LEAP India files RHP for Rs 2,480 crore IPO opening August 7

LEAP India Limited has filed its red herring prospectus with SEBI for a Rs 2,480 crore initial public offering. The IPO is scheduled to open for subscription on August 7 and close on August 11, with the anchor book opening on August 6. The company has fixed the price band at Rs 151 to Rs 159 per share.

The IPO comprises a Rs 480 crore fresh issue and a Rs 2,000 crore offer for sale. LEAP India increased the fresh issue size from the Rs 400 crore proposed in its draft red herring prospectus filed in August last year. The OFS will be led by KKR-backed promoter entity Vertical Holdings II Pte. Ltd., which plans to sell shares worth Rs 1,998.6 crore, while KIA EBT Scheme 3 will offload shares worth around Rs 13.8 crore.

Of the fresh issue proceeds, Rs 360 crore will be used to repay certain borrowings. The remaining amount will be allocated for general corporate purposes. JM Financial, Avendus Capital, IIFL Capital and UBS Securities are the book-running lead managers, while MUFG Intime India is the registrar.

Founded in 2013, LEAP India provides pallet pooling, container pooling and related material-handling solutions across industries, with clients in FMCG, pharma and e-commerce. As of the RHP filing date, KKR-backed Vertical Holdings II Pte. Ltd. is the largest shareholder with a 73.78% stake, followed by founder Sunu Mathew with 21.07%. For the fiscal year ended March 2026, LEAP India reported operating revenue of Rs 730 crore, up 57% year-on-year from Rs 466 crore in FY25, while profit rose over 70% to Rs 63 crore.