LEAP India IPO Listing: KKR-Backed Stock Debuts 4% Above Issue Price At Rs 166 On BSE

Global investment firm KKR-backed LEAP India’s shares made a positive debut on the stock exchanges on August 14, listing at Rs 165.90 apiece on the NSE, a premium of Rs 6.90 or 4.34 per cent over the issue price of Rs 159. The listing was below grey market expectations. On the BSE, the stock debuted at Rs 166, up Rs 7 or 4.40 per cent from the issue price.

Ahead of listing, the sustainable supply chain and asset-pooling solutions firm’s latest GMP stood at Rs 13 indicating an estimated listing price of Rs 172.

The Rs 2,480 crore LEAP India IPO was available for subscription from August 7 till August 11. The issue comprised a fresh issue of shares worth Rs 480 crore and an offer for sale worth Rs 2,000 crore.

The company had fixed the IPO price band at Rs 151-159 per share, with a lot size of 94 shares. At the upper end of the price band, retail investors were required to invest a minimum of Rs 14,946.

JM Financial acted as the book running lead manager for the issue, while MUFG Intime India was the registrar.

LEAP India IPO Subscription Details

The public issue was subscribed 8.82 times by the end of bidding on August 11, with investors placing bids for 963.43 million shares against 109.21 million shares on offer.

Qualified institutional buyers (QIBs) subscribed 17.73 times, while the non-institutional investor (NII) portion was subscribed 13.31 times. Within the NII category, bids from investors applying for more than Rs 10 lakh were 14.49 times the shares reserved for them, while the small NII portion was subscribed 10.93 times.

The retail investor portion was subscribed 1.81 times. The employee portion received 11.57 times subscription. The IPO received a total of 9,87,534 applications.

What LEAP India Does

LEAP India, incorporated in 2013, provides supply chain and asset-pooling solutions to businesses across sectors such as FMCG, food and beverage, e-commerce, quick commerce, automotive and logistics.

Its services include equipment pooling, returnable packaging, inventory management, transportation, and repair and maintenance. The company had partnerships with more than 1,000 customers as of March 31, 2026.

LEAP India IPO Objectives

The company plans to use Rs 360 crore from the net IPO proceeds towards repayment or prepayment of certain borrowings, with the remaining amount earmarked for general corporate purposes.

Global investment firm KKR acquired a majority stake in LEAP India in 2023.