Leap India IPO GMP today is Rs 13. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
LEAPIND
Leap India IPO GMP, Subscription & Allotment Status Today
LEAP India is an asset pooling company that provides supply chain solutions across India. The company’s core business involves the pooling of a large asset base, including over 14.7 million pallets, containers, and material handling equipment (MHEs). It rents these assets to over 1,000 clients in sectors such as fast-moving consumer goods (FMCG), automotive, industrials, and logistics. The company’s primary source of revenue is rental income from these pooled assets. Operating under a full-service model, LEAP India manages the warehousing and distribution of its returnable packaging assets through a pan-India network of 29 fulfilment centres and over 10,100 customer touchpoints. The entire business operates as a single segment focused on the hiring and trading of pallets, crates, and related services.
- Price Band
- ₹151.00 - ₹159.00
- Lot Size
- 94 Shares
- Bidding Closes
- 11 Aug 2026
- Listing Date
- 14 Aug 2026
Current GMP Status
₹13
+8.18% vs upper band
Est. Listing Gain
+4.34%
Last Trend
10 Aug 2026
Listing Price
₹165.90
Retail Entry
₹14,946
IPO Details
Complete IPO information
| Current GMP | ₹13 |
|---|---|
| Estimated Listing Gain | +4.34% |
| Price Band | ₹151.00 - ₹159.00 |
| Issue Price | Approx ₹159.00 Crores |
| Listing Price | ₹165.90 |
| Lot Size | 94 Shares |
| Issue Type | Mainboard |
| Registrar | TBA |
| Exchange | BSE, NSE |
| Retail Quota | TBA |
| Overall Subscription | 8.38x |
| Listing Date | 14 Aug 2026 |
| Minimum Investment | ₹14,946 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 328.31 | 5528.46 | 16.84x |
| NII | 246.23 | 3111.84 | 12.64x |
| Retail | 574.54 | 983.20 | 1.71x |
| Overall Subscription | 1149.92 | 9632.59 | 8.38x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Leap India is priced at ₹159 per share. With a minimum lot size of 94 shares, a retail investor applying for one lot would need approximately ₹14,946 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Leap India stands at ₹13, implying an estimated listing gain of around 8.18% over the issue price if it holds until listing. This is down ₹4 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Leap India's IPO was subscribed 8.38x overall, with a category-wise breakdown of Retail 1.71x, QIB 16.84x, NII 12.64x.
Among the strengths highlighted in Leap India's IPO documents: Largest on-demand asset pooling provider in India by number of pooled assets.; Asset-light pooling model drives high utilisation and recurring revenues..
Investors should also weigh the risk factors Leap India has disclosed, including: High dependence on the pallet pooling business for the majority of revenue..
A share of Leap India's issue proceeds is earmarked for Repayment Of Borrowings: 360 (75%).
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
07 Aug 2026
✓
Bidding Closes
11 Aug 2026
✓
Allotment
12 Aug 2026
✓
Listing
14 Aug 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 10 Aug 2026 | ₹16.00 | -₹4.00 | 10.06% |
| 07 Aug 2026 | ₹20.00 | - | 12.58% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 94 | ₹14,946 |
| Retail Maximum | 13 Lot | 1,222 | ₹1,94,298 |
| S-HNI Minimum | 14 Lot | 1,316 | ₹2,09,244 |
| S-HNI Maximum | 66 Lot | 6,204 | ₹9,86,436 |
| B-HNI Minimum | 67 Lot | 6,298 | ₹10,01,382 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
- Repayment Of Borrowings 360 (75%)
- General Corporate Purpose 120 (25%)
Issue Notes
Important takeaways before applying
Strengths
- Largest on-demand asset pooling provider in India by number of pooled assets.
- Asset-light pooling model drives high utilisation and recurring revenues.
- Long-term contracts with diversified customers across FMCG and manufacturing.
- Integrated services covering pallets, containers, and material handling equipment.
- Technology-enabled tracking improves efficiency, visibility, and asset control.
Risks
- High dependence on the pallet pooling business for the majority of revenue.
- Loss or damage of pooled assets could increase costs and impact margins.
- Customer non-renewal or contract termination may affect cash flows.
- Dependence on suppliers and service partners for operations and maintenance.
- High borrowings expose the company to interest rate and covenant risks.
Analysis
LEAP India IPO Details
LEAP India Limited is launching its Initial Public Offering (IPO) through the Book-built Issue route. The IPO comprises a combination of a Fresh Issue of equity shares and an Offer for Sale (OFS) by existing shareholders. While the proceeds from the fresh issue will be utilized for the company's growth initiatives and corporate requirements, the Offer for Sale enables existing shareholders to partially monetize their investment.
