New Delhi, Sep 17 (PTI) Shares of LCC Projects surged over 31 per cent in market debut trade on Thursday against the issue price of Rs 146.
The stock listed at Rs 191.90, surging 31.43 per cent from the issue price on the BSE.
At the NSE, the engineering, procurement and construction (EPC) company started trading at Rs 189, a premium of 29.45 per cent.
The company commanded a market valuation of Rs 5,004.07 crore.
LCC Projects’ initial public offering received 48.51 times subscription 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 had 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 for 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 DRR
