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IPO Open

Fri, Aug 7, 2026

IPO Close

Tue, Aug 11, 2026

Price Band

₹151 to ₹159

Market Cap (Pre-IPO)

₹7,004.53 Cr(on Upper Price)

IPO Details

  • IPO Date
    7 to 11 Aug, 2026
  • Listing Date
    Fri, Aug 14, 2026
  • Face Value
    ₹1 per share
  • Price Band
    ₹151 to ₹159
  • Lot Size
    94 Shares
  • Sale Type
    Fresh capital cum OFS
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE, NSE
  • Total Issue Size
    15,59,74,842 shares (agg. up to ₹2,480 Cr)
  • Fresh Issue
    3,01,88,679 shares (agg. up to ₹480 Cr)
  • Offer for Sale
    12,57,86,163 shares of ₹1 (agg. up to ₹2,000 Cr)
  • Share Holding Pre Issue
    41,03,47,780 shares
  • Share Holding Post Issue
    44,05,36,459 shares

IPO Timetable (Tentative)

  • IPO Open
    Fri, Aug 7, 2026
  • Allotment
    Wed, Aug 12, 2026
  • Credit of Shares
    Thu, Aug 13, 2026
  • IPO Close
    Tue, Aug 11, 2026
  • Refund
    Thu, Aug 13, 2026
  • Listing
    Fri, Aug 14, 2026

Issue Reservation

Investor Category Shares
QIB Not more than 50% of the Net Offer
Retail Not less than 35% of the Net Offer
NII Not less than 15% of the Net Offer

PO Lot Size

Investors can bid for a minimum of 94 shares and in multiples thereof.

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

Investor Category Reservations

Category Limit Cut-off
RII Up to ₹2 Lakhs Yes
sNII ₹2 Lakhs – ₹10 Lakhs No
bNII Above ₹10 Lakhs No
Employee (EMP) Up to ₹5 Lakhs Yes
Employee + RII/NII Up to ₹5Lakhs (EMP) + RII/NII limits Yes (EMP/RII)

About LEAP India Ltd.

Incorporated in 2013, LEAP India Ltd specializes in sustainable supply chain and asset-pooling solutions. It offers services including equipment pooling, returnable packaging, inventory management, transportation, and repair & maintenance across industries like e-commerce, FMCG, automotive, and consumer durables. Global investment firm KKR acquired a majority stake in LEAP India in 2023, aligning with its Asia infrastructure strategy

Offerings:

  • Pallets: Durable, recyclable wooden pallets with up to 5-ton load capacity for efficient storage, handling, and transportation.
  • Containers: Reusable, foldable, and stackable containers designed for safe storage, material handling, and supply chain operations.
  • Material Handling Equipment (MHE): Industrial equipment, including forklifts, for efficient lifting, moving, loading, and stacking of materials.
  • Articulated Forklifts: Compact forklifts designed for narrow aisles, improving warehouse space utilization and pallet handling.
  • VNA (Very Narrow Aisle) Forklifts: Specialized forklifts for high-density warehouses, enabling efficient operations in ultra-narrow aisles and high-rack storage.

The company serve a diverse customer base spanning sectors such as fastmoving consumer goods (“FMCG”), food and beverage (“F&B”), third-party logistics (“3PL”), e-commerce and quick commerce, automotive, industrials and others. The company incorporated ESG considerations into the business by focusing on responsible sourcing and product design that supports sustainability.

The company established partnerships with more than 1,000 customers as of March 31, 2026, including with blue-chip companies across various industries. The customer list includes reputed companies such as Hindustan Coca-Cola Beverages Private Limited, Marico Limited, Toll (India) Logistics Private Limited, Daikin Airconditioning India Private Limited, Panasonic Life Solutions India Private Limited, among others.

As of March 31, 2026, the company had 419 permanent employees and 2,062 MHE operators.