The equity shares of LEAP India Limited are proposed to be listed on both the BSE and NSE. Investors can subscribe to the IPO during the issue period within the announced price band.
| Particular | Details |
|---|---|
| IPO Open Date | August 7, 2026 |
| IPO Close Date | August 11, 2026 |
| Face Value | ₹1 Per Equity Share |
| IPO Price Band | ₹151 to ₹159 Per Share |
| Issue Size | Approx ₹2,480 Crores |
| Fresh Issue | Approx ₹480 Crores |
| Offer for Sale (OFS) | Approx 12,57,86,163 Equity Shares |
| Issue Type | Book-built Issue |
| IPO Listing | BSE, NSE |
Analysis
LEAP India IPO Reservation
The LEAP India IPO follows the SEBI-prescribed allocation structure for a Book-built Issue. The issue is reserved for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Individual Investors (RIIs), and Anchor Investors. The final allotment in each category will be determined based on investor demand and the basis of allotment finalized after the IPO closes.
The category-wise reservation details for the public issue are provided below.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| Qualified Institutional Buyers (QIB) (Excluding Anchor) | – Shares | 50% |
| Non-Institutional Investors (NII) | – Shares | 15% |
| Retail Individual Investors (RII) | – Shares | 35% |
Note: The exact number of shares reserved for each investor category, including Anchor Investors, will be disclosed before the IPO opens for subscription. The final allocation will be carried out in accordance with SEBI regulations and the approved issue structure.
Analysis
LEAP India IPO Anchor Investors
LEAP India Limited has reserved a portion of its IPO for eligible Anchor Investors before the public subscription begins. Anchor investors are Qualified Institutional Buyers (QIBs) who participate in the issue one working day before the IPO opens, helping strengthen price discovery and enhance confidence among public investors.
The details below include the anchor bidding schedule, proposed allocation, issue size, and the applicable SEBI-prescribed lock-in periods. The final list of anchor investors and allocation details will be announced after the completion of the anchor placement process.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 6, 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Issue Size | [.] Crores |
| Lock-in Period End Date (50% Shares – 30 Days) | 2026 |
| Lock-in Period End Date (Remaining 50% Shares – 90 Days) | 2026 |
Note: The final anchor investor list, number of shares allotted, anchor issue size, and exact lock-in period end dates will be updated after the completion of the anchor allocation process. The lock-in period for anchor investors will be applicable in accordance with SEBI regulations.
Analysis
LEAP India IPO Dates
The LEAP India IPO will open for subscription on August 7, 2026 and close on August 11, 2026. The basis of allotment is expected to be finalized on August 12, 2026. Refunds for unsuccessful applicants and the credit of allotted equity shares to successful investors' demat accounts are scheduled for August 13, 2026.
The equity shares of LEAP India Limited are proposed to be listed on both the BSE and NSE on August 14, 2026. Investors should keep track of these important dates to monitor the IPO subscription, allotment process, and listing schedule.
| IPO Event | Date |
|---|---|
| IPO Open Date | August 7, 2026 |
| IPO Close Date | August 11, 2026 |
| Basis of Allotment | August 12, 2026 |
| Refunds | August 13, 2026 |
| Credit to Demat Account | August 13, 2026 |
| IPO Listing Date | August 14, 2026 |
Note: The above IPO schedule is tentative and may be revised by the company, the registrar, or the stock exchanges. Investors are advised to refer to the official IPO documents and exchange announcements for the latest updates.
Analysis
LEAP India IPO Promoters and Holding Pattern
The promoters of LEAP India Limited have played a significant role in the company's growth and strategic expansion. Following the IPO, the promoter group's shareholding will change due to the fresh issue of equity shares and the Offer for Sale (OFS), resulting in an increase in public shareholding.
The table below summarizes the shareholding pattern before and after the IPO based on the proposed issue structure.
Promoters of LEAP India Limited
- Sunu Mathew
- Vertical Holdings II Pte. Ltd.
| Category | Pre IPO Shares | Pre IPO Holding | Post IPO Shares | Post IPO Holding |
|---|---|---|---|---|
| Promoter and Promoter Group | 39,28,15,012 | 95.73% | – | -% |
| Others* | 1,75,32,768 | 4.27% | – | -% |
| Total | 41,03,47,780 | 100% | 44,05,36,459 | 100% |
Note: The post-IPO promoter and public shareholding percentages will be disclosed after the completion of the IPO and final allotment process. The above figures are based on the proposed issue structure outlined in the offer documents.
Analysis
LEAP India IPO Objects of the Issue & Utilisation of Proceeds
LEAP India Limited intends to utilize the net proceeds from the fresh issue primarily to strengthen its balance sheet by reducing its outstanding debt. Repayment and prepayment of borrowings are expected to lower finance costs, improve the company's debt profile, and provide greater financial flexibility to support future business growth.
