LCC Projects Limited
LCC Projects Limited is a mainboard IPO raising ₹427 Cr at ₹139 – ₹146 a share. It listed on 17 Sept 2026 at ₹189, +29.5% against its issue price of ₹146, and trades at ₹118 today (−19.1% since issue). It was subscribed 49× in total.
48.5 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs146. Checked: exchange issue size Rs427 Cr vs derived Rs427.1 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 27% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Vishnu Prakash R Punglia Limited | — | — | ₹-12.04 |
| Enviro Infra Engineers Limited | 19.14× | 15.28% | ₹10.41 |
| This issue | 14× | 32.24% | ₹10.42 |
derived: cut-off price Rs146 / stated EPS Rs10.42 (FY2026 (year ended March 31, 2026) diluted EPS, restated consolidated, adjusted for share split (₹10 to ₹5) and bonus issue). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.