LCC Projects IPO: EPC player to launch issue on September 09; check all key details

Gujarat-based LCC Projects, an engineering, procurement and construction company operating in the irrigation and water supply segments, will launch its maiden public issue of Rs 427.1 crore on September 9. The IPO has been priced in the range of Rs 139 to Rs 146 per share, valuing the company at Rs 4,229.2 crore at the upper end of the price band.

The issue comprises a fresh issue of equity shares worth up to Rs 258 crore and an offer-for-sale of 1.15 crore shares by promoters Arjan Suja Rabari and Laljibhai Arjanbhai Ahir. The offer-for-sale is valued at Rs 169.1 crore at the upper end of the price band. The company will open its anchor book for institutional investors for one day on September 8, while the public issue will close on September 11.

LCC Projects is expected to finalise the share allotment by September 15, and its equity shares are likely to start trading on the stock exchanges from September 17. The company executes projects in the irrigation and water supply segments, including the construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works and water supply schemes, among other EPC projects.

As of March 2026, LCC Projects had an order book of Rs 7,953.1 crore, with irrigation and water supply projects accounting for 83 per cent of the total. The company said it plans to use Rs 14.6 crore from the net fresh issue proceeds to buy equipment, Rs 180 crore to repay certain borrowings, and the rest for general corporate purposes. As of July 2026, its total consolidated borrowings stood at Rs 1,817.7 crore.

LCC Projects, which competes with listed peers such as Vishnu Prakash R Punglia and Enviro Infra Engineers, reported growth in the year ended March 2026. Its profit rose 28.1 per cent to Rs 286.4 crore, while revenue increased 23.4 per cent to Rs 3,600.3 crore from the previous year. Motilal Oswal Investment Advisors is the sole merchant banker to the issue.