LCC Projects Sets Stage for Major IPO Move

EPC company LCC Projects seeks Sebi's nod for a Rs 320 crore IPO, combining new shares and promoter sales. Gujarat-based, they've led engineering efforts in irrigation and water supply for two decades. Funds will bolster equipment, debt repayment, with Motilal Oswal as the exclusive issue advisor.

LCC Projects, a prominent name in the engineering, procurement, and construction sector, has moved closer to launching a major initial public offering (IPO). The Gujarat-based company filed the required preliminary papers with the Securities and Exchange Board of India (Sebi), aiming to secure approval for its fundraising plan.

The IPO is set to involve a fresh issuance of equity shares worth Rs 320 crore and an offer-for-sale (OFS) of 2.29 crore shares by the current promoters, Arjan Suja Rabari and Laljibhai Arjanbhai Ahir. LCC Projects may also explore a pre-IPO round to raise Rs 64 crore, which could adjust the size of the fresh issue.

LCC Projects, a leader in India's irrigation and water supply project segments, intends to use the IPO proceeds for purchasing equipment, debt repayment, and general corporate purposes. Over the past two decades, the company has managed a wide array of projects, making significant contributions to the sector. Motilal Oswal Investment Advisors is designated as the sole merchant banker for this significant issue.