Pooling reusable pallets and assets, the company helps businesses cut supply-chain costs.
MUMBAI, Aug 11 (The CONNECT) – The initial public offering (IPO) of supply-chain asset pooling company LEAP India Limited was subscribed 8.38 times on the final day of bidding on Tuesday, with strong demand from qualified institutional buyers (QIBs) and non-institutional investors.
The issue received bids for 96,32,58,796 equity shares against 11,49,91,735 shares on offer, according to data available on the stock exchanges. The QIB portion was subscribed 16.84 times, while the non-institutional investor (NII) portion was subscribed 12.64 times. The retail portion was subscribed 1.71 times.
The IPO, which opened on August 7 and closed on August 11, comprised a fresh issue of equity shares aggregating up to Rs 480 crore and an offer-for-sale (OFS) of shares worth Rs 2,000 crore by promoter Vertical Holdings II Pte Ltd and KIA EBT Scheme 3, a member of the promoter group.
The company had fixed the price band at Rs 151-159 per equity share of face value Rs 1. Investors could bid for a minimum of 94 shares and in multiples thereafter.
Of the fresh issue proceeds, Rs 360 crore is proposed to be used for repayment or prepayment, in full or part, of certain borrowings, helping strengthen the company’s balance sheet.
Incorporated in 2013, LEAP India operates an asset-pooling model based on the principle of “share and reuse”. According to the F&S Report, the company is India’s largest on-demand asset pooling provider in the supply-chain management sector by the number of pooled assets.
As of March 31, 2026, LEAP India had 14.70 million assets and a pan-India network of more than 10,100 customer touchpoints. Its pooling model enables customers to access reusable supply-chain assets without having to independently procure, maintain, track and store them.
Pallet pooling is a key component of the company’s operations. Pallets enable the efficient movement and storage of goods across modern supply chains, while the pooling model allows companies to use assets from a shared pool rather than owning them outright. This can reduce procurement, maintenance, warehousing and manpower costs while ensuring availability and standardised quality.
LEAP India’s technology-enabled solutions connect different stages of customers’ value chains, from manufacturing and distribution to retail. Its customer base spans FMCG, food and beverage, third-party logistics, e-commerce and quick commerce, automotive and industrial sectors.
The company had more than 1,000 customers as of March 31, 2026, with a majority of its top 10 customers by FY26 revenue contribution having been associated with it for more than five years.
Technology is another key component of the business. Its in-house MyLEAP platform provides customers with order tracking and management, asset-swapping options, reports and support services. The company has also integrated SAP S/4HANA and Salesforce Management into its systems to facilitate electronic data interchange with customers.
LEAP India has reported strong financial growth. Total income rose to Rs 747.36 crore in FY26 from Rs 371.94 crore in FY24, while revenue from operations increased to Rs 729.53 crore from Rs 364.97 crore. EBITDA rose to Rs 378.83 crore from Rs 209.92 crore, with an EBITDA margin of 50.69%.
Net profit after tax increased to Rs 62.34 crore in FY26 from Rs 37.17 crore in FY24, while the PAT margin stood at 8.34%.
The equity shares are proposed to be listed on the BSE and NSE. JM Financial, Avendus Capital, IIFL Capital Services and UBS Securities India are the book-running lead managers, while MUFG Intime India is the registrar to the issue.
