from Gujarat. They are a multidisciplinary large corporate EPC company from Gujarat, poised to undertake infrastructure projects across 12 states in India

Objectives of LCC Projects IPO

• Purchase of equipment.
  
• Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company.
  
• General corporate purposes.
  

Industry Outlook

In India both traditional and modern irrigation techniques are used in tandem. Traditional methods include moats, chain pump, dhelki, and Rahat which are primarily dependent on surface and well waters. These are simpler and less costly, but lack precision, as compared to modern methods. Sprinkler system, drip irrigation systems are modern irrigation methods, which provide extreme precision and reduce wastage of water, but can often be costlier to install and maintain. In FY2025, the government has invested in various irrigation projects (both major and medium), which are at various stages of construction. Many projects are also approved by the Advisory Committee of DoWR, RD&GR in the year.

About LCC Projects

LCC Projects is a multidisciplinary engineering, procurement and construction (EPC) company in the irrigation and water supply projects segment from Gujarat. They are a multidisciplinary large corporate EPC company from Gujarat, poised to undertake infrastructure projects across 12 states in India. Over a period of two decades (including projects undertaken through the partnership firm prior to conversion to the company), they have executed a wide range of projects in the irrigation and water supply segment such as construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other EPC projects.

Strengths of LCC Projects

• Multidisciplinary EPC company in India for irrigation and water supply projects.
• Strong order book and diversified project portfolio.
• In-house project designing capabilities with robust technical knowledge.
• Strong risk management, project selection and dispute resolution processes.
• Efficient business model.
• Experienced management team and qualified personnel with significant industry experience.

Risks of LCC Projects

• Their inability to collect receivables outstanding and due to be paid by their customers, in a timely manner, or at all, may adversely affect their business, financial condition, etc.
• They have certain contingent liabilities which have been disclosed in their Restated Consolidated Financial Information.
• Their business operations are being conducted on premises leased from third parties.
• The company has a significantly higher level of indebtedness and leverage compared to their listed industry peers.
• Revenue from their top ten customers comprise a significant portion of their revenue from operations.
• There are outstanding legal proceedings involving their company, subsidiaries, promoters and directors.
• They are an infrastructure company operating primarily in the irrigation and water supply projects segment and their business significantly depends on projects awarded by state and central government departments.
• Their operations are geographically concentrated in the states of Gujarat and Madhya Pradesh.

Anchor Investor Bidding Date

Tuesday, September 8, 2026

IPO Registrar and Book Running Lead Managers

Registrar Details
Kfin Technologies Ltd.
Email: lccpl.ipo@kfintech.com
Tel: 040-79615565

Book Running Lead Manager
Motilal Oswal Investment Advisors Ltd.

LCC Projects Contact Details
‘B’ Wing,15th Floor, Privilon Building, Vikram Nagar AmbliBopal Road,
Behind ISKCON Temple, Ahmedabad, Gujarat, 380058
Email: cs@lccprojects.com
Phone: +91 79 4848 4453

LCC Projects Business Model

The company earns its revenue as a multidisciplinary engineering, procurement and construction (EPC) company in the irrigation and water supply projects segment from Gujarat.

LCC Projects Growth Trajectory

LCC Projects’s Total Income for FY26 was ₹3639.45 crore, whereas in FY25 and FY24 it was ₹2941.01 crore and ₹2449.79 crore, respectively.

The Profit After Tax for FY26 was ₹286.44 crore, whereas in FY25 and FY24 it was ₹223.62 crore and ₹122.00 crore, respectively.

Their EBITDA for FY26 was ₹519.90 crore, whereas in FY25 and FY24 it was ₹401.03 crore and ₹241.36 crore, respectively.

LCC Projects Market Position

As of the fiscal ended March 31, 2026, their order book comprises 103 projects, of which Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi – Village Scheme and Gandhi Sagar 1 Multi-Village Scheme are their top three projects, in terms of project value, having a project value of ₹ 1534.95 crore, ₹ 1525.14 crore, and ₹ 1153.90 crore, respectively.

As of 31 March 2026, the company’s Total Income, Profit After Tax, and EBITDA were ₹3639.45 crore, ₹286.44 crore, and ₹519.90 crore, respectively.

How to apply for LCC Projects IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.