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 fund general corporate purposes, strengthening 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) plus OFS of 2.29 crore shares. It will list on both NSE and BSE.

Q4. What are the risks to an investor?

High dependence on government projects, margin pressures, working-capital intensity, and competition in the EPC sector may impact revenue consistency and profitability.

Q5. What are the potential upsides?

Strong order book, consistent revenue growth, debt reduction, and government infrastructure push could enhance earnings visibility and long-term shareholder value.

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.

LCC Projects IPO: GMP today, Price, Review, Detail

Upcoming

LCC Projects IPO: GMP today, Price, Review, Detail

Market Cap

IPO Issue Size

₹ 320 crore fresh issue + OFS of up to 22,940,000 equity shares

Expected Price by IPOCorner

IPO Score

*Score varies on actual price

LCC Projects Limited is an infrastructure development and engineering company engaged in providing comprehensive logistics, transportation, and heavy-lift solutions for large-scale industrial and infrastructure projects across India and abroad. The company specializes in project cargo management, offering end-to-end services that include planning, transportation, lifting, and installation of heavy and over-dimensional consignments (ODCs).

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 (incorporation date 28 Dec 2017).Arjanbhai Sujabhai Rabari serves as Chairman and Managing Director. Laljibhai Arjanbhai Ahir also serves as Managing Director.

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.

The subscription dates and price range for the LCC Projects Limited IPO have not yet been announced

₹ 320 crore fresh issue + OFS of up to 22,940,000 equity shares

Fresh Issue

~ ₹ 320 Crore

Offer for Sale

~ ₹ 2.29 Crore Equity Shares

Year	2025
Networth	~ ₹ 382.82 Cr
Revenue	~ ₹ 2438.91 Cr
EBITDA	~ ₹ 241.3 Cr
PAT	~ ₹ 121.9 Cr
EBITDA Margin	9.90%
PAT Margin	~ 5 %
Face Value	05 PER SHARE

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount

Financial Data

#	2022	2023	2024
Revenue (₹ Cr)	₹ 780.9	₹ 1,225.3	₹ 2,438.9
PAT (₹ Cr)	₹ 35.3	₹ 68.2	₹ 122.0
Asset (₹ Cr)	₹ 473.3	₹ 803.6	₹ 1,130.0
Net Worth (₹ Cr)	₹ 193.1	₹ 261.2	₹ 382.8

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
17-Jun	₹ –	₹ –	₹ –
16-Jun	₹ –	₹ –	₹ –
15-Jun	₹ –	₹ –	₹ –
14-Jun	₹ –
13-Jun	₹ –

Pros

Strong Order Book: Robust order book of ₹7,347 crore (as of Sept 2024) ensures 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 for 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 earmarked for repaying ~₹220 cr debt, likely improving leverage ratios and profitability margins post listing.
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.

Cons

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 (~10.7%) 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.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
Arjan Suja Rabari	~41.67%
Laljibhai Arjanbhai Ahir	~41.67%
Maya Arjan Rabari	~16.66%
-	-
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	00
ROCE	00
RoNW	N/A

Lead / Book Running Lead Managers

Motilal Oswal Investment Advisors Limited

Registrar (RTA)

KFin Technologies Limited

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 fund general corporate purposes, strengthening 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) plus OFS of 2.29 crore shares. It will list on both NSE and BSE.
Q4. What are the risks to an investor?
High dependence on government projects, margin pressures, working-capital intensity, and competition in the EPC sector may impact revenue consistency and profitability.
Q5. What are the potential upsides?
Strong order book, consistent revenue growth, debt reduction, and government infrastructure push could enhance earnings visibility and long-term shareholder value.
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.