LCC Projects IPO grey market premium (GMP) rose to 34 percent on Friday as the issue witnessed strong subscription in the primary market.
The Gujarat-based engineering, procurement and construction (EPC) company received bids for 19.14 crore shares against 2.09 crore shares on offer, translating into a subscription of 9.15 times till 11:50 am.
The company has fixed a price band of Rs 139-146 per share for its Rs 427-crore initial public offering (IPO).
Earlier, the company raised Rs 128.14 crore from anchor investors.
The Rs 427-crore IPO opened for subscription on September 9 and closes on September 11.