LCC Projects
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 78.73×
- Big non-institutionalbNII · above ₹10 lakh
- 61.53×
- Small non-institutionalsNII · ₹2–10 lakh
- 71.66×
- Retail individualRII · up to ₹2 lakh
- 26.00×
Bids received
The demand behind each multiple — what was offered, what was bid for, and what those bids are worth
| Category | Shares offered | Shares bid for | Bids (₹ Cr) | Times |
|---|---|---|---|---|
| Qualified institutional | 58,51,247 | 46,06,57,806 | ₹6,726 Cr | 78.73× |
| Non-institutional | 43,88,435 | 28,48,56,624 | ₹4,159 Cr | 64.91× |
| Big non-institutionalwithin NII | 29,25,623 | 18,00,27,960 | ₹2,628 Cr | 61.53× |
| Small non-institutionalwithin NII | 14,62,812 | 10,48,28,664 | ₹1,531 Cr | 71.66× |
| Total | 2,04,79,363 | 1,01,52,31,806 | ₹14,822 Cr | 49.57× |
Times subscribed is the figure published for each category, not shares bid for divided by shares offered — a category's multiple is struck against its own allottable base, which is not always the offered count shown beside it. Observed 11 Sep, 05:09 pm IST; the registrar publishes the final basis of allotment.
Issue details
- IPO date
- 09 Sep 2026 – 11 Sep 2026
- Listing date
- 17 Sep 2026
- Face value
- ₹5 per share
- Price band
- ₹139 – ₹146
- Issue price
- ₹146 per share
- Lot size
- 102 shares
- Sale type
- Fresh capital cum OFS
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹427 Cr
- Fresh issue
- ₹258 Cr 1,76,71,232 shares
- Offer for sale
- ₹169 Cr 1,15,85,000 shares
- Market cap at offer price
- ₹4,229 Cr
- Promoter holding
- 100.00% → 89.90% pre-issue → post-issue
- ISIN
- INE1FPN01026
- CIN
- U45500GJ2017PLC100301
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Motilal Oswal Investment Advisors Ltd.
- Registered office
- LCC Corporate House, B/S GTPL House, Sindhu Bhavan Road, Bodakdev, Ahmedabad – 380 054, Gujarat, India
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 58,54,205 | 27.97% | 27.97% |
| Anchor investor · within QIB | 87,76,869 | — | 41.94% |
| NII (HNI) | 45,21,923 | 21.61% | 21.61% |
| bNII > ₹10L · within NII | 30,14,616 | — | 14.41% |
| sNII < ₹10L · within NII | 15,07,307 | — | 7.20% |
| Retail (RII) | 1,05,51,153 | 50.42% | 50.42% |
| Employee | 0 | — | 0.00% |
| Total issue | 2,09,27,281 | — | 100.00% |
Net offer to the public of 2,09,27,281 shares, out of a total issue of 2,09,27,281. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 102 shares per lot, in multiples, at ₹146
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 102 | ₹14,892 |
| Retail (max) | 13 | 1,326 | ₹1,93,596 |
| S-HNI (min) | 14 | 1,428 | ₹2,08,488 |
| S-HNI (max) | 67 | 6,834 | ₹9,97,764 |
| B-HNI (min) | 68 | 6,936 | ₹10,12,656 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 10.53 | 9.89 |
| P/E (×) | 13.87 | 14.76 |
| Price to book (×) | 6.56 | — |
| Market cap | — | ₹4,229 Cr |
Key performance indicators
- Return on net worth
- 36.96%
- ROCE
- 35.00%
- Debt / equity
- 1.23
- PAT margin
- 7.66%
- EBITDA margin
- 13.74%
- NAV per share
- ₹22.24
- Price to book
- 6.56
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 3,639.45 | 2,941.01 | 2,449.79 |
| Revenue from operations | 3,600.25 | 2,918.29 | 2,438.91 |
| Other income | 39.2 | 22.72 | 10.88 |
| Total expenses | 3,260.12 | 2,647.56 | 2,241.87 |
| Operating profit | 379.33 | 293.45 | 207.92 |
| Operating margin | 10.42% | 9.98% | 8.49% |
| Profit before tax | 378.37 | 293.53 | 172.42 |
| Profit after tax | 286.44 | 223.62 | 122 |
| PAT margin | 7.87% | 7.60% | 4.98% |
| Balance sheet | |||
| Total assets | 2,447.54 | 1,727.46 | 1,129.99 |
| Current assets | 2,094.13 | 1,401.6 | 848.43 |
| Current liabilities | 1,434.78 | 984.9 | 641.39 |
| Total liabilities | 1,554.29 | 1,120.68 | 746.62 |
| Net worth | 893.25 | 606.78 | 383.36 |
| Current ratio | 1.46× | 1.42× | 1.32× |
