LEAP India IPO: Price Band, Lot Size, Financials & Review
LEAP India IPO listed on BSE & NSE on Fri, 14 Aug 2026. The issue was subscribed 8.82x overall.
- Open Date
- 7 Aug 2026
- Close Date
- 11 Aug 2026
Last updated
- Price band
- ₹151 – ₹159
- Lot size
- 94 shares
- Min. investment
- ₹14,946
- Issue size
- ₹2,480 Cr
- Last GMP
- +₹13
- Subscribed
- 🔥 8.82x
LEAP India IPO details
LEAP India IPO is a ₹2,480 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It combines a fresh issue of ₹480 Cr (19.35%) with an offer for sale of ₹2,000 Cr (80.65%) by existing shareholders. Only the fresh issue money goes to the company.
The issue was open from Fri, 7 Aug 2026 to Tue, 11 Aug 2026. Allotment was finalised on Wed, 12 Aug 2026, and the shares listed on BSE & NSE on Fri, 14 Aug 2026.
The price band is ₹151 to ₹159 per share and the lot size is 94 shares, so the minimum retail application is ₹14,946. Retail investors can apply for up to 13 lots (1,222 shares, ₹1,94,298).
MUFG Intime India Pvt Ltd is the registrar, and IIFL Capital Services Limited, Avendus Capital Pvt.Ltd., JM Financial Limited and UBS Securities India Private Limited are the book running lead managers.
Grey market premium (GMP)
Day-wise GMP →The last LEAP India IPO GMP before listing was +₹13 (+8.18% against the upper price band of ₹159), implying an estimated listing price of ₹172. Across 10 days of tracking, GMP ranged from +₹3 (05 Aug) to +₹19 (06 Aug).
| Last GMP | +₹13 |
|---|---|
| GMP vs upper band | +8.18% |
| Estimated listing price | ₹172 |
| Highest (06 Aug) | +₹19 |
| Lowest (05 Aug) | +₹3 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the LEAP India IPO day-wise GMP.
Subscription
Day-wise subscription →LEAP India IPO was subscribed 8.82x overall: QIB 17.73x, NII 13.31x and retail 1.80x.
| Category | Subscribed |
|---|---|
| QIB | 17.73x |
| NII | 13.31x |
| └ bNII (above ₹10 lakh) | 14.49x |
| └ sNII (₹2–10 lakh) | 10.93x |
| Retail | 1.80x |
| Employees | 11.57x |
| Total | 8.82x |
Final figures at the close of bidding on 11 Aug 2026. Category-wise bids, application-wise breakup and allotment chances are on the LEAP India IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 4,67,68,854 | 29.98% |
| Qualified Institutions | 3,11,79,259 | 19.99% |
| Non-Institutional | 2,33,84,434 | 14.99% |
| └ BNII | 1,55,89,623 | 9.99% |
| └ SNII | 77,94,811 | 5.00% |
| Retail Investors | 5,45,63,679 | 34.98% |
| Employees | 78,616 | 0.05% |
| Total | 15,59,74,842 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
LEAP India IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 94 | ₹14,946 |
| Retail (Max) | 13 | 1,222 | ₹1,94,298 |
| S-HNI (Min) | 14 | 1,316 | ₹2,09,244 |
| S-HNI (Max) | 66 | 6,204 | ₹9,86,436 |
| B-HNI (Min) | 67 | 6,298 | ₹10,01,382 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹480 Cr (19.35%) with an offer for sale of ₹2,000 Cr (80.65%) by existing shareholders. Only the fresh issue money goes to the company.
At the upper price band of ₹159, the issue is priced at 104.61x pre-issue earnings and 111.97x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Promoter holding falls from 90.04% before the issue to 55.43% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹1.52 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 104.61x |
| EPS (post-issue) EPS on the enlarged share capital | ₹1.42 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 111.97x |
| Promoter holding (pre-issue) | 90.04% |
| Promoter holding (post-issue) | 55.43% |
LEAP India Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹485.03 Cr to ₹747.36 Cr, and profit after tax rose from ₹37.56 Cr to ₹62.34 Cr. The PAT margin for 31 Mar 2026 was 8.34%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 2,401.05 | 2,042.46 | 1,400.28 |
| Total Income | 747.36 | 485.03 | 371.94 |
| Profit After Tax | 62.34 | 37.56 | 37.17 |
| EBITDA | 378.83 | 273.80 | 209.92 |
| Net Worth | 1,006.33 | 917.35 | 714.18 |
| Reserve & Surplus | 678.78 | 606.09 | 521.84 |
| Total Borrowings | 1,017.73 | 801.66 | 513.07 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 6.48 | 4.60 | 5.79 |
| ROCE % | 19.06 | 18.01 | 20.33 |
| Debt / Equity | 1.01 | 0.87 | 0.72 |
| RoNW % | 6.19 | 4.09 | 5.21 |
| Pat Margin % | 8.34 | 7.74 | 9.99 |
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Repayment / prepayment, in full or in part, of certain borrowings availed by our Company |
| 2 | General corporate purposes |
About LEAP India Limited
Incorporated in 2013, LEAP India Limited is one of India's leading providers of sustainable supply chain and asset-pooling solutions. The company offers a comprehensive range of services, including equipment pooling, returnable packaging, inventory management, transportation, and repair & maintenance, helping businesses optimize supply chain efficiency while reducing costs and environmental impact.
