LCC Projects Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CARE Ratings Limited, confirms that the utilization of funds raised through its Initial Public Offering (IPO) is in line with the disclosures made in the offer document. The company stated that ₹42.66 crore was utilized for issue expenses, loan prepayment, and GCP purposes, as approved.
LCC Projects Submits Monitoring Agency Report
LCC Projects Limited has submitted the Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report was prepared by CARE Ratings Limited, the appointed Monitoring Agency. The submission ensures transparency and accountability regarding the utilization of funds raised during the company’s Initial Public Offering (IPO).
Fund Utilization Overview
According to the report, the company has utilized ₹42.66 crore from the IPO proceeds. These funds were allocated towards various purposes, including issue expenses, prepayment of loans, and General Corporate Purposes (GCP), which aligns with the utilization plans outlined in the company’s offer document. The report was reviewed and approved by the Audit Committee and the Board of Directors of LCC Projects Limited on October 30, 2026.
Key Financial Details
The total IPO issue size was ₹427.14 crore. For the quarter ended September 30, 2026, the amount utilized for issue expenses was ₹14.07 crore. For prepayment and repayment of borrowings, ₹28.59 crore was utilized. The company has also allocated funds for the purchase of equipment (₹14.69 crore) and General Corporate Purposes (₹41.73 crore). A significant portion of the funds, ₹215.34 crore, remains unutilized and is deployed in LCC Projects Limited’s Public Issue Account and Monitoring Account with Kotak Mahindra Bank.
Implementation Progress
The report indicates no delays in the implementation of the objects as per the offer document. The proposed completion date for prepayment and repayment of borrowings, purchase of equipment, and General Corporate Purposes is March 31, 2027, with the current status being ‘Ongoing’ and no delays encountered.
Source: BSE
