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Leap India Ltd
MiscellaneousIPO
₹159 - 159
Utilizing a `share and reuse' business model, referred to as pooling, we offer pallets (which are flat carrier structures, that support goods in a stable manner while being handled by forklifts, pallet jacks, or conveyors), containers and material handling equipment (which are equipment used in managing a warehouse) to customers for their supply chain needs. We are the largest on-demand asset pooling provider in India's supply chain management sector (based on the number of pooled assets), according to the F&S Report.
Lot94Min Invest₹14,946Face Value₹1Issue Size₹2,480 CrFresh Issue₹480 CrOffer for Sale₹2,000 CrListing Price₹166CMP₹150
Timeline
7 Aug
Bidding opens
11 Aug
Bidding closes
12 Aug
Allotment
13 Aug
Refund & demat credit
14 Aug
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹2,480 Cr15.60 Cr shares
Fresh Issue₹480 Cr
Offer for Sale₹2,000 Cr
Face Value₹1
Lot Size94 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,9461-13 lots
sNII₹2,09,244from 14 lots
bNII₹10,01,382from 67 lots
Managers & Registrar
Lead ManagerJM Financial Limited
Co-ManagerAvendus Capital Private Limited, IIFL Capital Services Limited, UBS Securities India Private Limited
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrVertical Holdings II Pte. Ltd.PRMTR12,56,99,5591,998.62KIA EBT Scheme 3 (acting through its trustee, Catalyst Trusteeship Limited)PRMTR86,6041.38Total12,57,86,1632,000.00
Shareholding
CategoryPre IPOPost IPOPromoter Group90.04%55.43%Public9.96%44.57%
Objects of the Issue
- Repayment / prepayment, in full or in part, of certain borrowings availed by the Company
- General corporate purposes
Anchor Book
Bid Date06-Aug-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 211 | 253 | 365 | 466 | 730 |
| Operating ProfitCr | 113 | 121 | 203 | 255 | 361 |
| OPM% | 53.4 | 48.0 | 55.6 | 54.7 | 49.5 |
| PBTCr | 26 | 10 | 47 | 52 | 81 |
| PATCr | 26 | 9 | 37 | 38 | 62 |
| EPS | 3 | 1 | 1 | 1 | 2 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 2 | 2 | 3 | 3 | 12 |
| ReservesCr | 468 | 526 | 522 | 606 | 679 |
| BorrowingsCr | 303 | 355 | 572 | 920 | 1,151 |
| Total AssetsCr | 897 | 1,115 | 1,400 | 2,042 | 2,401 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 125 | 153 | 149 | 255 | 268 |
| Investing Cash FlowCr | -121 | -201 | -339 | -1,295 | -360 |
| Financing Cash FlowCr | 15 | 34 | 189 | 1,021 | 72 |
| Net Cash FlowCr | 19 | -14 | -1 | -19 | -20 |
Strengths & Risks
Strengths · as stated in the DRHP
- Industry with multi-decadal and rapid growth story.
- Largest on-demand supply chain asset pooling company, in an industry with high barriers to entry.
- Trusted supply chain partner equipped to meet evolving customer needs with a focus on quality and sustainability.
- Highly resilient business model with a blue-chip customer base across high growth sectors.
- Efficient asset management capabilities led by technology and a focus on customer service leading to supply chain efficiency.
- Strong performance reflecting rapid growth and an attractive financial profile.
Strategies · as stated in the DRHP
- High growth potential on the back of increasing penetration of palletization and pallet pooling.
- Integrate CHEP India and selectively pursue inorganic growth opportunities.
- Expand our product offerings to existing customers.
- International expansion.
Risks · as stated in the DRHP
- The company's business has grown rapidly in recent years, and its may not be able to sustain the company's rate of growth and profitability in the future.
- A majority of the company's revenue from operations is derived from its pallets (the company's pallets contributed to 62.17%, 67.90% and 72.23% of its revenue from operations in Fiscals 2026, 2025 and 2024, respectively). Any adverse impact on the company's pallet pooling business would adversely affect its business, results of operations and profitability.
- The company is dependent on its suppliers and service providers (the company's top ten suppliers and service providers contributed 63.27%, 60.00% and 77.00% of its total purchases in Fiscals 2026, 2025 and 2024, respectively) in relation to the company's operations. Any loss of suppliers or interruptions in the timely delivery of supplies and services could have an adverse impact on its business, financial condition, cash flows and results of operations.
- The company's success depends in large part upon its Key Managerial Personnel ("KMPs"), Senior Management and certain other employees and the company's inability to attract, train and retain such persons could adversely affect its business, financial condition, cash flows and results of operations.
- Pooling asset loss and inadequate controls and processes on the pooling equipment may result in additional expenses and could negatively affect the company's financial performance.
- The company typically enter into long-term, recurring contracts with customers and if its customers does not renew their agreements with it, or expand the scope of services, the company provides to them, its business, financial condition, results of operations and cash flows could be adversely impacted. In particular, if the company's relationships with its top customers are impaired or terminated, the company's business, financial condition, results of operations and cash flows could be adversely impacted.