LEAP India IPO 2026: Price Band, GMP, Subscription, Financials & Key Details

The LEAP India IPO opens for subscription on August 7, 2026, and closes on August 11, 2026. The company plans to raise ₹2,480.00 crore through a combination of a fresh issue worth ₹480.00 crore and an Offer for Sale (OFS) of ₹2,000.00 crore. The IPO price band has been fixed at ₹151 to ₹159 per share, and the equity shares are proposed to be listed on both the BSE and NSE on August 14, 2026.

LEAP India Limited is India's leading supply chain asset pooling company, offering sustainable logistics solutions through a shared-use model for pallets, containers, and material handling equipment. The company serves a diversified customer base across FMCG, food & beverage, e-commerce, quick commerce, automotive, industrial, and third-party logistics sectors. Backed by global investment firm KKR, LEAP India has emerged as a key player in India's rapidly growing supply chain infrastructure industry.

In this article, we'll cover the LEAP India IPO details, GMP, subscription status, financial performance, business model, strengths, risks, valuation, and whether investors should consider applying for the IPO.

LEAP India IPO Details

LEAP India IPO Timeline

LEAP India Financial Performance

LEAP India has delivered strong financial growth over the past three financial years, supported by rising demand for organized supply chain solutions, increasing adoption of reusable logistics assets, and expansion across multiple industries. The company has consistently improved its revenue, profitability, and operating margins while strengthening its balance sheet.

During FY26, the company reported 54% growth in total income, while Profit After Tax (PAT) increased by 66% compared to the previous financial year. EBITDA also witnessed healthy growth, reflecting improved operational efficiency and scale benefits from its asset-pooling business model.

The company continues to invest in expanding its asset base, resulting in higher borrowings; however, these investments are aimed at supporting long-term growth and increasing recurring rental income.

LEAP India Financial Performance

Financial Highlights

• Revenue increased by approximately 54% during FY26.
• Profit After Tax (PAT) grew by nearly 66% year-on-year.
• EBITDA increased to ₹378.83 crore, indicating strong operating performance.
• Total assets crossed ₹2,400 crore, reflecting business expansion.
• Net worth improved to over ₹1,000 crore, strengthening the company's financial position.
• Borrowings increased primarily to support the expansion of its pooled asset portfolio and long-term business growth.

Key Financial Ratios (KPIs)

The company's financial ratios highlight a business with strong operating margins and healthy revenue growth. An EBITDA margin of over 50% demonstrates the scalability of LEAP India's asset-pooling model, while ROCE of 19.06% reflects efficient utilization of capital. However, the relatively high P/E valuation and Debt-to-Equity ratio of 1.01 suggest that investors should carefully evaluate the company's valuation and leverage before making an investment decision.

LEAP India IPO GMP

As of 3 August 2026, the LEAP India IPO GMP (Grey Market Premium) stands at ₹7 per share. Based on the upper price band of ₹159, the estimated listing price is around ₹166, indicating a potential listing gain of approximately 4.40% if the current grey market trend continues.

The Grey Market Premium offers an indication of investor sentiment before listing but should not be considered a guarantee of listing performance. GMP is unofficial, highly volatile, and can change significantly depending on market conditions and demand closer to the IPO listing date.

LEAP India IPO GMP Trend

*Estimated profit is calculated based on one retail lot (94 shares).

Although the GMP has softened slightly from ₹8 to ₹7, it still indicates positive market sentiment. Investors should remember that GMP is only one of several factors to consider before investing.
 

LEAP India IPO Subscription Status

The LEAP India IPO will remain open for subscription from 7 August 2026 to 11 August 2026.

Current Subscription: Not Open Yet

Investors can apply within the price band of ₹151–₹159 per share. Since the issue has not yet opened for bidding, subscription figures are currently unavailable. The live subscription data will be updated throughout the bidding period as applications are received across investor categories.

LEAP India IPO Day-wise Subscription Trend

The day-wise subscription details will be updated once the IPO opens for bidding.

