Liquidity Events
Supply chain asset pooling co. Leap India’s Rs.2,480-Cr IPO subscribed 8.38 times
The INR 2,480 crore initial public offering (IPO) of Mumbai-based Leap India has been subscribed 8.38 times on the final day of the bidding process. The qualified institutional buyers’ portion was subscribed 16.84 times, the non-institutional investors’ portion 12.64 times, and the retail portion 1.71 times.The INR 2,480 crore issue comprised a fresh issue of INR 480 crore and an offer for sale (OFS) of INR 2,000 crore. KKR-backed Vertical Holdings II and a promoter group entity, KIA EBT Scheme 3, are offloading shares through the OFS. JM Financial is the book-running lead manager for the transaction.Founded in 2013, the company provides asset-pooling, logistics infrastructure, and reusable packaging solutions to industries such as FMCG (fast-moving-consumer-goods), food and beverage and third-party logistics. The company intends to use the proceeds from the public issue to support its ongoing operations and capital requirements.
Between Dec 2014 and Aug 2026, Leap India had attracted about USD 512-M from KKR, FirstBridgeFund, Narotam Sekhsaria Family Office, Niveshaay, Sixth Sense Ventures, Dymon Asia Capital, GIC, and others.For FY25, Leap India had reported about INR 378 Cr in Operating Income and about INR 40 Cr in PAT.
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