KKR-backed supply chain and asset pooling firm LEAP India will open its Rs 2,480 crore, approximately USD 260 million, initial public offering for subscription on August 7, with the issue closing on August 11.
What is the price band and structure of the IPO?
LEAP India has set a price band of Rs 151 to Rs 159 per equity share. The anchor investor portion will open for a single day on August 6. At the upper end of the price band, the IPO values the company at approximately Rs 7,004.5 crore, around USD 735 million. The issue comprises a fresh issue of shares worth up to Rs 480 crore and an offer for sale of up to Rs 2,000 crore, with the fresh issue component raised from the earlier proposed Rs 400 crore.
Who are the selling shareholders in this IPO?
Under the offer for sale, promoter entities Vertical Holdings II Pte Ltd and KIA EBT Scheme 3, both linked to global investment firm KKR, will offload shares worth Rs 1,998.6 crore and Rs 1.4 crore respectively. According to the red herring prospectus, KKR-managed Vertical Holdings holds a 73.78 percent stake in LEAP India, while founder Sunu Mathew holds 21.07 percent. Sixth Sense India Opportunities and First Bridge India Growth Fund are among the company’s other investors.
What does LEAP India do and how large is its network?
Incorporated in 2013 and based in Mumbai, LEAP India specializes in sustainable supply chain and asset-pooling solutions, offering equipment pooling, returnable packaging, inventory management, transportation and repair and maintenance services. The company operates an asset pooling platform with 1.47 crore assets and more than 10,100 customer touchpoints across India, serving sectors including FMCG, food and beverages, third-party logistics, e-commerce, quick commerce, automotive and industrials.
How will the IPO proceeds be used?
Of the fresh issue proceeds, Rs 360 crore will go toward full or partial repayment of certain existing borrowings, with the remaining amount earmarked for general corporate purposes. Half of the net offer has been reserved for qualified institutional buyers, 35 percent for retail investors and 15 percent for non-institutional investors.
How has LEAP India performed financially?
The company’s revenue grew 54 percent and profit after tax rose 66 percent between the financial years ending March 2025 and March 2026, reflecting strong momentum in India’s organised supply chain and asset pooling segment ahead of its public listing.
