LEAP India IPO opened for subscription on Friday, August 7, 2026, aiming to raise ₹2,480 crore through a combination of a fresh issue and an Offer for Sale (OFS). The public issue will remain open until Tuesday, August 11, 2026, while the company’s shares are expected to list on the BSE and NSE on August 14, 2026.
The IPO has been priced in the range of ₹151 to ₹159 per share, with a lot size of 94 shares. Retail investors need a minimum investment of ₹14,946 at the upper price band.
LEAP India IPO at a Glance
| Particulars | Details |
|---|---|
| IPO Type | Book Building Issue |
| Issue Size | ₹2,480 Crore |
| Fresh Issue | ₹480 Crore |
| Offer for Sale | ₹2,000 Crore |
| Price Band | ₹151 – ₹159 per share |
| Face Value | ₹1 per share |
| Lot Size | 94 Shares |
| Minimum Investment | ₹14,946 |
| IPO Opens | August 7, 2026 |
| IPO Closes | August 11, 2026 |
| Allotment | August 12, 2026 (Tentative) |
| Listing | August 14, 2026 (Tentative) |
| Exchange | BSE & NSE |
About LEAP India Ltd.
Founded in 2013, LEAP India Ltd. is India’s leading asset pooling and supply chain solutions company. The company provides reusable logistics equipment and end-to-end asset management services to businesses across multiple industries.
Its core offerings include:
- Reusable Pallets
- Foldable Containers
- Material Handling Equipment (MHE)
- Articulated Forklifts
- Very Narrow Aisle (VNA) Forklifts
- Transportation & Inventory Management
- Repair and Maintenance Services
LEAP India serves more than 1,000 customers, including leading names such as Marico, Hindustan Coca-Cola Beverages, Panasonic, Daikin, and Toll Logistics.
Backed by global investment firm KKR, the company operates in sectors including FMCG, e-commerce, quick commerce, automotive, food & beverages, industrials, and third-party logistics.
Financial Performance Of LEAP India
The company has reported strong financial growth over the last three financial years.
| Financial Year | FY26 | FY25 | FY24 |
|---|---|---|---|
| Revenue | ₹747.36 Cr | ₹485.03 Cr | ₹371.94 Cr |
| Profit After Tax | ₹62.34 Cr | ₹37.56 Cr | ₹37.17 Cr |
| EBITDA | ₹378.83 Cr | ₹273.80 Cr | ₹209.92 Cr |
| Total Assets | ₹2,401.05 Cr | ₹2,042.46 Cr | ₹1,400.28 Cr |
Between FY25 and FY26:
- Revenue increased by 54%
- Profit After Tax (PAT) jumped 66%
Objectives of the IPO
The company plans to utilise the fresh issue proceeds for:
- ₹360 crore towards repayment or prepayment of borrowings.
- General corporate purposes.
LEAP India IPO GMP Today
According to grey market sources, LEAP India IPO GMP is around ₹6.50 per share, indicating an estimated listing premium of nearly 4% over the upper price band of ₹159. Grey Market Premium (GMP) is unofficial and should not be considered a guarantee of listing gains.
Brokerage Review On LEAP India IPO
Brokerages have adopted a cautious stance on the IPO.
- SBI Securities: Neutral
- Swastika Investmart: Neutral
Analysts appreciate LEAP India’s market leadership, strong customer base, and leadership in India’s growing asset-pooling industry. However, concerns remain regarding:
- High working capital requirements
- Elevated receivable days
- Expensive valuation (Post-issue P/E around 112x)
- Moderate return ratios
Strengths
- India’s largest asset pooling company.
- Strong backing from global investor KKR.
- Blue-chip customer portfolio.
- High entry barriers in the industry.
- Sustainable and ESG-focused business model.
- Strong revenue and profit growth.
Risks
- Premium valuation compared to earnings.
- Working capital-intensive business.
- High debt levels.
- Dependence on customer contract renewals.
- Cash flow conversion remains a concern.
Should You Apply?
LEAP India operates in a niche business with significant long-term growth potential, supported by increasing demand for organised supply chain infrastructure and reusable logistics solutions. The company has demonstrated strong financial growth and enjoys a leadership position in the asset pooling market.
However, the IPO is priced at a rich valuation, and brokerages have largely maintained a Neutral view due to concerns around working capital intensity and cash flow generation. Long-term investors who believe in the sector’s growth story may consider tracking the company, while conservative investors may prefer to wait for post-listing performance before taking exposure.
Disclaimer: This article is for educational purposes only and should not be considered investment advice. Investors are advised to consult a financial advisor before investing in IPOs.
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