LEAP India IPO is all set to make its stock market debut today, 14 August, following successful allotment. The shares of LEAP India will be listed on both exchanges – BSE and NSE.
According to details available on the BSE website, LEAP India shares are set to list in a special pre-open session on both the BSE and NSE on Friday. Trading in LEAP India shares is expected to commence at 10:00 IST.
The LEAP India IPO witnessed a strong response on the final day of bidding on Tuesday, with the issue getting subscribed 8.38 times. A total of 11.49 crore shares were available in the offering. The retail investor portion was subscribed 1.71 times, against 5.74 crore shares earmarked for the category.
LEAP India IPO GMP today
According to Investorgain, LEAP India shares are commanding a grey market premium (GMP) of ₹12.5 today. This indicates that the LEAP India IPO GMP stands at ₹12.5, representing an approximately 8% premium over the upper end of the issue’s price band.
Based on grey market activity over the last 12 sessions, the IPO’s GMP is witnessing an upward trend today, indicating positive market expectations for a strong listing. During this period, the GMP ranged between ₹3 and ₹19.5.
LEAP India IPO listing price prediction
According to Mahesh M. Ojha, VP Research & Business Development, Kantilal Chhaganlal Securities Pvt. Ltd, an investor seeking short-term listing gains may consider profit booking with an expected listing gain of 8-10%. Investors with a medium- to long-term horizon may consider holding the stock given its strong structural growth prospects.
“Leap India Limited is the clear market leader in India’s asset pooling industry, commanding an estimated 90% share of the pallet pooling market, supported by its extensive pooled asset base, Pan-India network, technology-enabled platform and strong customer relationships. Revenue/EBITDA/PAT registering CAGRs of 41.4%/33.3%/29.5% during FY24–FY26, highlighting strong business momentum,
At the upper price band of ₹159, the issue is valued at an EV/EBITDA multiple of 22.2x FY 26 Earning 113.6x Pe while remain high leverage reduction post issue should improve balance sheet and potentially bring down the valuation over a time Given the Large addressable Opportunity, recurring revenue model, high entry barriers and strong market leadership, we believe long term growth opportunity remain attractive,” Ojha said.
Meanwhile, Tushar Badjate, Director of Badjate Stocks and Shares, believes that LEAP India has a strong business model around asset pooling of pallets, containers and material handling equipment. It is a market leader in a segment which is still underpenetrated in India, so the long-term opportunity is definitely interesting.
“FY26 revenue was around ₹730–750 crore and PAT around ₹62–63 crore, with good growth. The main concern is valuation — at the IPO price of ₹159, the company was valued at roughly 110x FY26 earnings. Also, around ₹2,000 crore of the ₹2,480 crore issue was OFS, so a large part of the issue proceeds was going to existing shareholders,” said Badjate.
LEAP India IPO details
The LEAP India IPO consists of a fresh issue of 3.02 crore equity shares aggregating ₹480 crore, along with an offer for sale (OFS) of 12.58 crore shares worth approximately ₹2,000 crore.
Under the OFS, KKR-backed Vertical Holdings II will offload shares worth around ₹1,998.6 crore, while the remaining shares will be sold by promoter group entity KIA EBT Scheme 3.
The company intends to use the IPO proceeds mainly to strengthen its balance sheet and fund future growth. Approximately ₹360 crore of the net proceeds will be utilised for the repayment or prepayment of certain outstanding borrowings. The balance will be deployed for general corporate purposes, supporting LEAP India’s operational capabilities and strategic expansion plans.
JM Financial Ltd. is acting as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. is the registrar.
Established in 2013, LEAP India Ltd. operates in the sustainable supply chain and logistics infrastructure sector. The company provides asset-pooling and reusable packaging solutions to businesses across various industries.
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