Business Desk – Upcoming IPO September 2026: A big issue is going to open in the IPO market next week. LCC Projects Limited IPO will open on 9 September 2026. The company will raise Rs 427.14 crore through this issue. The special thing is that even before the IPO opens, the share is trading at a premium in the gray market.
As of 7:35 am on September 5, its GMP is said to be Rs 17. If we consider the upper price band of Rs 146 as the basis, then the estimated listing can be around Rs 163. That is, according to the current GMP, there is an indication of a possible growth of about 11.64%. Although GMP is only an informal indication, it is not a guarantee.
The issue is worth Rs 427 crore
This IPO of LCC Projects is worth a total of Rs 427.14 crore. In this, the company will raise Rs 258 crore by issuing 1.77 crore new shares. At the same time, 1.16 crore shares will be sold through Offer for Sale i.e. OFS, which is worth Rs 169.14 crore.
The company has fixed the price band of the share at Rs 139 to Rs 146. The lot size of the IPO is 102 shares. That means, at the upper price band, a retail investor will have to invest Rs 14,892 for one lot.
IPO will open on September 9
Investments can be made in LCC Projects IPO from 9 September to 11 September 2026. The allotment of shares is expected to take place on September 15. At the same time, listing of the company's shares on NSE and BSE is possible on September 17. Motilal Oswal Investment Advisors is the lead manager and Kfin Technologies is the registrar for the issue.
Indication of how much profit can be made from GMP?
As of 7:35 am on September 5, GMP is Rs 17. Adding this to the upper price band of Rs 146, the estimated listing price comes to Rs 163. That means there is an indication of a possible increase of about Rs 17 or 11.64% from the upper price of IPO.
But investors should be careful here. GMP is an unofficial gray market figure and is subject to change until listing. Therefore, one should not decide to invest money in IPO just by looking at GMP.
What work does the company do?
LCC Projects was started in 2017. The company works in the engineering, procurement and construction (EPC) sector. Its main business is projects related to irrigation and water supply.
The company works on projects like dams, barrages, canals, water supply schemes, pipe distribution networks and lift irrigation. As of March 31, 2026, the company had an order book for a total of 103 projects.
Prominent among them are Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi-Village Scheme and Gandhi Sagar-1 Multi-Village Scheme. The company has also completed projects like Tawa Left Bank Canal, Parvati Dam, Dudhai Sub-Branch Canal and Akot Lift Irrigation.
Business increased from 8 to 12 states
In the financial year 2026, the company's business increased from 8 states to 12 states. As of March 31, 2026, the company was operating in Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Andhra Pradesh, Himachal Pradesh and Haryana.
increase in earnings also
The total income of the company increased from Rs 2,941.01 crore in FY 2025 to Rs 3,639.45 crore in FY 2026. That means there was an increase of about 24%. During the same period, the company's profit after tax i.e. PAT increased from Rs 223.63 crore to Rs 286.44 crore. This increased by about 28%.
In FY 2026, the company's EBITDA was Rs 519.90 crore, net worth was Rs 888.41 crore, reserves and surplus were Rs 752.41 crore and total borrowings were Rs 860.65 crore. The total assets of the company were Rs 2,447.54 crore.
What will the company do with the money received from IPO?
The company will spend about Rs 14.69 crore from the money received from IPO on purchasing equipment. Rs 180 crore has been kept aside for full or partial repayment of the existing loan. The remaining amount will be used for general corporate needs.
