LEAP India has filed its RHP with SEBI for a ₹2,480 Cr IPO, setting a price band of ₹151-159 per share.
LEAP India's listing adds another new-age tech logistics player to India's IPO pipeline, highlighting continued public market interest in supply chain enablers.
The public issue will comprise a ₹480 Cr fresh issue and a ₹2,000 Cr OFS, with anchor bidding on August 6 and the public issue open from August 7-11
Logistics tech provider Leap India
has filed its RHP for up to ₹2,480 Cr IPO and set a price band of ₹151 to ₹159.
The public issue will comprise a fresh issue of shares worth up to ₹480 Cr and an offer for sale of up to ₹2,000 Cr. Selling shareholders include promoter entities Vertical Holdings II Pte. Lt and KIA EBT Scheme 3. While Vertical Holdings will offload shares worth up to ₹1,998.6 Cr, KIA EBT will sell shares worth up to ₹1.4 Cr. Both selling shareholders are related to global investment firm KKR.
LEAP’s anchor investment round will take place on August 6, while bidding will commence on August 7 and close on till August 11.
At the upper end of the price band, the IPO values the company at ₹7,004.5 Cr (about $735 Mn).
According to the RHP, KKR-managed Vertical Holdings owns a 73.78% stake in LEAP India, while founder Sunu Mathew holds a 21.07% stake. Sixth Sense India Opportunities and First Bridge India Growth Fund are the other investors in the company.
LEAP India had filed its DRHP in September last year to raise ₹400 Cr through a fresh issue of shares and ₹2,000 Cr through an OFS. The listing was subsequently cleared by the markets regulator in December.
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 56.4% to ₹729.5 Cr from ₹466.5 Cr in FY25. Including other income of ₹17.8 Cr, total income during the period under review stood at ₹747.3 Cr.
Founded in 2013 by Mathew, LEAP India offers supply chain solutions spanning equipment pooling, returnable packaging, inventory management and movement, transportation, and repair and maintenance. It serves customers across sectors such as FMCG, beverages, ecommerce, automotive and retail.
The company said it served more than 1,000 customers as of the end of FY26, including Coca-Cola, Marico, Panasonic, Haier and Daikin. During the fiscal, the food and beverages segment accounted for more than a quarter of its business, followed by automotive and ecommerce.
LEAP India’s core business revolves around leasing supply chain assets and equipment to enterprises. As of the end of FY26, it had 14.7 Mn assets, comprising 8.98 Mn pallets and 5.71 Mn containers. The company supports its operations through a network of more than 29 warehouses and service centres, along with over 10,100 customer touchpoints.
Source: Inc42 - Startups