| Return on equity | 32.07% | 36.85% | 31.82% |
| Cash flow | |||
| Operating cash flow | 158.44 | 23.63 | 29.35 |
| Investing cash flow | -106.84 | -195.15 | -129.49 |
| Financing cash flow | 17.72 | 252.48 | 83.45 |
| Net cash flow | 69.32 | 80.95 | -16.69 |
Objects of the issue
1 Purchase of equipment ₹14.69 Cr
The company proposes to utilize funds towards purchase of equipment including SANY Model SKT105S Wide Body Dump Truck and SANY Model SY870LC-10HD HYDRAULIC EXCAVATOR for carrying out business operations based on order book and future requirements.
2 Prepayment and/or repayment of outstanding borrowings ₹180 Cr
The company intends to utilize funds for prepayment and/or repayment, in full or in part, of certain outstanding borrowings to reduce debt servicing costs, improve debt to equity ratio and enable utilization of internal accruals for business growth.
3 General corporate purposes —
The company plans to deploy balance funds towards general corporate purposes including strategic initiatives, funding growth opportunities, strengthening marketing capabilities, meeting ongoing contingencies and other purposes approved by the Board.
1 of 3 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About LCC Projects
LCC Projects Limited is an infrastructure engineering, procurement, and construction (EPC) company originally established as a partnership firm (M/s. Laxmi Construction Co.) and converted to a private limited company in 2017, subsequently becoming a public company in 2024. Over two decades, the company has executed a wide range of infrastructure projects including construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other infrastructure projects. The company generates revenue primarily through contracts awarded by state and central government departments, with 89.34% of revenue in Fiscal 2026 derived from government sources. Its business model is project-based, where the company bids for contracts through competitive tendering processes and executes projects on an EPC basis, earning revenue based on contract values which may include escalation clauses for material and labour cost variations. As of March 31, 2026, the company had an order book of ₹79,531.81 million and 103 ongoing projects across multiple states.
Management
Arjan Suja Rabari
MD
Laljibhai Arjanbhai Ahir
CEO
Strengths
As stated in the offer document
Multidisciplinary EPC company in India for irrigation and water supply projects
The company is a multidisciplinary EPC company in India, in terms of market share, in the irrigation and water supply projects segment, with a strong track record in successful project management, execution and timely completion of irrigation and water supply projects across India.
Strong Order Book and diversified project portfolio
The company's Order Book has grown from ₹ 62,689.68 million as of March 31, 2024 to ₹ 79,531.81 million as of March 31, 2026, with diversified business verticals ensuring continued diversification.
In-house project designing capabilities with robust technical knowledge
The company has an in-house design and engineering team comprising 698 qualified engineers and technical personnel as on July 31, 2026, with average work experience of over five years, enabling timely completion and cost reduction.
Strong risk management, project selection and dispute resolution processes
The company has established a comprehensive risk management system that assists in identifying, measuring and monitoring various risks, with experienced Senior Management responsible for analysing and evaluating all proposed new bids and investments.
Efficient business model
The company's growth is attributable to efficient business model involving careful project identification and cost optimisation, generating RoCE of 27.13% and RoE of 32.24% for Fiscal 2026.
