[Update] LEAP India IPO Closes With 8.38X Oversubscription

Update | August 11, 19:42 IST

Logistics tech company LEAP India’s IPO closed today after receiving strong interest. The public issue was oversubscribed 8.38X at the end of the final day, with investors bidding for 96.32 Cr shares against the 11.49 Cr shares on offer.

Qualified institutional buyers (QIBs) showed the highest interest in the IPO, with the portion reserved for them ending day three with a 16.84X oversubscription. These investors placed bids for 55.29 Cr shares against the 3.28 Cr shares reserved for them. 

Meanwhile, non institutional investors (NIIs) oversubscribed their quota by 12.64X, placing bids for 31.12 Cr shares against 2.46 Cr shares reserved for them. 

Interest from retail investors also steadily picked up on the final day. These investors bid for 9.83 Cr shares against the 5.74 Cr shares reserved for them, translating to a 171% oversubscription of their quota. 

Employees continued to oversubscribe their quota, placing bids for 9.09 Lakh shares against 82,781 shares earmarked for them. The quota saw oversubscribed 10.99X.

Original | August 11, 13:43 IST

Logistics tech company LEAP India’s IPO got completely subscribed in the early hours of trade on the final day of bidding. As of 13:27 IST, investors have placed bids for 19.64 Cr shares against 11.50 Cr shares on offer, translating to an oversubscription of 1.71X.

Interest from non institutional investors (NIIs) picked up significantly on the final day of bidding, with these investors oversubscribing their quota by 3.33X. These investors have placed bids for 8.20 Cr shares against 2.46 Cr shares allocated for them.

Qualified institutional buyers (QIBs) continued to remain bullish on the public float on the final day. As of now, QIBs have oversubscribed their quota by 1.90X, placing bids for 6.25 Cr shares against the 3.28 Cr shares earmarked for them. In this category, foreign investors led the charge with foreign institutional investors placing bids for 4.47 Cr shares. 

Retail investors are yet to subscribe their quota completely, placing bids for 5.14 Cr shares against the 5.75 Cr reserved for them. This translates to a 90% subscription of their quota. 

Meanwhile, there has been a heightened interest from the company’s employees, who have already placed bids for 4.99 Lakh shares against 82,781 reserved for them. This category has seen an oversubscription of 6.03X.

With this, LEAP India will tentatively make its public markets debut on NSE and BSE on August 14 (Friday).

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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