Subscription data will be updated regularly during the IPO period using information published by BSE and NSE.

What is the Current Subscription Data for LEAP India IPO?

As the IPO has not yet opened, the live subscription data is currently unavailable.

Once bidding begins on 7 August 2026, this section will include:

The subscription numbers will be updated throughout the bidding period based on exchange data.

What is LEAP India Ltd.?

LEAP India Limited, incorporated in 2013, is India's largest supply chain asset pooling company, providing sustainable logistics and returnable packaging solutions through an asset-sharing business model. The company enables businesses to optimize supply chain operations by offering reusable logistics assets on a rental basis instead of requiring customers to purchase and maintain them.

LEAP India's services help reduce logistics costs, improve operational efficiency, and promote sustainability by minimizing the use of single-use packaging materials. The company's business model is built around asset pooling, where reusable logistics equipment is shared across multiple customers and industries.

The company serves a wide range of industries, including:

• Fast-Moving Consumer Goods (FMCG)
• Food & Beverage (F&B)
• Third-Party Logistics (3PL)
• E-commerce
• Quick Commerce
• Automotive
• Industrial Manufacturing
• Consumer Durables
• Other Commercial Sectors

Product & Service Portfolio

• LEAP India offers a diversified range of supply chain assets, including:
• Pallets
• Plastic Containers
• Returnable Packaging Solutions
• Material Handling Equipment (MHE)
• Inventory Management Services
• Transportation Solutions
• Asset Repair & Maintenance Services
• End-to-End Supply Chain Asset Pooling

A major milestone in the company's growth came in 2023, when global investment firm KKR acquired a majority stake in LEAP India as part of its Asia infrastructure investment strategy. The investment has strengthened the company's financial position and supports its long-term expansion plans.

As of March 31, 2025, LEAP India had 366 permanent employees supporting its nationwide operations. The company is promoted by Sunu Mathew and Vertical Holdings II Pte. Ltd., with the promoter group holding 95.42% of the company's equity prior to the IPO.

IPO Reservation

The equity shares are reserved among different investor categories as follows:

Objects of the LEAP India IPO

The company proposes to utilize the net proceeds from the fresh issue for the following purposes:

• ₹360 crore towards repayment or prepayment of certain existing borrowings.
• Remaining proceeds for general corporate purposes.
• Reducing debt is expected to strengthen the company's balance sheet, improve financial flexibility, and support future expansion.

Competitive Strengths

LEAP India has established itself as one of India's leading supply chain asset pooling companies with a scalable and sustainable business model. Some of its key strengths include:

• India's largest on-demand supply chain asset pooling company.
• Strong presence across high-growth sectors such as FMCG, e-commerce, quick commerce, automotive, food & beverage, and logistics.
• Asset-light and recurring revenue business model through rental-based logistics assets.
• Long-term relationships with leading blue-chip corporate customers.
• Sustainable business model promoting reusable packaging and circular supply chains.
• Strong operational network supported by technology-enabled inventory management.
• Backing from global investment firm KKR, providing financial strength and long-term growth support.
• High EBITDA margins demonstrating operational efficiency and scalability.
• Large portfolio of reusable pallets, containers, and material handling equipment.

Risks Investors Should Consider

While LEAP India operates in a growing industry, investors should also evaluate the following risks before investing:

• High dependence on continued demand from manufacturing, logistics, and e-commerce sectors.
• Capital-intensive business requiring continuous investment in supply chain assets.
• Rising borrowings may impact profitability if interest costs increase.
• Customer concentration risk, as revenue depends on maintaining long-term enterprise relationships.
• Increasing competition from organized and regional logistics service providers.
• High IPO valuation compared to current earnings, reflected in a relatively elevated P/E ratio.
• Any slowdown in industrial activity or consumption could impact asset utilization and rental income.

Looking to Invest in LEAP India Before Its IPO?

