• IPO and shareholding: Leap India is raising approximately ₹2,500 crore via an IPO with a price band of ₹151 to ₹159 per share, including a fresh issue of ₹480 crore. Promoters including founder Sunu Mathew and KKR are not selling shares and are subject to a three-year lock-in.
• Debt reduction plan: The company will utilize ₹360 crore from the fresh issue to prepay debt, bringing total debt down from ₹1,000 crore to ₹640 crore and reducing the debt-to-equity ratio to 0.5x.
• EBITDA margin outlook: After a brief dip caused by an acquisition, EBITDA margins have returned to 50%, with management confident of sustaining its historical 45% to 55% EBITDA margin range.
• Market position dominance: Operating on a 100% rental pooling model across 32 sectors and 10,000 locations, Leap India holds an estimated 90% domestic market share and will become the second asset-pooling company to list globally.