Summary of this article
LEAP India IPO opens on August 7 with a price band of Rs 151-159
GMP jumps to Rs 19.5 and signals a 12.26 per cent listing premium
LEAP India's FY26 income rose 54 per cent while PAT increased 66 per cent
LEAP India IPO GMP: The initial public offering (IPO) of supply chain solutions provider LEAP India opened for subscription on August 7, 2026 and will remain open till August 11. The company has fixed the price band at Rs 151-159 per share.
The IPO is a combination of a fresh issue worth Rs 480 crore and an offer for sale (OFS) of Rs 2,000 crore by existing shareholders.
Retail investors can bid for a minimum of one lot comprising 94 shares, requiring an investment of Rs 14,946 at the upper end of the price band.
The basis of allotment is expected to be finalised on August 12. Refunds and credit of shares are likely on August 13, while the stock is scheduled to list on the BSE and NSE on August 14.
JM Financial, Avendus Capital, IIFL Capital Services and UBS Securities are the book-running lead managers to the issue, while MUFG Intime India is the registrar.
LEAP India IPO GMP Today
The latest grey market premium (GMP) for the LEAP India IPO stood at Rs 19.5 as of 8:34 AM on August 7. The GMP has strengthened in the run-up to the IPO. It was quoted at Rs 4 on August 3 and Rs 3 over the next two sessions before jumping to Rs 19.5 on August 6. It continued to trade at the same level on the issue's opening day.
Based on the upper end of the price band of Rs 159, the shares are estimated to list around Rs 178.5, implying a potential listing gain of about 12.26 per cent. However, GMP is based on unofficial market activity and should not be considered a reliable indicator of actual listing performance.
LEAP India IPO Selling Shareholders
Vertical Holdings II Pte. Ltd., a promoter entity, is selling 125.7 million shares worth around Rs 1,998.62 crore, while KIA EBT Scheme 3 is offering 86,603 shares worth Rs 1.38 crore.
LEAP India IPO Reservation
Qualified Institutional Buyers (QIBs) can receive up to 50 per cent of the net offer. At least 35 per cent of the issue has been reserved for retail investors, while not less than 15 per cent has been set aside for non-institutional investors (NIIs).
LEAP India IPO Objectives
The company plans to use Rs 360 crore from the fresh issue proceeds to repay or prepay certain borrowings. The remaining funds will be used for general corporate purposes.
About LEAP India
Founded in 2013 and backed by global investment firm KKR, LEAP India provides sustainable supply chain and asset-pooling solutions. Its services include equipment pooling, returnable packaging, inventory management, transportation, and repair and maintenance.
The company offers products such as pallets, reusable containers, material handling equipment, articulated forklifts and very narrow aisle (VNA) forklifts. It serves customers across FMCG, food and beverage, third-party logistics, e-commerce, quick commerce, automotive and industrial sectors.
In 2023, global investment firm KKR acquired a majority stake in LEAP India as part of its Asia infrastructure strategy.
As of March 31, 2026, the company had partnerships with more than 1,000 customers, including Hindustan Coca-Cola Beverages, Marico, Toll (India) Logistics, Daikin Airconditioning India and Panasonic Life Solutions India. It had 419 permanent employees and 2,062 material handling equipment operators.
LEAP India Financial Performance
LEAP India's total income rose 54 per cent to Rs 747.36 crore in FY26 from Rs 485.03 crore a year earlier. Its profit after tax (PAT) increased 66 per cent to Rs 62.34 crore from Rs 37.56 crore.
The company's earnings before interests, taxes, depreciation, and amortisation (Ebitda) rose to Rs 378.83 crore from Rs 273.80 crore, while its net worth increased to Rs 1,006.33 crore from Rs 917.35 crore. However, its total debt also increased to Rs 1,017.73 crore from Rs 801.66 crore over the same period.
LEAP India IPO Valuation
At the upper end of the price band, LEAP India is valued at a post-issue market capitalisation of about Rs 7,004.53 crore.
The post-issue earnings per share (EPS) stands at Rs 1.42, translating into a price-to-earnings (P-E) ratio of nearly 112 times. The price-to-book value stands at 6.48.
The company reported a return on equity (ROE) of 6.48 per cent, return on capital employed (ROCE) of 19.06 per cent, debt-to-equity ratio of 1.01, PAT margin of 8.34 per cent and Ebitda margin of 50.69 per cent as of March 31, 2026.
