KKR-Backed LEAP India Sets ₹159 Upper Band For ₹2,480 Crore IPO

KKR-backed supply chain and asset pooling company LEAP India will open its ₹2,480 crore initial public offering (IPO) for subscription on 7 August, with the price band fixed at ₹151 to ₹159 per share. The anchor book opens on 6 August and the issue closes on 11 August.

The IPO comprises a ₹480 crore fresh issue and a ₹2,000 crore offer for sale (OFS). While the company will receive the proceeds from the fresh issue, the OFS proceeds will go to the selling shareholders. KKR's Vertical Holdings II is selling shares worth ₹1,998.62 crore, accounting for nearly the entire OFS, while KIA EBT Scheme 3 is selling shares worth ₹1.37 crore.

Key IPO Details

• Price band: ₹151 to ₹159 per share

• Lot size: 94 shares and in multiples of 94

• Anchor allocation: 6 August

• Subscription window: 7 to 11 August

• Allotment finalisation: 12 August

• Refunds and demat credit: 13 August

• Listing on BSE and NSE: 14 August

• Employee reservation: Up to ₹1.25 crore

Allocation Breakdown

• Qualified institutional buyers: Up to 50%

• Non-institutional investors: At least 15%

• Retail investors: At least 35%

How Fresh Issue Proceeds Will Be Used

• Debt repayment: ₹360 crore

• General corporate purposes: Remainder

LEAP India had consolidated borrowings of ₹1,023.2 crore as of June 2026. Reducing this debt is the primary purpose of the fresh issue.

About The Company

Mumbai-based LEAP India runs one of India's larger asset pooling platforms, managing 1.47 crore pooled assets across more than 10,100 customer touchpoints. Clients come from FMCG, food and beverages, third-party logistics, e-commerce, quick commerce, automotive and industrial sectors.

When it comes to shareholding, KKR holds 73.78% through Vertical Holdings II, and promoter Sunu Mathew holds 21.07%.

The company first filed its draft red herring prospectus (DRHP) with SEBI in August 2025 for a ₹2,400 crore IPO. It received regulatory approval in December 2025 and has since increased the fresh issue size from the originally planned ₹400 crore to ₹480 crore.

Financial Performance And Other Details

• FY26 net profit: ₹62.3 crore, up 66% YoY from ₹37.6 crore

• FY26 revenue: ₹729.5 crore, up 56.4% from ₹466.5 crore

JM Financial, Avendus Capital, IIFL Capital Services and UBS Securities India are the book-running lead managers.

Also Read - Assetz Files Confidential DRHP With SEBI For ₹1,200 Crore IPO