Gujarat-based EPC company LCC Projects has filed its draft red herring prospectus (DRHP) with SEBI on February 21 as it plans to raise funds through an initial public offering (IPO).
As per the DRHP, the IPO will consist of a fresh issue of equity shares with a face value of Rs 320 crore and an offer-for-sale (OFS) of 2.29 crore shares by the promoters. The promoters, Arjan Suja Rabari and Laljibhai Arjanbhai Ahir, will offload 1.14 crore equity shares each as a part of the OFS.
The firm can also seek to mobilize Rs 64 crore via a pre-IPO placement. If the pre-IPO funding occurs, the fresh issue size will be appropriately smaller.
LCC Projects, based in Ahmedabad, has been in the irrigation and water supply industry for more than two decades. It has executed prestigious projects such as dams, barrages, weirs, hydraulic structures, canals, pipe distribution systems, lift irrigation works, and water supply schemes.
The company’s order book as of September 2024 stood at Rs 7,347.4 crore, against Rs 6,269 crore as of March 2024. The company has shown strong financial growth, with revenue growing at a 76.73 percent CAGR and profit at 85.81 percent CAGR over FY22-FY24. LCC Projects revenue in FY24 stood at Rs 2,438.9 crore and profit at Rs 122 crore. Its EBITDA (earnings before interest, tax, depreciation, and amortization) also recorded a CAGR of 67.26 percent, at Rs 241.4 crore in FY24.
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Source: Moneycontrol
News Desk
