KKR-Backed LEAP India Fixes Price Band At Rs 151-159, IPO To Open On August 7

LEAP India IPO: LEAP India, backed by the leading global investment firm KKR, has announced a price band of Rs 151-159 per equity share for its Rs 2,480 crore initial public offering (IPO), which will open for public subscription on August 7 and close on August 11, 2026.

The book-built issue includes a fresh issue of 30.19 million equity shares worth Rs 480 crore and an offer for sale (OFS) of 125.79 million equity shares worth Rs 2,000 crore. At the upper end of the price band, the company is expected to command a post-listing market capitalisation of Rs 7,004.53 crore.

LEAP India IPO Timeline

The anchor investor portion will open on August 6, a day ahead of the public issue. The basis of allotment is expected to be finalised on August 12, while refunds to unsuccessful bidders and credit of equity shares to successful bidders’ demat accounts are scheduled for August 13. The shares are scheduled to list on both the BSE and the NSE on August 14.

The lot size has been fixed at 94 shares, requiring a minimum investment of Rs 14,946 for retail investors at the upper end of the price band.

MUFG Intime India is the registrar to the issue, while JM Financial, Avendus Capital, IIFL Capital Services and UBS Securities India are the book-running lead managers.

LEAP India IPO Selling Shareholders

Under the OFS, promoter entity Vertical Holdings II will sell shares worth Rs 1,998.62 crore, while KIA EBT Scheme 3 will offload shares worth Rs 1.37 crore. Following the fresh issue, the company’s outstanding equity share capital will increase to 440.54 million shares from 410.35 million shares at present.

LEAP India IPO Objectives

LEAP India plans to use Rs 360 crore from the net proceeds of the fresh issue majorly for repaying its debt. The company plans to use the remaining amount for general corporate purposes. Its total outstanding consolidated debt stood at Rs 1,023.2 crore as of June 2026.

LEAP India Valuation

Based on the upper end of the LEAP India IPO price band, the company is valued at a post-issue price-to-earnings (P-E) multiple of 111.97 times. According to the offer documents, the post-issue price-to-book value (P-BV) stands at 6.48 times.

About LEAP India

Incorporated in 2013, LEAP India provides asset pooling and supply chain solutions through reusable pallets, containers, and material handling equipment. It serves more than 1,000 customers across sectors, such as FMCG, food and beverages, third-party logistics, e-commerce, quick commerce and automotive. As on March 31, 2026, the company operated a network of 14.70 million assets and over 10,100 customer touchpoints across India.

KKR acquired a majority stake in LEAP India in 2023 through Vertical Holdings II as part of its Asia infrastructure strategy. Vertical Holdings II and Sunu Mathew are the company’s promoters, holding 73.78 per cent and 21.07 per cent stakes, respectively.

LEAP India Financial Performance

For the financial year ended March 31, 2026, LEAP India reported a total income of Rs 747.36 crore, as against Rs 485.03 crore in the previous financial year. Its profit after tax (PAT) rose to Rs 62.34 crore from Rs 37.56 crore, while earnings before interest, tax, depreciation and amortisation (Ebitda) increased to Rs 378.83 crore from Rs 273.80 crore. The company’s total assets stood at Rs 2,401.05 crore, while net worth was Rs 1,006.33 crore as on March 31, 2026.