Upcoming IPO: Leap India Files Draft Papers With SEBI To Raise Rs 2,400 Crore Via Fresh Issue, OFS

Leap India Ltd. has filed draft red herring prospectus with the Securities Exchange Board of India to raise Rs 2,400 crore from the primary market. Its initial offer comprises of both the fresh issue and offer for sale.

Lead India is offering shares worth Rs 400 crore as fresh issue, while promoters are offloading shares worth Rs 2,000 crore as offer for sales. The face value of each share is Rs 1.

Vertical Holding II Pte. KIA EBT Scheme 3 are the promoters who selling their stakes worth Rs 1,998 crore and Rs 1.4 crore, according to data on the DRHP.

JM Financial Ltd., Avendus Capital Pvt. Ltd., IIFL Capital Services Ltd. UBS Securities India Pvt. Ltd. are the leading book running manager for the issue.

Leap India is intending to use Rs 3,00.2 crore from the IPO proceeds to pay off their debt. The company will utilise the rest for general corporate purpose. As of May 31, Leap India has Rs 837.8 crore outstanding borrowing, the company revealed in the DRHP.

Leap India is the largest pooling provider in India's supply chain management sector. The company has 1.4 crore assets assets and maintains pan-India network of 7,747 customer touchpoints. "This circular business model supports our customers while reducing environmental impact and enhancing the time and cost efficiency and safety of supply chains for our customers across India," Leap India said in the DRHP.

Leap India has reported a net profit of Rs 37.5 crore for the financial year 2025 compared to Rs 37.1 crore net profit reported in the previous financial year. Its revenue from the operation was at Rs 466 crore. Net worth of the company is Rs 917.3 crore.