LEAP India, backed by KKR, launched its initial public offering on August 7 and closed the book on August 11. The company aimed to raise Rs 2,480 crore through a fresh issue and an offer‑for‑sale (OFS). Investors were allowed to bid within a price band of Rs 151 to Rs 159 per share.
During the three‑day bidding period, the IPO attracted a total subscription of 8.38 times the issue size. Applicants bought 96,32,58,796 equity shares while the company offered 11,49,91,735 shares.
Qualified institutional buyers (QIBs) and non‑institutional investors (NIIs) were the main contributors to the demand. Retail investors subscribed at 1.71 times the share count.
The final issue price was set at the upper end of the band, Rs 159 per share. This decision was based on the strong demand from both institutional and retail participants.
Allotment status can be checked through the BSE website, the NSE IPO verification portal, or the registrar MUFG Intime India. Investors need to enter their PAN or application number to view the results.
The grey market premium for LEAP India was about Rs 13 per share on August 12, suggesting a potential listing price of Rs 172. This represents an 8.18% premium over the issue price, though it is not guaranteed.
From the fresh issue, Rs 360 crore will be used to repay debt, while the remaining proceeds are earmarked for general corporate purposes. The OFS money goes to the selling shareholders.
Before the public issue, 32 anchor investors raised Rs 743.62 crore by buying 4.67 crore shares at Rs 159 each. The anchor book included global names such as the Monetary Authority of Singapore, Morgan Stanley, Norway's Government Pension Fund Global, Amundi, Citigroup, Societe Generale and Goldman Sachs.
The IPO was managed by JM Financial, Avendus Capital, IIFL Capital Services and UBS Securities India. Shares will be listed on both the BSE and NSE.
LEAP India offers technology‑enabled supply chain and asset‑pooling solutions. It pools pallets, containers and material‑handling equipment for sectors like FMCG, food & beverages, logistics, e‑commerce, quick commerce, automotive and industrials. The company was incorporated in 2013 and has KKR as its majority investor.
With the allotment to be announced on August 12, investors can expect their shares to be credited to their demat accounts soon after. Unsuccessful applicants will see their blocked amounts returned as per the IPO timetable.