LEAP India ₹2,480 crore mainboard IPO listed on NSE and BSE with 8.38x overall subscription

IPO / ECM 14 Aug 2026· ₹2,480 cr · Completed· ✓ Verified

LEAP India, incorporated 2013, operates a share-and-reuse model for pallets, containers and material-handling equipment across 29 fulfilment centres and 10,100+ customer touchpoints serving 1,000+ customers. FY26 net profit grew 66% to ₹62.3 cr on 57% revenue growth to ₹730 cr. The fresh issue proceeds (net ~₹360 cr) are earmarked for debt repayment (~₹360 cr) and general corporate purposes. IPO price band ₹151–₹159 per share (final ₹159); anchor allocation raised ₹743.62 cr from 32 institutions on 6 August.

Why it mattersLarge OFS component (81% of issue) by PE-backed promoter in a capital-intensive, scale-dependent asset pooling business; valuation (~110x FY26 earnings) and restricted covenants on ₹1,018 cr borrowings require careful post-listing debt management and covenant monitoring by counsel.
CounselCyril Amarchand Mangaldas, Shardul Amarchand Mangaldas & Co
SectorInfrastructure
Value₹2,480 cr
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