In 2023, global investment firm KKR acquired a majority stake in LEAP India as part of its Asia infrastructure strategy, further strengthening the company's growth prospects and market position.
Products and Solutions
LEAP India provides a broad portfolio of supply chain and material handling solutions, including:
- Pallets: Durable and recyclable wooden pallets with a load-bearing capacity of up to 5 tons, designed for efficient storage, handling, and transportation of goods.
- Containers: Reusable, foldable, and stackable containers that enable safe storage, material handling, and streamlined supply chain operations.
- Material Handling Equipment (MHE): A wide range of industrial equipment, including forklifts, used for lifting, moving, loading, unloading, and stacking materials efficiently.
- Articulated Forklifts: Compact forklifts designed to operate in narrow warehouse aisles, improving storage density and warehouse space utilization.
- Very Narrow Aisle (VNA) Forklifts: Specialized forklifts engineered for high-density warehouses, allowing efficient operations in ultra-narrow aisles and high-rack storage environments.
Customer Base and Industry Presence
LEAP India serves a diversified customer base across multiple industries, including:
- Fast-Moving Consumer Goods (FMCG)
- Food & Beverage (F&B)
- Third-Party Logistics (3PL)
- E-commerce and Quick Commerce
- Automotive
- Industrial Manufacturing
- Consumer Durables
As of March 31, 2026, the company had established partnerships with more than 1,000 customers, including several leading blue-chip companies. Its customer portfolio includes prominent organizations such as Hindustan Coca-Cola Beverages Private Limited, Marico Limited, Toll (India) Logistics Private Limited, Daikin Airconditioning India Private Limited, and Panasonic Life Solutions India Private Limited, among others.
Sustainability and ESG
Sustainability is a core component of LEAP India's business model. The company integrates Environmental, Social, and Governance (ESG) principles into its operations by emphasizing responsible sourcing practices and designing reusable, returnable, and recyclable products that promote circular supply chains and reduce environmental impact.
Workforce
As of March 31, 2026, LEAP India employed 419 permanent employees and 2,062 Material Handling Equipment (MHE) operators, supporting its nationwide operations and customer service network.
Promoters
- Sunu Mathew
- Vertical Holdings II Pte. Ltd.
Contact details
LEAP India Ltd.
14th Floor
Commerz, International Business Park Oberoi Garden
Off Western Express Highway,
Goregaon, Maharashtra, 400063
Phone: +91 22 6958 8700
Email: compliance@leapindia.net
Website: http://www.leapindia.net/
LEAP India IPO FAQs
- What is the LEAP India IPO price band?
- The LEAP India IPO price band is ₹151 to ₹159 per share.
- What is the LEAP India IPO lot size and minimum investment?
- The LEAP India IPO lot size is 94 shares. The minimum retail investment is ₹14,946 for one lot at the upper price band. Retail investors can apply for up to 13 lots (1,222 shares), costing ₹1,94,298.
- When was LEAP India IPO open for subscription?
- LEAP India IPO was open for subscription from Fri, 7 Aug 2026 to Tue, 11 Aug 2026.
- What is the LEAP India IPO subscription status?
- LEAP India IPO was subscribed 8.82x overall: QIB 17.73x, NII 13.31x and retail 1.80x. Day-wise and category-wise figures are on the subscription page.
- What was the LEAP India IPO GMP before listing?
- The last LEAP India IPO GMP before listing was +₹13 (+8.18% against the upper price band of ₹159), implying an estimated listing price of ₹172. Across 10 days of tracking, GMP ranged from +₹3 (05 Aug) to +₹19 (06 Aug). GMP is an unofficial grey market indicator and can change quickly.
- What is the LEAP India IPO allotment date?
- The LEAP India IPO basis of allotment was finalised on Wed, 12 Aug 2026. You can check your allotment status on the MUFG Intime India Pvt Ltd website.
- What is the LEAP India IPO listing date?
- LEAP India IPO listed on BSE & NSE on Fri, 14 Aug 2026.
- Is the LEAP India IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹480 Cr (19.35%) with an offer for sale of ₹2,000 Cr (80.65%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the LEAP India IPO?
- The registrar for the LEAP India IPO is MUFG Intime India Pvt Ltd, and the book running lead managers are IIFL Capital Services Limited, Avendus Capital Pvt.Ltd., JM Financial Limited and UBS Securities India Private Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.