LEAP India IPO GMP, Date, Price Band & Review

LEAP India IPO Details

The LEAP India IPO is a 100% book-built issue worth up to ₹2,480 crore, comprising a fresh issue worth up to ₹480 crore and an offer for sale (OFS) worth up to ₹2,000 crore, with a face value of ₹1 per share. The company filed its DRHP with SEBI on September 29, 2025.

The price band of the issue is set between ₹151 to ₹159 per share and the lot size for an application is 94 shares. The minimum amount of investment required by an individual investor is ₹14,946 (94 shares). The IPO will be open for subscription from August 7 to 11, 2026, on the BSE and the NSE platforms. The book-running lead managers (BRLMs) for the issue are JM Financial, Avendus Capital, IIFL Capital and UBS Securities, with MUFG Intime India Private Limited as the registrar of the issue.

LEAP India IPO Date & Timeline

The LEAP India IPO is officially set to open for subscription on Aug 7, 2026 and will close on Aug 11, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on September 29, 2025 and has now finalized its schedule following SEBI approval. Once the subscription window closes, allotment is expected on Aug 12, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Aug 13, 2026. Finally, shares of LEAP India Ltd. are tentatively scheduled to list on the stock exchanges on Aug 14, 2026.

LEAP India IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The LEAP India IPO GMP is currently trading at ₹12.5, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹171.5, which is 7.86% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

LEAP India Ltd. was incorporated on July 3, 2013, as a private limited company, with a clear vision to optimise logistics and warehousing infrastructure across the country. Over the past decade, the business has systematically evolved into a cornerstone of India’s modern supply chain framework. Then, on July 31, 2025, the company was converted into a public limited company to proceed with its public listing procedures.

Currently, the core activities provide on-demand asset pooling services, fundamentally modernising the storage and transportation of commercial goods. Operating from its corporate headquarters in Goregaon (East), Mumbai, LEAP India has aggressively expanded its geographic footprint to establish a strong pan-India presence.

Operations & Product Range

LEAP India Ltd’s core operations model involves an efficient system referred to as “asset pooling.” Rather than compelling their clients to invest heavily in capital to buy logistics assets, they offer essential material handling equipment as and when required. The range of products offered includes the regular wooden pallets, the specialised composite pallets, transit containers and essential MHE, including forklifts. The company has specifically targeted its scalable products at clients operating within the FMCG, e-commerce, automotive and beverage industries.

Facilities & Capacity

LEAP India Ltd. has established itself forcefully in the market through the creation of a comprehensive operational structure. It maintains an enormous national stock of 135.7 lakh logistic resources, for which the operational structure depends upon 30 specialised fulfilment centres that are located in various regions throughout the nation. These centres perform important functions such as storage, regular maintenance, repairs and fast deployment. Besides this, LEAP India Ltd. maintains an elaborate system of 7,747 client contact points to provide fast access to its products.

Brands & Market Presence

LEAP India Ltd. has established itself as a remarkable player in the market through the creation of a comprehensive operational structure. It maintains an enormous national stock of 135.7 lakh logistical resources, for which the operational structure depends upon 30 specialised fulfilment centres that are located in various regions throughout the nation. These centres perform important functions such as storage, regular maintenance, repairs and fast deployment. Besides this, LEAP India Ltd. maintains an elaborate system of 7,747 client contact points to provide fast access to its products.

Revenue Streams & Business Model

LEAP India Ltd. operates a circular “share and reuse” business model, serving as an on-demand supply chain asset pooling provider across sectors like FMCG, e-commerce, and manufacturing. Rather than selling equipment outright, LEAP India monetises logistics by leasing reusable wooden pallets, foldable smart containers, and material handling gear. Revenue streams stem from recurring usage fees, equipment rentals, inventory management, returnable packaging, and repair services via long-term client contracts.

Financial Performance

LEAP India Ltd. shows strong top-line momentum, as the operational scale generated a total income of ₹747.36 crore in FY26, expanding from ₹485.03 crore in FY25. Net profit after tax reached ₹62.34 crore, maintaining steady profitability despite substantial finance costs and depreciation inherent to heavy equipment operations. EBITDA margins remained healthy above 50%, reflecting high asset utilisation, with a PAT margin of 8.34%.

Management & Shareholding

The promoters of LEAP India Ltd. are Sunu Mathew and Vertical Holdings II Pte. Ltd. Sunu Mathew has played an instrumental role in scaling the business from its inception into a national logistics powerhouse. Before the IPO, the promoters held a 96.79% stake in the company. However, since the offering involves the sale of up to 12.57 crore equity shares by existing shareholders, the promoters' shareholding will be majorly diluted.

Board & Key Management

The leadership of LEAP India Ltd. is led by a team of experts with many years of experience. Sunu Mathew serves as the Chairman & Managing Director and gives strategic direction to the firm as well as manages the daily operations, along with Whole-Time Directors. To ensure good governance, the board includes Independent Directors Harinarayanan Nair Sreedharan, Sanjiv Gupta and Maithilee Jamsandekar for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.