LCC Projects share price: Stock lists at 29% premium on NSE; here's how much investors made per lot

On the BSE, the scrip started trading at ₹191.90, up 31.44% from the issue price.

LCC Projects share price: Here's how much investors made per lot

A lot consisted of 102 shares and cost ₹14,892. Investors who received the LCC Projects IPO allotment made ₹4,386 per lot, taking the value of their investment to ₹19,278, as per the listing price on the NSE.

The initial public offering sought to raise ₹427.14 crore via a fresh issuance of ₹258 crore and an offer for sale (OFS) component of ₹169.14 crore by promoters Laljibhai Arjanbhai Ahir and Arjan Suja Rabari.

The net proceeds from the issue will be used for the purchase of equipment, repayment of certain outstanding borrowings availed by the company and general corporate purposes.

"Our company will receive the benefits of listing of its equity shares on the stock exchanges, including enhancement of our company’s brand name and creating a public market for our equity shares in India," the firm said in its red herring prospectus (RHP).

The initial share sale was subscribed 48.51 times, as it received bids for 1,01,52,32,622 shares against 2,09,27,281 shares on offer, as per the NSE data.

The quota for qualified institutional buyers (QIBs) secured 78.69 times subscription. The portion for non-institutional investors (NIIs) was subscribed 62.99 times, and that of retail individual investors 25.56 times.

LCC Projects Ltd provides engineering, procurement and construction (EPC) services in projects related to irrigation and water supply. It has executed irrigation and water supply projects, like the construction of dams, barrages, weirs, hydraulic structures, lift irrigation works, canals, water supply schemes, pipe distribution networks and other EPC projects.