Last updated on December 2nd, 2025 at 12:55 am
| Check LCC Projects DRHP filing with SEBI. | Check LCC Projects IPO allotment status |
LCC Projects Limited is an infrastructure development and engineering company which provides comprehensive logistics, transportation, and heavy-lift solutions for large-scale industrial and infrastructure projects across India and across globe.
It specializes in project cargo management, offering end-to-end services that include planning, transportation, lifting, and installation of heavy and over-dimensional consignments (ODCs).
LCC Projects has filed DRHP to raise ~₹ 320 Crore as fresh issue and ~2.29 Crore Equity Shares as Offer for Sale.
The subscription dates and price range for the LCC Projects Limited IPO are yet been announced but we can expect this to be launched in Dec’25.
Revenue, PAT, EBITDA of LCC Projects
| Year | FY 2024 |
| Networth | ~ ₹ 382.82 Cr |
| Revenue: | ~ ₹ 2438.91 Cr |
| EBITDA | ~ ₹ 241.3 Cr |
| PAT | ~ ₹ 121.9 Cr |
| EBITDA Margin: | ~ 9.90% |
| PAT Margin | ~ 5 % |
LCC Projects Financials (Consolidated Figures)
| Year (Approx Values) | Revenue (₹ Cr) | Profit (₹ Cr) | Assets (₹ Cr) | Net Worth (₹ Cr) |
| 2022 | ₹ 780.9 | ₹ 35.3 | ₹ 473.3 | ₹ 193.1 |
| 2023 | ₹ 1,225.3 | ₹ 68.2 | ₹ 803.6 | ₹ 261.2 |
| 2024 | ₹ 2,438.9 | ₹ 122.0 | ₹ 1,130.0 | ₹ 382.8 |
LCC Projects IPO Grey market premium today
| Date | IPO Price | IPO GMP | GMP Trend | Estimated listing | Estimated profit per lot |
| 19-Nov | ₹ 0-0 | ₹ Not yet | – | ₹ – | ₹ |
| 18-Nov | ₹ 0-0 | ₹ – | – | ₹ – | ₹ |
| 17-Nov | ₹ 0-0 | ₹ – | – | ₹ – | ₹ |
| 16-Nov | ₹ 0-0 | ₹ – | – | ₹ – | ₹ |
| 15-Nov | ₹ 0-0 | ₹ – | – | ₹ – | ₹ |
LCC Projects IPO Pros & Cons
Strengths:
- Strong Order Book: Robust order book of ₹7,347 crore (as of Sept 2024) ensuring steady future revenue visibility and business sustainability across major infrastructure segments.
- Sector Leadership: Among India’s leading EPC players in irrigation and water-supply projects, backed by proven project execution in large government contracts.
- Revenue Growth: Revenue surged from ₹796 Cr in FY22 to ₹2,449 Cr in FY24, reflecting strong operational scalability and increasing project inflows.
- Debt Reduction Plan: IPO proceeds utilized for repaying ~₹220 Cr debt, which will improve profitability margins in future.
- Government Focus on Infrastructure: Aligned with India’s ongoing infrastructure push and Jal Jeevan Mission initiatives, ensuring steady project demand and long-term growth visibility.
Risks:
- High Dependence on Government Orders: Nearly 89% of revenue comes from government clients, exposing business to tender delays and policy risks.
- Working Capital Intensive: EPC operations require significant working capital; delayed payments could impact cash flow and project execution.
- Margin Volatility: PAT margin (~5%) and EBITDA margin (~9.9%) indicate limited cushion against input cost fluctuations.
- Geographical Concentration: Despite presence in 11 states, operations remain regionally concentrated, leading to localized project and political risks.
- Competitive Sector: Faces intense competition from established EPC players, which may pressure bidding prices and affect future profitability.
