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LCC Projects IPO Set for NSE, BSE Listing Tomorrow
LCC Projects is planning to put its new shares on the stock exchanges tomorrow.
The shares are expected to begin trading on the NSE and BSE at 10:00 IST.
Investors showed strong interest because the IPO was subscribed many times over.
In the grey market, the shares were being priced ₹44 above the top IPO price.
This suggested an estimated first trading price of ₹190.
One analyst said the company has a strong order book and improving profits.
He also warned that the company depends on government projects and faces execution and debt-related risks.
He suggested that allotted investors could sell some shares and keep the rest, depending on their risk tolerance.
LCC Projects shares are scheduled to list on the NSE and BSE on Thursday, 17 September, at 10:00 IST.
The IPO’s grey market premium stood at ₹44, implying an estimated listing price of ₹190, or 30.14% above the ₹146 upper price-band price.
The issue was subscribed 48.51 times, with QIBs subscribing 78.69 times, NIIs 62.99 times and retail investors 25.56 times.
The IPO price band was ₹139–₹146 per share, valuing LCC Projects at up to ₹427 crore.
Analyst Mahesh M. Ojha expects a potential listing gain of up to 25% but cited leverage, government-project dependence and execution risks.
- Who
- LCC Projects and investors who received IPO allotments; analyst Mahesh M. Ojha provided the listing assessment.
- What
- LCC Projects’ equity shares are scheduled to list and begin trading after a special pre-open session.
- Where
- The shares are scheduled to list on the BSE and NSE.
- When
- Thursday, 17 September, at 10:00 IST; IPO allotment was finalized on Tuesday, 15 September.
- Why
- The listing follows LCC Projects’ public issue, which raised funds for equipment purchases, debt repayment and general corporate purposes.
Positive outlook
Risks and caution
Listing prospects
Positive outlook
Mahesh M. Ojha said LCC Projects’ strong order book, improving profitability and established execution capabilities support its growth outlook, with a potential listing gain of up to 25%.
Risks and caution
The grey market premium of ₹44 was described as a relatively pessimistic signal compared with its fluctuations between ₹17 and ₹78 over the previous 13 sessions.
Long-term investment
Positive outlook
Investors receiving allotments could retain some shares for the long term if the company delivers on execution, according to Ojha.
Risks and caution
Ojha cited dependence on government projects, customer and geographical concentration, project execution challenges and relatively high leverage as risks requiring a balanced valuation approach.
Post-listing strategy
Positive outlook
Partial profit booking could allow allotted investors to secure gains while retaining exposure to future growth.
Risks and caution
The appropriate strategy depends on each investor’s risk appetite and the company’s future execution performance.
Key facts
- Listing time
- 10:00 IST on Thursday, 17 September
- IPO price band
- ₹139–₹146 per share
- Current GMP
- ₹44
- Estimated listing price
- ₹190 per share, based on the upper price-band price and GMP
- Total subscription
- 48.51 times
- Issue valuation
- Up to ₹427 crore at the upper price band
- Fresh issue
- Up to ₹258 crore, alongside an offer for sale of up to 1,15,85,000 shares
Sources
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