Experienced management team and qualified personnel with significant industry experience
The company is led by Promoters with over 28 years and over 16 years of experience respectively, with many leadership team members working in the organization for over 10 years, enabling effective navigation of challenges.
Risk factors
As stated in the offer document
Inability to collect receivables outstanding from customers
The company's trade receivables have increased significantly, with amounts outstanding beyond six months from due date reaching ₹86.08 million (1.89% of total trade receivables) as of March 31, 2026. Delays in collection or inadequate recovery could adversely affect cash flows and working capital requirements.
Contingent liabilities exposure
The company has contingent liabilities totaling ₹1,299.86 million as of March 31, 2026, representing 14.63% of net worth. These include claims against the company (₹518.20 million), bank guarantees (₹673.49 million), and taxation matters (₹108.16 million).
Significantly higher debt-to-equity ratio compared to industry peers
The company's debt-to-equity ratio of 0.97 as of March 31, 2026 is considerably higher than industry peers, limiting operational flexibility and exposing the company to greater financial risk. This high leverage reduces funds available for working capital and growth investments.
Heavy dependence on top ten customers
Revenue concentration from top ten customers comprises 72.30% for Fiscal 2026, with the top three customers contributing 43.32% of revenue. This dependency on government departments creates significant customer concentration risk and potential revenue volatility.
Dependence on government projects and policy changes
The company derives 89.34% of revenue from government departments in Fiscal 2026, with 79.07% of order book from government projects. Any adverse changes in government policies, fiscal allocations, or infrastructure spending priorities could materially impact business operations.
Geographic concentration in Gujarat and Madhya Pradesh
A substantial portion of ongoing projects are concentrated in Gujarat (39.64% of revenue) and Madhya Pradesh (36.58% of revenue) for Fiscal 2026. This geographic concentration exposes the company to localized regulatory, political, and economic risks.
High employee attrition rate
The company experienced an attrition rate of 23.94% for Fiscal 2026, with 659 employees resigning during the year. High attrition could impact project execution capabilities and increase recruitment and training costs.
Competitive bidding pressure and low bid success rate
The company's bid success rate was only 13.53% in Fiscal 2026, declining from 22.89% in Fiscal 2024. Intense competition and aggressive pricing pressures in bidding processes could lead to reduced margins or project losses.
Company Analysis
from RHPLCC Projects Limited is an infrastructure company that executes irrigation and water supply projects, including canal construction, dams, barrages, and water distribution systems, primarily for government departments in India.
LCC Projects Limited is an infrastructure engineering, procurement, and construction (EPC) company originally established as a partnership firm (M/s. Laxmi Construction Co.) and converted to a private limited company in 2017, subsequently becoming a public company in 2024. Over two decades, the company has executed a wide range of infrastructure projects including construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other infrastructure projects. The company generates revenue primarily through contracts awarded by state and central government departments, with 89.34% of revenue in Fiscal 2026 derived from government sources. Its business model is project-based, where the company bids for contracts through competitive tendering processes and executes projects on an EPC basis, earning revenue based on contract values which may include escalation clauses for material and labour cost variations. As of March 31, 2026, the company had an order book of ₹79,531.81 million and 103 ongoing projects across multiple states.
Objects of the Issue
- Fresh Issue for general corporate purposes and working capital requirements ₹2,580.00 million p.3
- Purchase of equipment for contract requirements ₹146.91 million p.42
- Prepayment and/or repayment of outstanding borrowings up to ₹1,800.00 million p.50
- General Corporate Purposes p.58
- Purchase of equipment ₹146.91 million p.99
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company ₹1,800.00 million p.99
- General corporate purposes p.99
- Fresh issue of capital for the proposed initial public offering Up to ₹3,200 million p.335
Issue Structure
- Total Issue
- Up to [●] Equity Shares of face value of ₹5 each aggregating up to ₹ [●] million
- Fresh Issue
- Up to [●] Equity Shares of face value of ₹5 each aggregating up to ₹ 2,580.00 million
- Offer for Sale
- Up to 11,585,000 Equity Shares of face value of ₹5 each aggregating up to ₹ [●] million
- Price Band
- [●] per Equity Share (Floor Price: [●], Cap Price: [●])
- Lot Size
- [●] Equity Shares
- Face Value
- ₹5 per Equity Share
Business Model
Project-based EPC (Engineering, Procurement, and Construction) contracting. The company bids for infrastructure projects awarded primarily by government departments through competitive tendering. Revenue is earned based on contract values for project execution, with potential escalation clauses for material and labour cost increases. The company typically acts as principal contractor and engages sub-contractors for certain aspects of work execution.
