LCC Projects Limited Files DRHP with SEBI for IPO to Raise Funds

Bengaluru: LCC Projects Limited, a leading EPC company, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

The proposed IPO will consist of a fresh issue of equity shares worth Rs. 320 crore and an offer-for-sale (OFS) of 2.29 crore shares by promoters Arjan Suja Rabari and Laljibhai Arjanbhai Ahir.

The proceeds from the fresh issue will be utilized for purchasing equipment, debt repayment, and general corporate purposes.

LCC Projects is a prominent player in the irrigation and water supply projects segment, with a track record of executing diverse projects over two decades.

Motilal Oswal Investment Advisors has been appointed as the sole merchant banker for the issue.