Friday, September 11, is the final day to bid for the ₹427 crore LCC Projects initial public offering . The issue had opened for subscription on Wednesday, September 9. Grey Market PremiumAs per reports, the grey market premium of LCC Projects in the unlisted market is now at ₹51, which indicates a listing premium between 34% and 37% from its IPO price of ₹139 to ₹146 apiece.
However, investors must keep in mind that GMP rates are speculative and the actual listing price could differ from it. Day 2 SubscriptionThe IPO was fully subscribed on its second day of bidding on Thursday. At the end of the second day of bidding, the IPO was subscribed 283.7% or 3.84 times the total shares on offer.
Non-institutional investors led the bidding on Day 2 as their portion was subscribed 5.23 times compared to the total number of shares reserved for them. NIIs have bid for 2.4 crore shares, compared to the 45.21 lakh shares reserved for them. Of them, the non-institutional investors, who bid in the ₹2 lakh to ₹10 lakh range, had the most bids, as their portion was subscribed 7.58 times to the number of shares reserved for them, bidding for 1.14 crore shares compared to the 15.07 lakh shares on offer.
They were followed by corporates, individuals and 'others' who bid more than ₹10 lakh for the issue, as their portion was subscribed 4.2 times the shares on offer. They bid for 1.26 crore shares so far versus 30.14 lakh shares on offer. The portion for retail individual investors, or those who bid up to ₹2 lakh for the issue, has been subscribed 4.69 times as of the second day.
Retail has bid for 4.94 crore shares compared to the 1.05 crore that were on offer for them. Meanwhile, qualified institutional buyers have bid for 67.69 lakh shares compared to the 58.54 shares on offer, taking the total subscription figure of 1.16 times.
Overview of the companyLCC Projects largely develops infrastructure projects for the government. It executes engineering, procurement and construction projects across the water supply and irrigation segment, including canals, dams, lift irrigation works, pipe distribution networks and water supply schemes.
At the end of March 2026, LCC Projects had an order book of ₹7,953.1 crore. TimelineSeptember 11: The LCC Projects shares will close for subscription. September 15: Allotment of shares of LCC Projects. September 17: Shares to likely list on the stock exchanges.