About LEAP India IPO
LEAP India IPO Details
The LEAP India IPO is a 100% book-built issue of worth up to ₹2,400 crore, comprising a fresh issue of worth up to ₹400 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 and official dates of subscription and listing’s opening/closing will be announced by the company later, but the shares are supposed to be listed 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 as the registrar.
LEAP India IPO Date & Timeline
LEAP India Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on September 29, 2025. However, the specific LEAP India IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalise the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.
LEAP India IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
LEAP India IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 1 per share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Capital & OFS |
| Total Issue Size | [.] shares (agg. up to ₹ 2,400 Cr) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | [.] shares (agg. up to ₹ 400 Cr) |
| Offer for Sale | [.] shares of ₹1 (agg. up to ₹ 2,000 Cr) |
| Net Offered to Public | - |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 12,07,30,296 shares |
| Share Holding Post Issue | - |
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 ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% 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 and started 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. Today, the core business provides 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
The primary revenue channel of LEAP India Ltd. is the strategic rental and pooling of its logistics equipment. Corporate customers pay regular fees for the usage of pallets and containers over defined periods, creating a highly visible, recurring revenue base. For FY25, the company has reported a ₹ 485.03 crore total income and profit after tax (PAT) was ₹ 37.56 crore.
This business model is attractive because it shifts logistics infrastructure costs from capital expenditure to operational expenditure for clients. Consistent demand from the domestic FMCG, automotive and e-commerce sectors forms the core foundation of the company’s revenue generation and growth profile.
Management & Shareholding
Experienced promoters lead the management structure of LEAP India Ltd., supported by prominent institutional shareholders. The company’s promoters 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 an approx 95.21% stake in the company, but after the IPO, the promoters and promoter group will face dilution in their stakeholding because this issue comprises an offer for sale, which allows existing shareholders to lose their ownership in the company.
Board & Key Management
The strategic operations and long-term planning of LEAP India Ltd. are overseen by well-structured board members and an experienced key management team. Sunu Mathew continues to spearhead the company’s vision and day-to-day execution, driving the main strategies for asset pooling. The company has strengthened its corporate governance framework by adding capable independent directors to the board to maintain and strengthen its management team. The leadership team prioritises maximising asset utilisation rates and managing the complex fulfilment network.
LEAP India IPO Financial Information
Latest Revenue
485.03
₹ Crore
Profit After Tax
37.56
₹ Crore
Net Worth
917.35
₹ Crore
Total Borrowing
801.66
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 2,042.46 | 485.03 | 37.56 | 917.35 | 606.09 | 801.66 | |||
| 31 Mar 2024 | 1,400.28 | 371.94 | 37.17 | 714.18 | 521.84 | 513.07 | |||
| 31 Mar 2023 | 1,115.39 | 258.17 | 9.01 | 569.41 | 525.83 | 354.54 | |||
| Amount in ₹ Crore | |||||||||
LEAP India Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 4.60% |
| ROCE | 18.01% |
| Debt/Equity | 0.87 |
| RoNW | 4.09% |
| PAT Margin | 39.44% |
| EBITDA Margin | 56.45% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.00 (basic) | [.] |
| P/E (x) | [.] | [.] |
LEAP India IPO Objectives
The company intends to utilise the LEAP India IPO proceeds for key objectives:
- • Repayment or pre-payment of debt (in part or in full)
- • General corporate purposes
LEAP India IPO Review
The LEAP India IPO Review involves examining its market positioning and financial performance. As the largest asset pooling provider in the logistics industry, the company enjoys significant scale advantages. This firm's approach of 'share and reuse' is in line with the current corporate strategies, putting it in an ideal place for expansion in the Indian logistics industry.
For FY25, the total income of LEAP India increased from ₹371.94 crore to ₹485.03 crore and the net profit after tax (PAT) increased from ₹37.17 crore to ₹37.56 crore, revealing that high finance charges and depreciation affect profitability negatively.
The DRHP emphasises the company's strong client relationships and the capital-intensive nature of the business, which deters new entrants. Using the proceeds to pay off debt to strengthen the balance sheet and to operate the day-to-day activities expenses. Overall, the IPO presents a unique opportunity in logistics infrastructure, though capital requirements are a concern.
Conclusion
The LEAP India IPO is an opportunity for investors to invest in a growing company that is a leading player in the supply chain asset pooling industry and capital markets. The strong operational network, substantial asset portfolio and emphasis on the "share and reuse" strategy serve as a firm ground for continuous leadership in the market. This offering focuses on improving the financial statements and daily operations of the organisation.
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Competitive Strengths
Being the largest on-demand supplier chain asset pooling firm in India, functioning within an industry with stiff barriers to entry
Strong business model with the ability to create multiple sources of income from its diversified and blue-chip customer portfolio
Wide presence across India, along with dedicated centres for fulfilment and several thousand customer contact points
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 05/12/2025 | - |
| 2 | Filed with SEBI/Exchange | 29/09/2025 | View DRHP |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 0 | 1400015000 |
| Individual investors (Retail) (Max) | 0 | 0 | 200000 |
| S-HNI (Min) | 0 | 0 | 200000 |
| S-HNI (Max) | 0 | 0 | 1000000 |
| B-HNI (Min) | 0 | 0 | 1000000 |