Leapfrog Engineering Services IPO

Leapfrog Engineering Services IPO Details

Leapfrog Engineering Services IPO is a 100% book-built issue of up to ₹89 crore, comprising a fresh issue of 3.46 crore equity shares worth up to ₹79.60 crore and an offer for sale (OFS) of 38.88 lakh equity shares worth up to ₹8.91 crore, with a face value of ₹1 per share. The company filed its DRHP with SEBI on February 4, 2025.

The price band is set at ₹21 to ₹23 per share and the lot size for an application is 6,000 shares. The IPO will open for subscription from April 23 to 27, 2026, on the BSE SME platforms, with a tentative listing date fixed as April 30, 2026. The book-running lead manager for this issue is Finshore Management Services Ltd., while the registrar to the issue is Integrated Registry Management Services Private Ltd.

Leapfrog Engineering Services IPO Date & Timeline

The Leapfrog Engineering Services IPO is officially set to open for subscription on Apr 23, 2026 and will close on Apr 27, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on February 4, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window allotment is expected on Apr 28, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on Apr 29, 2026. Finally, Leapfrog Engineering Services Ltd.'s shares are tentatively scheduled to list on the stock exchanges on Apr 30, 2026.

Leapfrog Engineering Services 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 Leapfrog Engineering Services 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

Leapfrog Engineering Services Ltd. was incorporated as "Leapfrog Informatics Private Limited" on May 9, 2005, in Bengaluru, Karnataka. Over the years, the company evolved its business focus, leading to a name change to "Leapfrog Engineering Services Private Limited" in 2009, before eventually converting into a public limited company in June 2024.

The firm has evolved from operating in a single domain to becoming a multi-disciplinary engineering company that has been in existence for more than two decades. It is an integrated engineering services company that offers EPCC solutions to various industries, such as the oil and gas industries and the food industries, among others. With operations for more than 20 years and consistently pursuing excellence, the firm stands out in electrical works, instrumentation, automation, fire protection and project management, among others.

Operations & Product Range

Leapfrog Engineering Services Ltd. is mainly involved in providing EPCC services, which include electrical, instrumentation, fire protection, modular substation, and automation systems engineering. This firm provides services to various industries, including Oil and Gas, Food Processing, Pharmaceuticals, and Metals, among others. The variety of engineering services this company provides makes it an all-encompassing service provider in the industry.

Facilities & Capacity

Leapfrog Engineering Services Ltd. manages its engineering projects through its corporate and registered office in Bengaluru. To support the growing contract pipeline, the company plans to establish a dedicated assembling unit in Bengaluru. This new facility, located at Akshya Nagar, is intended to help the company scale its operations and bring more engineering processes in-house.

Brands & Market Presence

Leapfrog Engineering Services Ltd. has established itself as a versatile service provider with a footprint that extends across several Indian states and multiple international locations. The company focuses on building long-term relationships with large industrial clients in the manufacturing and process industries. This extensive geographical reach, combined with our extensive spectrum of services, enables them to address complex engineering challenges with precision and efficiency

Revenue Streams & Business Model

The primary revenue source of Leapfrog Engineering Services Ltd. is from EPC contracts (Engineering, Procurement, and Construction). During FY24, the company generated an operating income of ₹15,785.42 lakhs, having an EBITDA margin of 12.50%, the highest margin compared to the last few financial years. Overall, the company makes a major part of its buying and working activities in Karnataka and Maharashtra and it also caters to the needs of overseas clients.

Management & Shareholding

Leapfrog Engineering Services Ltd. is led by its promoters, Mr. Prabhav Narasimha Rao and Mrs. Priyashaila Prabhav Rao. The promoters of the company collectively held 86.99% of the ownership stake, while the promoter group held 5.60% of the stake; collectively, they hold 92.59% of the ownership stake. But, after the IPO, the promoters and promoter group’s stakeholding will dilute, as this issue offers an offer for sale of 38.88 lakh equity shares to give a smooth exit to existing shareholders.

Board & Key Management

The board members of Leapfrog Engineering Services Ltd. include the Managing Director, Mr. Prabhav Narasimha Rao, and the Whole-Time Director, Mrs. Priyashaila Prabhav Rao, both of whom are the most stakeholding promoters of the company. The senior management is strengthened by professionals such as Mr. Bhaskar Shenoy, who is the CTO (Chief Technical Officer) in charge of automation, having more than 34 years of experience in engineering. Additionally, the firm has appointed a Company Secretary, Ms. Sneha Hegde, and the CFO (Chief Financial Officer), Mrs. Sapna Raghvendra, to handle the firm’s regulatory and financial