LEAP India IPO
IPO Details
Bidding Dates
07 Aug '26 - 11 Aug '26
Minimum Investment
₹14,946 / 1 Lot
Price Range
₹151 – ₹159
Maximum Investment
₹1,94,298 / 13 Lots
Retail Discount
N.A.
Issue Size
₹2,480.00 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB)LEAP India IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Aug 7, 26
IPO Closing Date
Aug 11, 26
Basis of Allotment
Aug 12, 26
Initiation of Refunds
Aug 13, 26
IPO Listing Date
Aug 14, 26
LEAP India IPO Subscription Details
| Date | QIB | EMP | NII | Retail | Total |
|---|---|---|---|---|---|
Day 1Aug 7 2026 | 0.64 | 1.13 | 0.12 | 0.14 | 0.28 |
Day 2Aug 10 2026 | 0.64 | 2.26 | 0.42 | 0.40 | 0.47 |
Day 3Aug 11 2026 | 17.73 | 11.35 | 13.25 | 1.69 | 8.75 |
About LEAP India IPO
LEAP India IPO is a book-built issue worth ₹2,480.00 crore. The IPO comprises a fresh issue of 3.02 crore equity shares aggregating to ₹480.00 crore and an offer for sale of 12.58 crore equity shares aggregating to ₹2,000.00 crore.
JM Financial Limited is the book-running lead manager to the issue, while MUFG Intime India Private Limited is the registrar. For detailed information on the company's financials, business operations and associated risks, investors are advised to refer to the LEAP India IPO RHP.
About LEAP India Limited
LEAP India Limited was originally incorporated as LEAP India Private Limited on July 3, 2013, under the Companies Act, 1956. Subsequently, the company was converted into a public limited company and renamed LEAP India Limited, with a fresh certificate of incorporation issued on July 31, 2025.
LEAP India operates in the asset pooling and supply chain solutions industry, providing pallets, containers and material handling equipment to customers across a wide range of sectors. The company enables businesses to access supply chain assets on a rental and pooling basis, reducing the need for customers to own and maintain these assets.
The company derives a significant portion of its revenue from its pallet pooling business, which forms the core of its operations. Through its extensive asset network, LEAP India helps customers improve logistics efficiency, asset utilisation and supply chain flexibility while reducing capital expenditure requirements.
LEAP India has established a nationwide network supported by technology-enabled asset tracking, asset management and operational monitoring systems. Its business model benefits from network effects, as an expanding asset base and customer network help improve utilisation rates, operational efficiencies and service reliability.
The company’s growth strategy focuses on strengthening its leadership position in the asset pooling market, expanding its asset fleet, enhancing technology capabilities and improving operational efficiency. It also aims to leverage industry growth, deepen customer relationships and create long-term value through scale, sustainability and supply chain optimisation.
Industry Outlook
- India’s supply chain and logistics sector is witnessing strong growth, driven by expanding manufacturing activity, organised retail, e-commerce growth and increasing infrastructure investments.
- Asset pooling solutions are gaining wider acceptance as businesses seek to reduce capital expenditure and improve operational efficiency across supply chains.
- Pallet pooling continues to emerge as a preferred logistics solution due to its ability to optimise asset utilisation and lower overall logistics costs.
- Increasing focus on supply chain standardisation, product safety and operational efficiency is supporting demand for quality pallets, containers and material handling assets.
- Large-scale logistics networks and asset availability remain key competitive advantages in the asset pooling industry.
- Customers are increasingly adopting outsourced and shared asset models to improve flexibility and scalability of supply chain operations.
LEAP India IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
- Repayment and/or prepayment, in full or in part, of certain borrowings availed by the company.
- Strengthening the company’s balance sheet through debt reduction and lowering finance costs.
- Improving financial flexibility to support future business growth initiatives.
- Enhancing capital efficiency and maintaining a healthier debt profile.
- Supporting long-term operational and strategic business requirements.
- Meeting general corporate purposes in accordance with applicable regulations.
Financial Performance of LEAP India Limited
| Particulars | FY26 | FY25 | FY24 |
| Total Assets (million) | 14.70 | 13.30 | 7.92 |
| Utilization Rate: Pallets (%) | 89.34 | 87.46 | 87.75 |
| Utilization Rate: Containers (%) | 71.68 | 76.03 | 66.17 |
| Utilization Rate: Material Handling Equipment (MHEs) (%) | 79.79 | 81.54 | 82.50 |
| Total Income (₹ million) | 7,473.55 | 4,850.31 | 3,719.44 |
| Net Profit for the Year (PAT) (₹ million) | 623.41 | 375.58 | 371.74 |
| Total Income Split: Asset Pooling (excluding MHE) (₹ million) | 6,168.81 | 3,842.20 | 2,992.79 |
| Total Income Split: Material Handling Equipment (MHE) Pooling (₹ million) | 1,151.80 | 886.74 | 675.83 |
| Total Income Split: Others (₹ million) | 152.94 | 121.37 | 50.82 |
| EBITDA (₹ million) | 3,788.29 | 2,737.97 | 2,099.18 |
| EBITDA Margin (%) | 50.69 | 56.45 | 56.44 |
| PAT Margin (%) | 8.34 | 7.74 | 9.99 |
| Cash PAT (₹ million) | 2,666.71 | 1,912.87 | 1,497.83 |
| Cash PAT Margin (%) | 35.68 | 39.44 | 40.27 |
| Debt to Equity (times) | 1.01 | 0.87 | 0.72 |
| Return on Equity (%) | 6.48 | 4.60 | 5.79 |
| Cash Return on Equity (%) | 27.73 | 23.45 | 23.34 |
| Return on Capital Employed (by EBITDA) (%) | 19.06 | 18.01 | 20.33 |
Strengths and Opportunities of LEAP India IPO
- Market leader in India's pallet pooling industry.
