LEAP India IPO opens on August 7; check price band, issue size, GMP & other key details

KKR-backed supply chain management and asset pooling company LEAP India has announced a price band of Rs 151-159 per equity share for its initial public offering, which will open for subscription on August 7. The anchor investor portion will open for one day on August 6, while the public issue will close on August 11. Investors will have to bid for a minimum of 94 shares and in multiples thereafter.

At the upper end of the price band, the IPO is expected to raise Rs 2,480 crore. The issue comprises a fresh issue of Rs 480 crore and an offer for sale of Rs 2,000 crore. The fresh issue has been increased from the proposed Rs 400 crore mentioned in the draft papers, while the offer-for-sale component remains unchanged.

Under the offer for sale, promoter entities Vertical Holdings II and KIA EBT Scheme 3 will offload shares worth Rs 1,998.62 crore and Rs 1.37 crore, respectively. LEAP India had filed its draft red herring prospectus with SEBI in August 2025 for a Rs 2,400 crore IPO and received the regulator's approval in December 2025. The company has also reserved shares worth up to Rs 1.25 crore for eligible employees.

Global investment firm KKR, through Vertical Holdings II, and Sunu Mathew are the company's promoters, holding 73.78 per cent and 21.07 per cent stakes, respectively. Half of the issue has been reserved for qualified institutional buyers, while 15 per cent has been allocated to non-institutional investors and the remaining 35 per cent to retail investors.

Based in Mumbai, LEAP India operates an asset pooling platform with 1.47 crore assets and a network of more than 10,100 customer touchpoints across India. It serves sectors including FMCG, food and beverages, third-party logistics, e-commerce, quick commerce, automotive and industrials.

The company plans to use Rs 360 crore from the fresh issue proceeds to repay debt, while the remaining amount will be used for general corporate purposes. As of June 2026, its outstanding consolidated borrowings stood at Rs 1,023.2 crore. Last heard, it was commanding a grey market premium (GMP) of Rs 8 apiece, suggesting a 5 per cent listing pop.

For FY26, LEAP India reported a 66 per cent rise in net profit to Rs 62.3 crore from Rs 37.6 crore a year earlier, while revenue increased 56.4 per cent to Rs 729.5 crore from Rs 466.5 crore in FY25. The IPO is being managed by JM Financial, Avendus Capital, IIFL Capital Services and UBS Securities India. The company is likely to debut on the stock market on August 14.