The initial public offering of LEAP India was subscribed 24% on the first day of bidding on Friday, with investors placing bids for nearly one-fourth of the shares on offer, according to stock exchange data. The ₹2,480 crore public issue will remain open for subscription until August 11.
The offering is among the larger mainboard IPOs this year and is being closely watched as a gauge of investor appetite for logistics and supply chain businesses. LEAP India has set the price band at ₹151-159 per equity share and plans to list on the BSE and NSE on August 14, subject to the completion of the allotment process.
Ahead of the public issue, the KKR-backed company raised ₹743.6 crore from 32 anchor investors by allotting 4.68 crore equity shares at ₹159 apiece. The anchor book included domestic and foreign institutional investors, providing an early indication of institutional interest in the offering, the company said.
The IPO comprises a fresh issue of equity shares worth ₹480 crore and an offer for sale of ₹2,000 crore by existing shareholders, taking the total issue size to ₹2,480 crore. Reuters reported that KKR-associated Vertical Holdings II is the principal selling shareholder in the offer for sale.
According to the company's offer documents, proceeds from the fresh issue will be used primarily for repayment or prepayment of borrowings, funding working capital requirements and general corporate purposes.
LEAP India provides pallet pooling, returnable packaging and supply chain asset pooling services. Reuters reported that the company operates 30 warehouses, seven outsourced pallet manufacturing units and serves more than 900 customers across India.
For the financial year ended March 2026, the company reported revenue growth of 56.4% to ₹730 crore and a 66% increase in net profit to ₹62.34 crore, according to Reuters.
Bidding for the IPO will close on August 11, while the basis of allotment is expected to be finalised before the shares are scheduled to debut on the stock exchanges on August 14.
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