LEAP India Files IPO Papers to Raise INR 2,400 Cr The company may also explore a pre-IPO placement of up to INR 80 crore.
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LEAP India Limited, a logistics solutions provider, has filed draft papers with SEBI to raise up to INR 2,400 crore through an initial public offering.
The issue will consist of a fresh share sale worth INR 400 crore and an offer for sale of INR 2,000 crore.
The bulk of the offer for sale will be led by Vertical Holdings II Pte Ltd, a promoter entity backed by global investment firm KKR, which intends to divest shares valued at INR 1,998.6 crore. Another promoter entity, KIA EBT Scheme 3, will sell shares worth around INR 13.8 crore.
Founded by Sunu Mathew and Vertical Holdings II, LEAP India is engaged in pallet pooling, container pooling, and related material-handling services. The company serves a wide client base that includes major fast-moving consumer goods companies, pharmaceutical firms, and e-commerce platforms.
The IPO will be managed by JM Financial, Avendus Capital, IIFL Capital, and UBS Securities as book-running lead managers, while MUFG Intime India will act as registrar.
The company may also explore a pre-IPO placement of up to INR 80 crore. If undertaken, this would proportionally reduce the size of the fresh issue.
Funds raised from the fresh issue will be directed towards business expansion, repayment of debt, and general corporate purposes. Ahead of its public offering, the firm converted into a public limited company in July 2025 and inducted independent directors onto its board.
On the financial front, LEAP India posted a 28 percent increase in revenue to INR 466 crore in FY25 from INR 365 crore in FY24, while profit after tax remained stable at INR 37.5 crore.