Competitve Strengths:

  • Industry with multi-decadal and rapid growth story
  • Largest on-demand supply chain asset pooling company, in an industry with high barriers to entry
  • Trusted supply chain partner equipped to meet evolving customer needs with a focus on quality and sustainability
  • Highly resilient business model with a blue-chip customer base across high growth sectors

Company Financials (Restated Consolidated)

LEAP India Ltd.’s revenue increased by 54% and profit after tax (PAT) rose by 66% between the financial year ending with March 31, 2026 and March 31, 2025. (Amount in ₹ Crore)

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
Reserves and Surplus 678.78 606.09 521.84
Total Borrowing 1,017.73 801.66 513.07

Recently Listed IPOs in Other Consumer Services

Company Issue Type Issue Size Issue Price PE Ratio Listing Day Close Listing Gain/Loss % LTP
Safecure Services Ltd. SME ₹30.60 Cr ₹102 11.66 ₹77.55 -23.97% ₹22.77
NIS Management Ltd. SME ₹60.01 Cr ₹111 9.13 ₹102.60 -7.57% ₹44.00

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # Issue Objects
    Est Amt (₹ Cr.)
  • 1 Repayment / prepayment, in full or in part, of certain borrowings availed by the Company
    360.00
  • 2 General Corporate Purposes
  • Total
    360.00

Key Performance Indicator (KPI)

Key Performance Indicator (KPI)

KPI Mar 31, 2026
ROE 6.48%
ROCE 19.06%
Debt/Equity 1.01
RoNW 6.19%
PAT Margin 8.34%
EBITDA Margin 50.69%
NAV 24.52
Price to Book Value 6.48

IPO Valuation

Valuation Metric Pre IPO Post IPO
EPS (₹) 1.52 1.42
P/E (x) 104.61 111.97
Market Cap at Offer Price ₹6524.53 Cr. ₹₹7,004.53 Cr Cr.
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

Shareholding Structure

Pre IPO Post IPO
Shares % Shares %
Promoter and Promoter Group 39,28,15,012 95.42
Others* 1,75,32,768 4.58
Total 41,03,47,780 100 44,05,36,459 100

*Others shareholder category includes public and Non Promoter-Non Public shareholders.

Company Promoters:

  • Sunu Mathew
  • Vertical Holdings II Pte.Ltd.

Offer For Sale – Selling Shareholders

Name Category Estimated Amount (₹ cr.)
Vertical Holdings II Pte.Ltd. Promoter 1,998.62
KIA EBT Scheme 3 Promoter 1.38
Total 2,000.00

*Estimated Amount (₹ cr.) shown until the actual number of shares offered in OFS is entered.

IPO Registrar

MUFG Intime India Pvt.Ltd.

IPO Lead Manager(s)

  1. JM Financial Ltd.  (Past IPO Performance)
  2. Avendus Capital Pvt.Ltd.  (Past IPO Performance)
  3. IIFL Capital Services Ltd.  (Past IPO Performance)
  4. UBS Securities India Pvt.Ltd.  (Past IPO Performance)

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

LEAP India Ltd. Address
14th Floor
Commerz, International Business Park Oberoi Garden
Off Western Express Highway,
Goregaon, Maharashtra, 400063

IPO FAQs

LEAP India IPO is a main-board IPO of 15,59,74,842 equity shares of the face value of ₹1 aggregating up to ₹2,480 Crores. The issue is priced at ₹151 to ₹159. The minimum order quantity is 94.

The IPO opens on Fri, Aug 7, 2026, and closes on Tue, Aug 11, 2026.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel One customers can apply online in LEAP India IPO using UPI as a payment gateway. Angel Onecustomers can apply in LEAP India IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in LEAP India IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘LEAP India IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The LEAP India IPO opens on Fri, Aug 7, 2026 and closes on Tue, Aug 11, 2026.

LEAP India IPO lot size is 94, and the minimum amount required for application is ₹14,946.

You can apply in LEAP India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for LEAP India IPO will be done on Wednesday, August 12, 2026, and the allotted shares will be credited to your demat account by Thu, Aug 13, 2026. Check the LEAP India IPO allotment status.

The LEAP India IPO listing date is not yet announced. The tentative date of listing is Fri, Aug 14, 2026.

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