Business Segments
SWOT Analysis
- • Multidisciplinary EPC company with in-house project designing capabilities(p.117)
- • Strong order book and diversified project portfolio providing revenue visibility(p.117)
- • Experienced management team with significant industry experience(p.117)
- • Robust risk management and project selection processes(p.117)
- • Efficient business model(p.117)
- • Strong financial metrics with high return on equity(p.119)
- • Leading market position in irrigation and water supply EPC segment(p.191)
- • Strong revenue growth trajectory with 21.50% CAGR(p.190)
- • Robust PAT growth at 53.23% CAGR(p.190)
- • Substantial order book covering 2.21x of FY26 turnover(p.179)
- • Established track record with 80+ completed projects(p.191)
- • Geographic diversification across 12 states(p.190)
- • Strong EBITDA growth and margin expansion(p.190)
- • Advanced technological capabilities for project execution(p.180)
- • Strong and growing order book with diversified portfolio across business verticals(p.192)
- • In-house design and engineering capabilities with qualified technical personnel(p.193)
- • Robust risk management and project selection processes(p.193)
- • Efficient business model with strong financial returns(p.194)
- • Experienced promoters and stable management team with deep sector expertise(p.194)
- • Advanced technology infrastructure for design and project execution(p.193)
- • Integrated inventory management system for efficient resource management(p.194)
- • Experienced senior management team with extensive construction and irrigation expertise(p.251)
- • Strong financial position with growing revenue and profitability(p.265)
- • Diversified revenue streams across construction, O&M, and goods(p.299)
- • Established relationships with government authorities as primary customers(p.294)
- • Solid management structure with Risk Management Committee oversight(p.249)
- • Strong government customer base providing revenue security(p.312)
- • Highly consistent and growing profitability with strong margins(p.342)
- • Experienced leadership with strong industry expertise(p.342)
- • Substantial order book providing revenue visibility(p.338)
- • Geographic diversification reducing concentration risk(p.342)
- • Large modern equipment base and technical capability(p.342)
- • Access to adequate credit facilities with reaffirmed ratings(p.368)
- • Strong operating cash flow generation in recent fiscal year(p.368)
- • Government land acquisition delays and dependence on customer delivery(p.42)
- • Rapid business growth straining management and operational infrastructure(p.42)
- • Large and growing unbilled revenue exposure to collection and estimation risks(p.44)
- • Heavy reliance on non-fund-based bank guarantees creating contingent liability risk(p.50)
- • High proportion of current liabilities creating liquidity and refinancing risk(p.50)
- • Significant outstanding dues to creditors including MSMEs(p.50)
- • Unsecured borrowings repayable on demand creating liquidity pressure(p.50)
- • High dependence on Promoters for business operations and growth(p.51)
- • Significant outstanding borrowings requiring management(p.119)
- • Dependence on concentrated customer base and order book(p.117)
- • High debt-to-equity ratio indicating financial leverage(p.119)
- • High dependence on government irrigation and water supply projects(p.191)
- • Concentration of revenue in limited number of large projects(p.186)
- • Limited presence in emerging business segments(p.191)
- • Significant debt obligations relative to equity(p.191)
- • High dependence on few major customers, particularly government departments(p.210)
- • Concentrated geographic revenue, with Madhya Pradesh and Gujarat dominating business(p.192)
- • Heavy reliance on specific suppliers for critical materials(p.208)
- • Insurance coverage may not adequately protect against all material hazards(p.212)
- • High leverage with significant short-term borrowings relative to long-term debt(p.310)
- • Reliance on floating-rate borrowings creating earnings volatility(p.311)