If you want to invest in LEAP India before its stock market debut, you can explore the latest updates on the company's valuation, IPO details, Grey Market Premium (GMP), and investment process through UnlistedKraft. Once eligible opportunities become available, investors can also check the latest unlisted share price, availability, and the step-by-step process for investing in pre-IPO shares.

Summary

The LEAP India IPO is a ₹2,480.00 crore Mainboard Book Build Issue, comprising a fresh issue of ₹480.00 crore and an Offer for Sale (OFS) worth ₹2,000.00 crore. The company plans to utilize the net proceeds from the fresh issue primarily for the repayment or prepayment of existing borrowings and for general corporate purposes, strengthening its balance sheet and supporting future growth.

LEAP India is India's largest supply chain asset pooling company, providing reusable pallets, containers, material handling equipment, and returnable packaging solutions to industries such as FMCG, food & beverage, e-commerce, quick commerce, automotive, industrials, and third-party logistics. Its sustainable, asset-sharing business model generates recurring revenue while helping customers optimize logistics costs and reduce environmental impact.

Financially, the company has reported impressive growth over the last three financial years. In FY26, total income increased to ₹747.36 crore, while Profit After Tax (PAT) grew to ₹62.34 crore. The company also reported a robust EBITDA margin of 50.69%, reflecting the scalability and operational efficiency of its business model.

The latest Grey Market Premium (GMP) of ₹7 indicates moderate positive sentiment ahead of the IPO. However, investors should also consider factors such as the company's relatively high valuation, capital-intensive business model, and dependence on continued demand from the logistics and supply chain sectors.

Overall, LEAP India IPO offers investors an opportunity to participate in India's rapidly expanding logistics infrastructure and supply chain ecosystem. Investors should carefully evaluate the company's valuation, subscription response, and official offer documents before making an investment decision.

Frequently Asked Questions (FAQs)

What is the LEAP India IPO?

LEAP India IPO is a Mainboard Book Build IPO with a total issue size of ₹2,480.00 crore, comprising a fresh issue of ₹480.00 crore and an Offer for Sale (OFS) of ₹2,000.00 crore.

What are the LEAP India IPO dates?

The IPO will open on 7 August 2026 and close on 11 August 2026.

What is the LEAP India IPO price band?

The company has fixed the IPO price band at ₹151 to ₹159 per equity share.

What is the lot size of the LEAP India IPO?

The minimum application size is 94 shares, requiring a minimum investment of ₹14,946 at the upper price band.

What is the minimum investment required for retail investors?

Retail investors can apply for one lot (94 shares) by investing ₹14,946 at the upper price band.

What is the LEAP India IPO GMP today?

As of 3 August 2026, the Grey Market Premium (GMP) is ₹7, indicating an estimated listing price of around ₹166 per share. Since the grey market is unofficial, the GMP may change before the listing date.

When will the LEAP India IPO allotment take place?

The tentative basis of allotment is expected to be finalized on 12 August 2026.

When is the LEAP India IPO listing date?

The shares are expected to be listed on BSE and NSE on 14 August 2026, subject to regulatory approvals.

What are the objectives of the LEAP India IPO?

The company intends to utilize the net proceeds from the fresh issue for:

• Repayment or prepayment of certain existing borrowings.
• General corporate purposes.

Sources

• LEAP India Limited Draft Red Herring Prospectus (DRHP)
• LEAP India Limited Red Herring Prospectus (RHP)
• InvestorGain IPO Data
• InvestKraft

Disclaimer

This article is intended for informational and educational purposes only and should not be construed as financial, investment, tax, or legal advice. IPO details, Grey Market Premium (GMP), subscription figures, allotment dates, and listing schedules are subject to change based on regulatory approvals, market conditions, and updates from the company.
Investors are advised to carefully read the Red Herring Prospectus (RHP), verify the latest information through official sources such as SEBI, BSE, NSE, the Registrar, and the Lead Managers, and consult a qualified financial advisor before making any investment decisions. Investments in the securities market are subject to market risks, and past performance is not indicative of future results.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.