LEAP India shares list at 4% premium over IPO price on BSE, NSE

Shares of LEAP India made their D-Street debut on Friday, listing at a modest premium of 4% over their IPO price. The stock opened at Rs 166 apiece on the BSE, marking a 4.4% premium over the IPO price of Rs 159. On the NSE, it opened at Rs 165.90, translating into a 4.34% premium. The listing fell short of unlisted market expectations, which had suggested an 8% listing gain for IPO investors.

The stock was commanding a grey market premium of 8% ahead of its debut.

The public issue, which was open for subscription between August 7 and August 11, was subscribed 8.38 times overall. The retail investor portion was booked 1.71 times, while the qualified institutional buyers (QIB) category saw 16.84 times subscription and the non-institutional investor (NII) segment was subscribed 12.64 times.


Backed by global investment firm KKR, LEAP India is a prominent provider of asset-pooling and logistics infrastructure solutions. The IPO consisted of a fresh issue of 3.02 crore equity shares aggregating Rs 480 crore and an offer for sale (OFS) of 12.58 crore shares worth approximately Rs 2,000 crore. The company fixed the IPO price band between Rs 151 and Rs 159 per share.

JM Financial Ltd. served as the book-running lead manager for the IPO, while MUFG Intime India Pvt. Ltd. was appointed as the registrar to the issue.

Also Read: Shiprocket IPO Day 3: GMP signals 38% listing premium, subscribed 3.16 times; should you subscribe?

How LEAP India plans to use IPO proceeds

The company plans to utilize the IPO proceeds primarily to strengthen its financial position and support future expansion. Approximately Rs 360 crore of the net proceeds will be used to repay or prepay certain outstanding borrowings. The remaining funds will be allocated toward general corporate purposes, enabling LEAP India to enhance operational capabilities and pursue strategic growth opportunities.

About LEAP India

Founded in 2013, LEAP India Ltd. operates in the sustainable supply chain and logistics infrastructure space, providing asset-pooling and reusable packaging solutions to businesses across multiple industries.

The company provides a comprehensive suite of services, including equipment pooling, returnable packaging solutions, inventory management, transportation services, and repair and maintenance support. These offerings enable businesses to improve supply chain efficiency, optimize asset utilization, and streamline logistics operations.

Its solutions cater to sectors such as FMCG, food and beverage, third-party logistics (3PL), e-commerce, quick commerce, automotive, consumer durables, and industrial segments. Global investment firm KKR acquired a majority stake in LEAP India in 2023 as part of its Asia infrastructure investment strategy, supporting the company’s expansion plans.

LEAP India has built a strong customer network of more than 1,000 clients as of March 31, 2026, including leading companies such as Hindustan Coca-Cola Beverages Private Limited, Marico Limited, Toll (India) Logistics Private Limited, Daikin Airconditioning India Private Limited, and Panasonic Life Solutions India Private Limited. The company also integrates ESG principles into its operations by focusing on responsible sourcing, sustainable product design, and solutions aimed at reducing supply chain waste. As of March 31, 2026, LEAP India had 419 permanent employees and 2,062 material handling equipment (MHE) operators supporting its operations.

Also Read: Can Lalithaa Jewellery Mart IPO deliver long-term growth for high-risk investors?

LEAP India Financial Performance

LEAP India reported strong financial growth in FY2026, driven by increasing demand for sustainable supply chain and logistics solutions. For the financial year ended March 31, 2026, the company’s total income rose to Rs 747.36 crore from Rs 485.03 crore in FY2025, registering a 54% year-on-year increase.

The company also witnessed a significant improvement in profitability, with Profit After Tax (PAT) climbing to Rs 62.34 crore in FY2026, compared with Rs 37.56 crore in the previous financial year. This represents a 66% year-on-year growth.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)