- • Heavy concentration of shareholders with two promoters holding 82% equity(p.254)
- • Recent rapid changes in key managerial personnel appointments(p.253)
- • No employee stock option plan in place(p.253)
- • Significant revenue concentration among top 10 customers(p.344)
- • High dependence on raw material supplier concentration(p.346)
- • Significant increase in borrowing debt over recent years(p.343)
- • Rising contingent liabilities from contract disputes and guarantees(p.334)
- • High dependence on major customers for significant revenue(p.373)
- • Substantial short-term debt obligations due within 12 months(p.374)
- • Significant contingent liabilities and disputed tax matters(p.370)
- • Lender consent requirements restrict strategic flexibility(p.370)
- • Diversification into renewable energy and other infrastructure segments(p.45)
- • Geographic expansion across Indian states to reduce regional concentration(p.46)
- • Operations and maintenance (O&M) projects offering higher margins(p.45)
- • Jal Jeevan Mission government program driving water supply demand(p.42)
- • Massive government infrastructure investment in irrigation and water supply(p.135)
- • National Infrastructure Pipeline targeting significant irrigation investment(p.135)
- • Government focus on water management and interlinking of rivers(p.135)
- • Increased public capital expenditure supporting infrastructure growth(p.135)
- • Jal Jeevan Mission and water supply expansion across rural India(p.135)
- • Strong India GDP growth trajectory at 6.5-7.6% annually(p.132)
- • Expansion of irrigation infrastructure under government schemes(p.147)
- • Growth in micro-irrigation adoption across India(p.146)
- • Expansion of water supply and sanitation infrastructure(p.157)
- • Urban infrastructure development including metro rail projects(p.161)
- • Increasing private sector participation in infrastructure through PPP models(p.164)
- • Growth in renewable energy infrastructure including hydropower(p.152)
- • Expansion of inland waterways and canal infrastructure(p.154)
- • Expanding geographic footprint across new states in India(p.195)
- • Strong tailwinds in irrigation sector driven by government schemes and food security needs(p.195)
- • Diversification into new EPC segments including renewable energy and infrastructure(p.195)
- • Opportunity to win larger and more complex projects with higher margins(p.196)
- • Growing demand for water infrastructure given India's limited water resources(p.195)
- • Technology-driven cost optimization and operational efficiency improvements(p.196)
- • Expansion into water and wastewater treatment infrastructure(p.269)
- • Organic growth through contract revenue expansion(p.308)
- • Unbilled revenue backlog indicating strong pipeline(p.295)
- • Geographic expansion across multiple states through regional operations(p.251)
- • Large expansion into renewable energy projects(p.346)
- • Growing order book from government irrigation and water supply projects(p.343)
- • Increasing private sector project opportunities(p.343)
- • Potential to leverage project execution expertise for new project types(p.337)
- • Expansion of existing project operations and modernization(p.376)
- • Growth through new project implementation and investment(p.376)
- • Regulatory changes in environmental, health and safety laws increasing compliance costs(p.48)
- • Competition from established players in core and diversified segments(p.45)
- • Interest rate volatility increasing debt servicing costs(p.52)
- • Price volatility of construction materials and commodities(p.54)
- • Joint venture partner non-performance creating project execution risk(p.44)
- • Political, economic and macro-economic uncertainty in India(p.60)
- • Natural calamities and health pandemics disrupting operations(p.61)
- • Variations in funding requirements and deployment of net proceeds may affect business(p.100)
- • Exposure to Indian monsoon variability and climate risks(p.134)
- • Global macroeconomic uncertainties and geopolitical risks(p.132)
