LCC Projects IPO Opens September 9, Priced At ₹139-146 Per Share

LCC Projects Ltd, an engineering, procurement and construction company, has set a price band of ₹139-146 per equity share for its upcoming initial public offering. The IPO will open for public subscription on September 9 and close on September 11.

The company has planned to use the proceeds from the fresh issue to purchase equipment and repay debt. A portion of the funds will also be allocated towards general corporate purposes.

LCC Projects is a multidisciplinary EPC company with more than two decades of experience in infrastructure development, particularly irrigation and water supply projects. Its portfolio includes the construction of dams, barrages, weirs, hydraulic structures, canals and pipe distribution networks.

The public offering comprises a fresh issue of equity shares worth up to ₹258 crore along with an Offer for Sale (OFS) of up to 1.15 crore shares. At the upper end of the price band, the total issue size is estimated at around ₹427 crore.

Bidding for anchor investors is scheduled for September 8. Motilal Oswal Investment Advisors is the book-running lead manager for the IPO, while KFin Technologies has been appointed as the registrar to the issue.

Following the completion of the IPO, LCC Projects shares are proposed to list on both the BSE and NSE on September 17.

The company's experience in infrastructure development and its plans to use the IPO proceeds for equipment purchase and debt repayment are expected to attract investors.

The IPO is expected to provide an opportunity for investors to participate in the growth of the company.

In the current market scenario, the IPO is likely to generate significant interest among investors.

The listing of LCC Projects shares on both the BSE and NSE is expected to provide liquidity to investors and enhance the company's visibility in the market.

Overall, the LCC Projects IPO is an important development in the Indian capital market and is expected to have a significant impact on the company's growth and expansion plans.