LCC Projects IPO oversubscribed 48.51 times to list at ₹190
Business
LCC Projects is set to make its stock market debut this Thursday, with shares expected to list at ₹190, well above the original price of ₹146.
The IPO was a big hit, subscribed 48.51 times, and aims to raise ₹427 crore for business growth and paying off debts.
Bids for 101.52 cr shares
Investor interest was huge: there were bids for 101.52 crore shares, even though 2.09 crore were available.
Big institutions led the charge, but retail investors also showed strong enthusiasm.
LCC Projects plans to use the money raised for expanding its business, improving finances, and covering day-to-day needs.