LEAP India IPO: Issue Subscribed 24% On Day 1 Till Now
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Logistics tech provider LEAP India’s IPO got off to a steady start on the first day of bidding. Investors placed bids for 2.71 Cr shares against a total offer size of 11.50 Cr shares on offer, translating to a 24% subscription, as of 14:30 IST.
The highest number of bids have come from qualified institutional buyers (QIBs) till now, who have placed bids for 1.99 Cr shares against the 3.28 Cr shares earmarked for them. This translates to a 61% subscription of their quota.
Following QIBs, retail investors have placed bids for 55.63 Lakh shares against the 5.75 Cr shares reserved for them. These investors have subscribed their quota by a mere 10% till now.
Non institutional investors (NIIs) have also only subscribed their quota by a mere 6% till now, placing bids for 15.88 Lakh shares against the 2.46 Cr shares reserved for them,
Employees’ reserve quota has been the most bullish on the company’s public float till now, subscribing their quota by 88%. These investors have placed bids for 73,038 shares against 82,781 shares earmarked for them.
Following the closure of the IPO, LEAP India will tentatively make its public markets debut on NSE and BSE on August 14 (Friday).
Ahead of the IPO, LEAP India raised ₹743.6 Cr from anchor investors yesterday. It also raised ₹371.3 Cr in a pre-IPO placement from GIC’s subsidiary Gamnat, Dymon Asia Multi-Strategy Investment and cofounder Sunu Mathew ahead of opening the IPO.
The logistics tech company’s public issue comprises a fresh issue of shares worth up to ₹480 Cr and an offer for sale of up to ₹2,000 Cr. At the upper end of the price band, the IPO values the company at ₹7,004.5 Cr (about $735 Mn).
Around ₹360 Cr from the fresh issue will be used to repay or prepay certain borrowings, while the remaining proceeds will be deployed for general corporate purposes.
LEAP India reported a 66% jump in net profit to ₹62.3 Cr in FY26 from ₹37.5 Cr in the previous year. Operating revenue zoomed 56% to ₹729.5 Cr in the year under review, from ₹466.5 Cr in FY25.
Founded in 2013 by Mathew, LEAP India provides supply chain solutions, including equipment pooling, returnable packaging, inventory management and movement, transportation, as well as repair and maintenance services.
The company caters to customers across industries such as FMCG, food and beverages, ecommerce, automotive and retail. In FY26, it served more than 1,000 customers, including Coca-Cola, Marico, Panasonic, Haier and Daikin.
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