LCC Projects IPO
UpcomingMainboardOpens 9 September 2026Closes 11 September 2026
Originally converted from the partnership firm M/s. Laxmi Construction Co. incorporated in 2017, LCC Projects Limited is a leading engineering, procurement, and construction (EPC) company specializing in water supply…
Originally converted from the partnership firm M/s. Laxmi Construction Co. incorporated in 2017, LCC Projects Limited is a leading engineering, procurement, and construction (EPC) company specializing in water supply and irrigation infrastructure across India. The company undertakes complex civil works including dams, barrages, lift irrigation projects, piped drinking water networks, canals, and sewage treatment plants. As of March 31, 2026, LCC Projects maintains an active order book of ₹7,953.18 Cr across 103 projects in 12 states (prominently Gujarat and Madhya Pradesh), with key flagship public initiatives like the Jal Jeevan Mission (JJM) contributing significantly to its execution pipeline.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
9 Sept
IPO Closes
11 Sept
Allotment
15 Sept
Listing
17 Sept
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 9 September 2026 |
| IPO Close Date | 11 September 2026 |
| Allotment Date | 15 September 2026 |
| Listing Date | 17 September 2026 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,892 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,93,596 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,08,488 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,97,764 |
BHNIAbove ₹10,00,000 | 68 | ₹10,12,656 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 50.00% |
| NII (Non-Institutional Investor) | 15.00% |
| SHNI (Small Non-Institutional Investor) | 5.00% |
| BHNI (Big Non-Institutional Investor) | 10.00% |
| Retail | 35.00% |
| Total | 100.00% |
IPO Objectives
- Purchase of equipment (₹14.69 Cr).
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by Company (₹180.00 Cr).
- General corporate purposes.
Strengths
- Specialized leadership and over two decades of operational experience in the water supply and irrigation EPC infrastructure domain.
- Substantial order book of ₹7,953.18 Cr across 103 projects in 12 states providing healthy revenue visibility.
- Strong growth metrics with revenue from operations expanding at a CAGR of 21.50% and PAT growing at a CAGR of 53.23% between FY24 and FY26.
- Consistent and superior capital efficiency with Return on Net Worth (RoNW) of 32.24% and ROCE of 27.13% in FY26.
Weaknesses
- Significant geographical concentration, with Gujarat (39.64%) and Madhya Pradesh (36.58%) accounting for 76.22% of revenue from operations in FY26.
- High revenue dependence on government departments (89.34% of FY26 revenue) and schemes like Jal Jeevan Mission (19.54% of order book).
- High working capital intensity with unbilled revenues at ₹534.83 Cr and trade receivables at ₹455.82 Cr as of March 31, 2026.
- Relatively elevated financial leverage compared to peers, with total borrowings of ₹860.65 Cr and a debt-to-equity ratio of 0.97x.
Financial Performance
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets (₹ Cr.) | 2,447.54 | 1,727.46 | 1,129.99 |
| Revenue (₹ Cr.) | 3,639.45 | 2,941.01 | 2,449.79 |
| PAT (₹ Cr.) | 286.44 | 223.63 | 122 |
| Net Worth (₹ Cr.) | 888.41 | 604.99 | 382.83 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| LCC Projects | 4.47 | 14.76 | 32.24% | 888.41 |
| Enviro Infra Engineers | 2.85 | 17.97 | 14.84% | 68.66 |
| Vishnu Prakash R Punglia | 0.71 | 0 | -23.83% | 50.54 |
Subscription Details
No daily bids available.
No subscription statistics available.
Company Details
- LCC Projects Limited
- LCC Corporate House, B/S GTPL House, Sindhu Bhavan Road, Bodakdev, Ahmedabad - 380 054, Gujarat, India
- +91 79 4848 4453
- cs@lccprojects.com
- https://www.lccprojects.com
Registrar Details
- KFin Technologies Limited
- +91 40 6716 2222
- lccpl.ipo@kfintech.com
- https://www.kfintech.com/
Frequently Asked Questions
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LCC Projects IPO News & Updates
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LCC Projects IPO IPO Pages
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LCC Projects IPO Details
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LCC Projects IPO GMP
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LCC Projects IPO Subscription
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LCC Projects IPO Allotment
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LCC Projects IPO Review
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LCC Projects IPO FAQ
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LCC Projects IPO Registrar
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LCC Projects IPO Timeline
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LCC Projects IPO News
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Sources
We match LCC Projects IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- KFin Technologies LimitedOfficial site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.