LEAP India IPO
LISTEDMAINBOARDSUBSCRIBEListing Performance
Listed
Issue Price
₹159
Listed On
14 Aug 2026
- Price Band
- ₹151 – ₹159
- Lot Size
- 94
- Lot Value
- ₹14,946
- Open Date
- 07 Aug 2026
- Close Date
- 11 Aug 2026
- Min Investment
- ₹14,946
LEAP India — Live Stock Performance
About LEAP India
Provides pallet pooling services (sale of services - pallets) and related asset management solutions to customers in the supply chain.
Use of IPO Proceeds
Total allocation: ₹300.12 Cr (excludes issue expenses)
Promoters
Sunu Mathew
Pre-issue: 21.34%
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: BSE, NSE
Strengths (6)
- •Largest on-demand asset pooling provider in India's supply chain management sector
- •Comprehensive suite of supply chain assets including pallets, containers, and MHE
- •Pan-India network of 7,747 customer touchpoints and 30 fulfillment centres
- •Established partnerships with over 900 customers including blue-chip companies
- •Long-standing profitability track record, PAT positive since 2020
- •Leadership in pallet pooling with innovation in lithium-ion forklifts and IoT fleet management
Risk Factors (6)
- •Long-term customer contracts; non-renewal or reduced scope could adversely impact business, financial condition, and cash flows.
- •Technology infrastructure disruption or failure could materially affect growth prospects, reputation, business, and financial condition.
- •Dependence on few large customers increases concentration risk and vulnerability to relationship impairment or termination.
- •Asset loss, damage, and theft due to poor retrieval rates and reverse logistics inefficiency erode margins significantly.
- •Raw material price volatility for wood, plastic, metal significantly impacts pallet repair and replacement costs.
- •High capital investment requirements for pallet fleets and tracking infrastructure create substantial financial risk.
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
“Strong investor demand with 7x subscription suggests positive listing momentum. GMP indicates market expects a listing premium.”
- ✅Subscribed 7x
- ✅Strong QIB demand 13x
- ⚠️Neutral GMP +8%
- ✅6 business strengths identified
- ⚠️6 risk factors noted
- ✅Mainboard IPO (higher regulatory standards)
- ⚠️High OFS ratio — promoters selling shares
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 94 | ₹14,946 |
| Retail (max) | 13 | 1,222 | ₹1,94,298 |
| S-HNI (min) | 14 | 1,316 | ₹2,09,244 |
| S-HNI (max) | 66 | 6,204 | ₹9,86,436 |
| B-HNI (min) | 67 | 6,298 | ₹10,01,382 |
Subscription Status
| Category | Day 1 | Day 3 | Day 4 | Day 5 |
|---|---|---|---|---|
| QIB | 0.00x | 12.83x | 0.00x | 12.83x |
| sNII (S-HNI) | 0.11x | 8.66x | 0.52x | 8.65x |
| bNII (B-HNI) | 0.07x | 12.76x | 0.37x | 12.76x |
| Retail | 0.08x | 1.20x | 0.28x | 1.20x |
| Total | 0.06x | 6.71x | 0.23x | 6.71x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
1.20x
Allotment Ratio
1 lot per 2 applicants
Allotment Probability
~83.3%
Non-Institutional Investors (NII / HNI)
Subscription
11.39x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
12.83x
Allotment Type
Discretionary allotment
Total Subscription
6.71x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
IPO Timeline
Issue Opens
07 Aug 2026 · Fri
Issue Closes
11 Aug 2026 · Tue
Bidding Cut-off (UPI Mandate)
11 Aug 2026 · 5:00 PM IST
Allotment
12 Aug 2026 · Wed
Listing
14 Aug 2026 · Fri
Issue Opens
07 Aug 2026 · Fri
Issue Closes
11 Aug 2026 · Tue
Bidding Cut-off (UPI Mandate)
11 Aug 2026 · 5:00 PM IST
Allotment
12 Aug 2026 · Wed
Listing
14 Aug 2026 · Fri
IPO Details
| Registrar | MUFG Intime India Private Limited |
| Exchange | BSE, NSE |
| ISIN | — |
| Face Value | ₹1 |
| Issue Size | ₹2480.00 Cr |
| Fresh Issue | ₹400.00 Cr |
| OFS Size | ₹2000.00 Cr |
| Lead Managers | JM Financial Limited, Avendus Capital Private Limited, IIFL Capital Services Limited, UBS Securities India Private Limited |
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 466.47 | 37.56 | — | — | — |
| FY24 | 364.97 | 37.17 | — | — | — |
| FY23 | 253.37 | 9.01 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Income | 258.17 | 371.94 | 485.03 |
| EBITDA | 126.29 | 209.92 | 273.8 |
From the company's offer document (DRHP/RHP); restated figures where available.
Company Fundamentals
9 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | ₹0.30 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
Source: LEAP India offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in LEAP India's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in LEAP India's filing.
Source: LEAP India offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Vertical Holdings II Pte. Ltd.₹1998.62 Cr
- KIA EBT Scheme 3 (acting through its trustee, Catalyst Trusteeship Limited)₹1.38 Cr
Source: LEAP India offer document (DRHP/RHP).
Board & Management
Board & management not disclosed in this filing.Director/KMP details were not extracted from LEAP India's filing.
Industry & Market
Industry & market data not disclosed in this filing.Market-size/industry detail was not extracted from LEAP India's filing.
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Tax | Company | 67 | 2.896 |
| Tax | Subsidiaries | 5 | 0.047 |
| Tax | Promoters | 1 | — |
The company is involved in two material civil litigations: (1) an arbitration petition filed in December 2019 against Radhakrishna Foodland Private Limited for recovery of ₹39.73 million in dues related to pallet hire and supply services, currently pending evidence recording before an arbitrator; and (2) an insolvency application filed in March 2023 against Rivigo Services Private Limited as operational creditor for ₹14.39 million in unpaid dues under the Insolvency and Bankruptcy Code, currently pending before NCLT Chandigarh.
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:MUFG Intime India Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the LEAP India IPO opening?
The LEAP India IPO opens on 07 Aug 2026 and closes on 11 Aug 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the LEAP India IPO?
The price band for the LEAP India IPO is ₹151 to ₹159. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the LEAP India IPO?
The minimum lot size is 94 shares with a minimum investment of ₹14,946. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of LEAP India IPO today?
The latest Grey Market Premium for LEAP India is ₹12 (+7.55%). GMP is unofficial data and is not a guarantee of listing price.
When will the LEAP India IPO list on NSE and BSE?
The LEAP India IPO is expected to list on 14 Aug 2026 on BSE, NSE. Actual listing day trading begins at the start of the normal market session.
How can I check the LEAP India IPO allotment status?
The registrar for this IPO is MUFG Intime India Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the LEAP India IPO a mainboard or SME issue?
LEAP India is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the LEAP India IPO?
You can apply for the LEAP India IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
What is the expected listing price of LEAP India IPO?
Based on the current GMP of ₹12, the expected listing price of LEAP India is ₹171 (issue price ₹159 + GMP ₹12). Note that GMP is unofficial grey market data and actual listing price may differ.
What is the allotment ratio for LEAP India IPO?
Based on the retail subscription of 1.20x, the estimated allotment ratio is 1 lot per 2 applicants (approximately 83.3% chance of allotment). This is an estimate and actual allotment may vary.
Should I subscribe to LEAP India IPO?
Based on our algorithmic analysis, LEAP India IPO is rated SUBSCRIBE with high confidence. Strong investor demand with 7x subscription suggests positive listing momentum. GMP indicates market expects a listing premium. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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