LCC Projects IPO
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LCC Projects IPO details
Schedule of LCC Projects
| Issue open date | 09 Sep 2026 |
| Issue close date | 11 Sep 2026 |
| UPI mandate deadline | 11 Sep 2026 (5 PM) |
| Allotment finalization | 15 Sep 2026 |
| Refund initiation | 16 Sep 2026 |
| Share credit | 16 Sep 2026 |
| Listing date | 17 Sep 2026 |
| Mandate end date | 26 Sep 2026 |
| Lock-in end date for anchor investors (50%) | 14 Oct 2026 |
| Lock-in end date for anchor investors (remaining) | 13 Dec 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About LCC Projects
LCC Projects is an infrastructure company operating primarily in the irrigation and water supply sector. The company executes a wide range of projects, including the construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, and water supply schemes. It generates the majority of its revenue from state and central government departments through engineering, procurement, and construction contracts awarded via competitive bidding. While irrigation and water supply projects account for the vast majority of its business, the company is diversifying into other infrastructure sectors. Its current operations include ongoing projects in metro railway construction, mining, road work, and renewable energy. The company operates across multiple states in India, with a significant geographic concentration of its ongoing projects in Gujarat and Madhya Pradesh. It also recently established a manufacturing unit for precast concrete solutions.
Financials of LCC Projects
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 427.14 |
| Fresh Issue – Proceeds go to the company | 258 |
| Offer for sale – Proceeds go to the existing investors | 169.14 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Purchase of equipment | 14.69 (5.69%) |
| Prepayment and/or repayment of outstanding borrowings | 180 (69.77%) |
| General corporate purposes | 63.31 (24.54%) |
Strengths
- Proven track record in successfully executing complex irrigation and water supply infrastructure projects.
- A robust order book ensures strong future revenue visibility and growth.
- Geographically diversified operational presence spanning across 12 different Indian states.
- Consistent financial growth demonstrated by a strong revenue CAGR of 21.50% (FY24–FY26).
- Extensive in-house fleet of construction equipment and newly added precast concrete manufacturing capabilities.
Risks
- Top 10 clients generate 72.30% of our total operating revenue.
- High reliance on government contracts exposes us to policy shifts.
- Higher financial leverage and debt compared to listed industry peers.
- High geographic revenue concentration in Gujarat and Madhya Pradesh.
- High unbilled revenue levels could negatively impact our cash flows.