[Update] LEAP India IPO: Issue Subscribed 49% On Day 2

Update | August 10, 20:40 IST

Logistics tech company LEAP India’s IPO was subscribed 49% at the end of second day of bidding. As per BSE data, the IPO received bids for 5.62 Cr shares against the 11.50 Cr shares on offer.

Qualified institutional buyers (QIBs) showed the highest interest in the IPO, with the portion reserved for them ending the day with a 61% subscription. These investors placed bids for 2.01 Cr shares against the 3.28 Cr shares reserved for them. 

Interest from non institutional investors (NIIs) picked up pace during the day, with these investors subscribing their quota by half at the end of day two of bidding. NIIs have placed bids for 1.24 Cr shares against 2.46 Cr shares reserved for them. 

Meanwhile, retail investors have now subscribed their quota by 41%. These investors have placed bids for 2.35 Cr shares against the 5.75 Cr shares reserved for them. 

Employees oversubscribed their quota, placing bids for 2.43 Lakh shares against 82,781 shares earmarked for them. The quota saw oversubscribed 295%.

Original | August 10, 15:09 IST

Logistics tech company LEAP India’s IPO picked up pace on the second day of bidding. Investors placed bids for 4.77 Cr shares against a total offer size of 11.49 Cr shares on offer, translating to a 42% subscription, as of 14:30 IST.

Qualified institutional buyers (QIBs) continued to lead bidding on day two, placing bids for 2 Cr shares against the 3.28 Cr shares earmarked for them. This translates to a 61% subscription of their quota. 

As of now, both non institutional investors (NII) and retail investors have subscribed their quota by 34%. While  NIIs placed bids for 82.96 Lakh shares against 2.46 Cr shares allocated for them, retail investors have bid for 1.93 Cr shares compared to 5.75 shares earmarked for them.

The quota reserved for employees was oversubscribed by 2.32X until now. Employees placed bids for 1.92 Lakh shares while 82,781 shares were set aside from them. 

The logistics tech company’s public issue was subscribed 26% at the end of day one. As per BSE data, the IPO received bids for 3.02 Cr shares against the 11.50 Cr shares on offer.

The 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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