New Delhi, Sep 17 (PTI) Shares of engineering, procurement and construction (EPC) company LCC Projects surged over 18 per cent in market debut trade on Thursday against the issue price of Rs 146.
The stock listed at Rs 191.90 apiece at a premium of 31.43 per cent over the issue price on the BSE. Shares of the firm finally ended at Rs 172.75, up 18.32 per cent.
At the NSE, the stock opened at Rs 189 at a premium of 29.45 per cent. It ended at Rs 170.10, up 16.50 per cent from the issue price.
The company commanded a market valuation of Rs 5,004.07 crore.
LCC Projects’ initial public offering (IPO) was overall subscribed 48.51 times on Friday last week. The EPC company had fixed a price band of Rs 139-146 per share for its Rs 427-crore IPO.
LCC Projects
Ltd had raised Rs 128.14 crore from anchor investors.
The IPO comprised a fresh issue of equity shares, aggregating up to Rs 258 crore, and an offer-for-sale (OFS) of 1.16 crore shares.
Proceeds of the fresh issue will be used for the purchase of equipment, payment of debt and general corporate purposes.
LCC Projects is a multidisciplinary EPC company. Over two decades, the company has executed a wide range of projects in the irrigation and water supply segment, such as constructing dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes and other EPC projects. PTI SUM SHM