LCC Projects: IPO date & invest detail
| IPO Open Date: | Dec 2025 |
| IPO Close Date: | TBA |
| Anchor Investor Bidding | TBA |
| IPO Allotment Date: | TBA |
| Refunds & Demat Credit | TBA |
| Tentative Listing Date: | Dec 2025 |
| IPO Category | Mainboard |
| Symbol | |
| Face Value: | Rs. 05 per Equity Share |
| Issue Size: | ₹ 320 crore fresh issue + OFS of up to 22,940,000 equity shares |
| Lot Size: | TBA |
LCC Projects IPO Composition & Proceeds
| Fresh Issue: | ~ ₹ 320 Crore |
| Offer for Sale: | ~ 2.29 Crore Equity Shares |
| Employee reservation | – |
| Price Range | TBA |
| Use of Proceeds: | |
| Borrowing payment | ~ ₹ 220 Cr |
| Purchase of equipment | ~ ₹ 14.91 Cr |
| General Corporate Purpose | Balance |
| Technology & Infrastructure | NA |
| IPO Listing on: | BSE – NSE |
| Retail Quota: | ≥ 35% |
| QIB Quota: | ≤ 50% |
| NII Quota: | ≤ 15% |
LCC Projects Lot Size details
| Application Type | Lot Size | No. of Lots | No. of Shares | Investment Amount |
| Retail(Min) | TBA | 1 | TBA | ₹ – |
| Retail (Max) | TBA | 13 | TBA | ₹ – |
| Small HNI (Min) | TBA | 14 | TBA | ₹ – |
| Small HNI (Max) | TBA | 66 | TBA | ₹ – |
| Big HNI (Min) | TBA | 67 | TBA | ₹ – |
Core Offerings of LCC Projects
LCC Projects is an engineering, procurement and construction (EPC) company specialising in irrigation and water-supply projects (dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes including electromechanical components). It also works on metro rail, industrial infrastructure, mining and other major infrastructure projects.
LCC Projects ‘s customer reach/market share
The company claims to be one of the leading multidisciplinary EPC companies in India, in terms of market share in the irrigation & water supply projects segment.
It reported its operations across 11 states in India as of that period. For the six months ended 30 September 2024: about 88.81% of its order book/project revenue came from government contracts.
And only about 11.19% from private customers. It lists its order-book comprising of 68 ongoing projects as of Sep’24.
LCC Projects Promoters – Pre offer equity (Approx)
| Arjan Suja Rabari | ~41.67% |
| Laljibhai Arjanbhai Ahir | ~41.67% |
| Maya Arjan Rabari | ~16.66% |
Lead Managers / Registrars of LCC Projects
| Lead / Book Running Lead Managers | Motilal Oswal Investment Advisors Limited |
| Registrar (RTA) | Kfin Technologies Limited |
Founding Year of LCC Projects & Managing Director
The company, originally established as a partnership firm under the name Laxmi Construction Company (LCC) in 2004. It was converted to a private limited company in December 2017.
Arjanbhai Sujabhai Rabari & Laljibhai Arjanbhai Ahir both serves as Managing Director. While Arjanbhai Sujabhai Rabari also serves as Chairman of the company.
LCC Projects FAQ
Q1. What is the business of LCC Projects?
LCC Projects is an EPC company executing irrigation, water supply, and infrastructure projects, offering end-to-end design, construction, and logistics services across 11 Indian states.
Q2. Why is the company raising funds via IPO?
The IPO aims to repay ₹220 crore debt, purchase new equipment and to fund general corporate purposes, strengthening its balance sheet and supporting business expansion.
Q3. What is the size of the issue and where will it list?
Total issue size: ₹320 crore (fresh issue) + OFS of 2.29 crore shares. It will be listed on both NSE and BSE.
Q4. What are the risks to an investor?
High dependence on government projects, margin pressures, capital intensive business may impact revenue consistency and profitability.
Q5. What are the potential upsides?
Strong order book, consistent revenue growth, debt reduction, and govt inclination on infrastructure push in future could enhance earnings and add value for the investors.
Q6. How to apply for the IPO?
Investors can apply online via ASBA through net-banking, UPI-enabled broker platforms, or offline through authorized intermediaries during the subscription period.
Q 7. When is the tentative listing date?
Exact listing date is not yet announced, while the expected date to apply opens in Dec’25. And listing could be expected anytime between 5-7 days of listing.
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For further information you can visit official website of LCC Projects