Any remaining proceeds, if applicable, will be utilized for general corporate purposes in accordance with the objectives outlined in the offer documents and applicable regulatory requirements.
| Purpose | Amount |
|---|---|
| Repayment / Prepayment, in Full or in Part, of Certain Borrowings Availed by the Company | ₹360.00 Crores |
| General Corporate Purposes | ₹- |
Note: The proposed utilization of IPO proceeds is based on the objectives disclosed in the Draft Red Herring Prospectus (DRHP)/Red Herring Prospectus (RHP). The company may utilize the proceeds in accordance with business requirements and applicable regulatory guidelines.
Analysis
LEAP India About Ipo
To be updated soon
Analysis
LEAP India IPO Company Financial Report
LEAP India Limited has reported strong financial growth over the last three financial years. The company has consistently increased its revenue while maintaining healthy profitability and expanding its asset base. The improvement in financial performance reflects the company's business expansion, operational efficiency, and growing market presence ahead of its Initial Public Offering (IPO).
The financial summary below presents the company's revenue, expenses, Profit After Tax (PAT), and total assets for the reported financial years. These audited figures provide investors with an overview of LEAP India Limited's historical financial performance and financial position before listing.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹371.94 Cr. | ₹325.24 Cr. | ₹37.17 Cr. | ₹1,400.28 Cr. |
| 2025 | ₹485.03 Cr. | ₹432.97 Cr. | ₹37.56 Cr. | ₹2,042.46 Cr. |
| 2026 | ₹747.36 Cr. | ₹666.50 Cr. | ₹62.34 Cr. | ₹2,401.05 Cr. |
Amount in ₹ Crores: The above financial figures are based on the audited financial statements disclosed by LEAP India Limited in its IPO documents. They provide a summary of the company's historical financial performance and financial position prior to its proposed listing.
Analysis
LEAP India IPO Valuation – FY2026
The valuation metrics of LEAP India Limited provide investors with valuable insights into the company's profitability, financial strength, operational efficiency, and overall valuation before the IPO. Key financial indicators such as Earnings Per Share (EPS), Return on Equity (ROE), Return on Capital Employed (ROCE), EBITDA Margin, Return on Net Worth (RoNW), Debt-to-Equity Ratio, and Net Asset Value (NAV) help assess the company's financial performance.
Based on the FY2026 audited financial statements, LEAP India has reported healthy operating margins, steady profitability, and efficient capital utilization. The final Price-to-Earnings (P/E) ratio will be available after the IPO price is finalized and the company's shares are listed on the stock exchanges.
| KPI | Values |
|---|---|
| ROE | 6.48% |
| ROCE | 19.06% |
| EBITDA Margin | 50.69% |
| PAT Margin | 8.34% |
| Debt to Equity Ratio | 1.01 |
| Earning Per Share (EPS) | ₹1.52 (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 6.19% |
| Net Asset Value (NAV) | ₹24.52 |
Note: The above valuation metrics are based on the FY2026 audited financial statements of LEAP India Limited. The final Price-to-Earnings (P/E) ratio will be calculated after the IPO price is finalized and the company's equity shares are listed on the BSE and NSE.
Analysis
Peer Group Comparison
- There are no listed comparable companies in India or globally
Analysis
IPO Lead Managers aka Merchant Bankers
- JM Financial Ltd.
- Avendus Capital Pvt. Ltd.
- IIFL Capital Services Ltd.
- UBS Securities India Pvt. Ltd.
FAQ
Leap India IPO FAQs
Leap India IPO price band is Rs 151.00 to Rs 159.00. Check the latest issue price, lot size and GMP together before applying.
Leap India IPO open date is 07 Aug 2026, close date is 11 Aug 2026, and listing date is 14 Aug 2026.
Leap India IPO lot size is 94 shares. The minimum retail investment is Rs 14,946.
Leap India is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Leap India IPO subscription status currently shows Retail 1.71x, QIB 16.84x, NII 12.64x, Overall 8.38x.
LEAP India is an asset pooling company that provides supply chain solutions across India. The company’s core business involves the pooling of a large asset base, including over 14.7 million pallets, containers, and material handling equipment (MHEs). It rents these assets to over 1,000 clients in sectors such as fast-moving consumer goods (FMCG), automotive, industrials, and logistics. The company’s primary source of revenue is rental income from these pooled assets. Operating under a full-service model, LEAP India manages the warehousing and distribution of its returnable packaging assets through a pan-India network of 29 fulfilment centres and over 10,100 customer touchpoints. The entire business operates as a single segment focused on the hiring and trading of pallets, crates, and related services.
Leap India IPO issue size is 2480 and the expected allotment date is 12 Aug 2026.
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