- Extensive nationwide asset network.
- Large pallet fleet and operational scale.
- Strong network-effect driven business model.
- Long-standing customer relationships.
- Technology-enabled asset tracking capabilities.
- Growing demand for pooled logistics assets.
- Focus on quality and sustainability.
- Debt reduction through IPO proceeds may strengthen financials.
Risks and Threats of LEAP India IPO
- High dependence on pallet pooling revenue.
- Competition from existing and new asset pooling players.
- Changes in customer preferences for alternative asset solutions.
- Asset damage, loss or lower utilisation risks.
- Dependence on suppliers for pallets and containers.
- Increasing maintenance and repair costs.
- Slowdown in logistics, manufacturing or consumption sectors.
- Customer concentration and contract renewal risks.
- Operational disruptions across its large asset network.
LEAP India IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | 7,79,48,113 (50.00%) |
| − Anchor Investor Shares Offered | 4,67,68,854 (29.98%) |
| − QIB (Ex. Anchor) Shares Offered | 3,11,79,259 (19.99%) |
| NII (HNI) Shares Offered | 2,33,84,434 (15.00%) |
| Retail Shares Offered | 5,45,63,679 (35.00%) |
| Employee Shares Offered | 78,616 (0.05%) |
| Total Shares Offered | 15,59,74,842 (100.00%) |
LEAP India IPO Promoter Holding
The promoters of the company are Sunu Mathew and Vertical Holdings II Pte. Ltd.
| Share Holding Pre-Issue | 90.04% |
| Share Holding Post Issue | 55.43% |
LEAP India IPO Prospectus
LEAP India IPO Registrar and Lead Managers
LEAP India IPO Lead Managers
- JM Financial Limited
- Avendus Capital Private Limited
- IIFL Capital Services Limited
- UBS Securities India Private Limited
Registrar for LEAP India IPO
MUFG Intime India Private Limited
- Contact Number: 022-49186000
- Email Address:ipo@in.mpms.mufg.com
LEAP India IPO Registrar
How To Apply for LEAP India IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the LEAP India IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of the LEAP India IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Don't miss the next investment opportunity - browse the Upcoming IPO on Angel One.
Contact Details of LEAP India IPO
Registered Office: 14th Floor, Commerz, International Business Park Oberoi Garden, Off Western Express Highway, Goregaon, Maharashtra, 400063.
Phone: +91 22 6958 8700
E-mail: compliance@leapindia.net
- How to Apply in IPO
- How to Check IPO Allotment Status
Login to Angel One App / Website & click on IPO
Select desired IPO & tap on "Apply"
Enter UPI ID, set quantity/price & submit
Accept mandate on the UPI app to complete the process
LEAP India IPO FAQs
What minimum lot size can retail investors subscribe to?
Retail investors can apply for a minimum of 1 lot, comprising 94 shares. At the upper price band of ₹159 per share, the minimum investment amount is ₹14,946.
When will the LEAP India IPO be allotted?
The basis of allotment for the LEAP India IPO is expected to be finalised on August 12, 2026, subject to the IPO schedule. Investors can check their allotment status after it is finalised through the registrar or stock exchange websites.
How to increase your chances of getting a LEAP India IPO allotment?
Multiple Submissions: Use different Demat accounts belonging to different eligible applicants to make separate applications.
Price Bidding: Opt for bidding at the cut-off price or the upper price band to avoid the application being rejected due to a lower bid.
Timely Subscription: Ensure you submit your IPO application within the specified subscription period and approve the UPI mandate before the deadline.
Application Details: Check your PAN, Demat account, bank account and UPI details carefully before submitting the application to avoid rejection due to errors.
How do I approve the UPI mandate request for the LEAP India IPO?
After submitting your IPO application, you will receive a UPI mandate request in your chosen UPI app. Review the details and approve the mandate before the specified deadline to complete your application.
Can I submit more than one application for the public issue of LEAP India Limited using one PAN?
No, you should not submit multiple IPO applications using the same PAN under the same investor category. Multiple applications with the same PAN may be rejected as invalid during the allotment process.
What is 'pre-apply' for LEAP India Limited IPO?
Pre-apply allows investors to submit their IPO application before the public issue officially opens for subscription. The application is saved in advance and is processed when the IPO opens.
If I pre-apply for the LEAP India Limited IPO, when will my order get placed?
If you pre-apply, your order will be placed once the IPO opens for subscription on August 7, 2026. You must also approve the UPI mandate within the prescribed timeline for the application to remain valid.
When will I know if my LEAP India Limited IPO order is placed?
You will receive a confirmation once your IPO order has been successfully placed on the exchange. You will also receive notifications through your email and SMS.
Where is the LEAP India Limited IPO getting listed?
The LEAP India Limited IPO is proposed to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The tentative listing date is August 14, 2026.