- • Potential forex and input price fluctuations affecting project costs(p.100)
- • Regulatory and policy changes affecting infrastructure sector(p.100)
- • Middle East conflict creating inflation and supply chain risks(p.134)
- • Cyclical nature of irrigation and government project funding(p.142)
- • Complex regulatory and environmental clearances for project execution(p.172)
- • Risk of project delays and cost overruns(p.172)
- • Competition from established large EPC companies(p.182)
- • Geographical and environmental challenges in project execution(p.172)
- • Skilled labor shortage in infrastructure sector(p.172)
- • Climate vulnerability impacting water resources availability(p.156)
- • Order book may not be indicative of future results and actual income could be significantly less(p.204)
- • Competitive nature of the multidisciplinary EPC industry in India(p.210)
- • Project execution risks including time and cost overruns(p.193)
- • Weather and natural calamities impacting project timelines(p.195)
- • Dependence on government decision-making for project allocation and tender processes(p.205)
- • Dependence on government authorities as majority customers creating policy risk(p.294)
- • Exposure to commodity price volatility in construction materials(p.311)
- • Interest rate sensitivity with majority borrowings at floating rates(p.311)
- • Regulatory changes affecting construction and irrigation sectors(p.249)
- • Liquidity risk from working capital intensive operations(p.310)
- • Heavy dependence on government policies and budgetary decisions(p.343)
- • Risk of project execution delays and cost overruns(p.344)
- • Potential project cancellations and termination risks(p.344)
- • Customer payment delays affecting working capital(p.344)
- • Inflation and raw material price volatility impacts(p.346)
- • Exposure to commodity price volatility in core materials(p.371)
- • Interest rate risk on variable rate borrowings(p.371)
- • Business subject to seasonal fluctuations and climatic factors(p.373)
- • Requirement to maintain restrictive financial covenants with lenders(p.376)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Arjan Suja Rabari | Promoter/Promoter Selling Shareholder | — | — |
| Laljibhai Arjanbhai Ahir | Promoter/Promoter Selling Shareholder | — | — |
| Maya Arjan Rabari | Promoter | — | — |
| Arjan Suja Rabari | Promoter/Chairman and Managing Director | — | — |
| Laljibhai Arjanbhai Ahir | Promoter/Managing Director | — | — |
| Arjan Suja Rabari | Promoter | 41.00% | — |
| Laljibhai Arjanbhai Ahir | Promoter | 41.00% | — |
| Maya Arjan Rabari | Promoter | Negligible | — |
| Sejuben Arjanbhai Rabari | Promoter Group | 9.00% | — |
| Geeta Lalji Ahir | Promoter Group | 9.00% | — |
| Mansi Arjan Rabari | Promoter Group | Negligible | — |
| Meet Lalji Ahir | Promoter Group | Negligible | — |
| Kanchi Lalji Ahir | Promoter Group | Negligible | — |
| Arjan Suja Rabari | Promoter | — | — |
| Laljibhai Arjanbhai Ahir | Promoter | — | — |
| Arjan Suja Rabari | Promoter/Chairman and Managing Director | 41.00% | — |
| Laljibhai Arjanbhai Ahir | Promoter/Managing Director | 41.00% | — |
| Arjan Suja Rabari | Promoter | 41.00% | — |
| Laljibhai Arjanbhai Ahir | Promoter | 41.00% | — |
| Maya Arjan Rabari | Promoter | Negligible | — |
| Arjan Suja Rabari | Promoter/Chairman and Managing Director | — | — |
| Lalji Arjan Ahir | Promoter/Managing Director | — | — |
| Arjan Suja Rabari | Promoter Selling Shareholder | — | — |
| Laljibhai Arjanbhai Ahir | Promoter Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Peer comparison
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| LCC Projects THIS ISSUE | 10.42 | 32.66 | 14.76, computed at the offer price | 6.56, computed at the offer price | 32.24% |
| −12.04 | 50.54 | — | — | — | |
| 10.42 | 70.23 | 19.14 | — | 15.28% |
Blank cells are figures the offer document does not publish. This issue is unlisted, so it has no market price and the document publishes no multiple for it — its P/E and P/BV here are computed at the offer price, on the post-issue share count, and are comparable to a listed peer's.