LCC Projects IPO Set To Open September 9, Price Band Fixed At ₹139-146 Per Share

Engineering, procurement and construction firm LCC Projects Ltd has announced a price range of Rs 139-146 per share for its forthcoming Rs 427-crore initial public offering. The IPO will commence trading on September 9 and conclude on September 11, with anchor investor bidding taking place on September 8. The public offering encompasses a prospective equity share issuance up to Rs 258 crore, complemented by an Offer for Sale of up to 1.15 crore shares.

At the higher end of the LCC Projects IPO price band, the entire issue is projected to amount to around Rs 427 crore, while at the lower end, the offer would be valued at approximately Rs 419 crore. The company intends to employ the proceeds from the new issue to acquire machinery, settle debt, and allocate funds for general corporate objectives.

LCC Projects is a multidisciplinary EPC company boasting over two decades of expertise in infrastructure development, with a focus on irrigation and water supply projects. Their portfolio encompasses the construction of dams, barrages, weirs, hydraulic structures, canals, and pipe distribution networks, as well as lift irrigation works, water supply schemes, and other EPC infrastructure projects.

Following the IPO completion, LCC Projects shares are set to be listed on both the BSE and NSE on September 17, with Motilal Oswal Investment Advisors serving as the book-running lead manager and KFin Technologies acting as the registrar to the issue.