India's LCC Projects hits lower circuit after 29% premium on debut

LCC Projects

17/09/2026 10:18

** Shares of LCC Projects LCCP.NS list at 189 rupees, a 29.5% premium to the issue price of 146 rupees
** Stock falls 10% from listing price to hit lower circuit at 170.10 rupees; remains 16.5% above issue price
** At current price, construction firm's market value stands at 50.78 bln rupees ($529.3 mln)
** Co's $49 million IPO was subscribed 48.5 times
** IPO comprised a fresh issue worth 2.58 bln rupees and an offer for sale of about 11.6 mln shares by existing shareholders
** Co plans to use fresh issue proceeds for debt repayment, equipment purchases and general corporate purposes
($1 = 95.9300 Indian rupees)

(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))