LEAP India IPO: Shares Debut Down 9% Below Issue Price

LEAP India Ltd, a supply chain asset pooling firm, debuted on Friday with its shares closing nearly 9% lower than the issue price of Rs 159, thereby losing all initial gains made during its listing.

Listing Day Performance Snapshot

• Issue Price: Rs 159
• BSE Opening Price: Rs 166 (a 4.40% premium to issue price)
• BSE Closing Price: Rs 145.10 (an 8.74% decline from issue price)
• NSE Opening Price: Rs 165.90 (a 4.33% premium to issue price)
• NSE Closing Price: Rs 144.93 (an 8.84% decline from issue price)

The stock initially commenced trading on the BSE at Rs 166, marking a 4.40% premium over its issue price. This positive opening, however, proved to be short-lived as the momentum could not be sustained throughout the trading session.

During Friday’s trading, LEAP India’s shares on the BSE declined further to an intra-day low of Rs 143.10, representing a 10% decrease from the original issue price. This indicated a significant erosion of value for investors who bought into the IPO.

A similar trajectory was observed on the National Stock Exchange. The stock listed at Rs 165.90, reflecting a 4.33% premium, but ultimately closed at Rs 144.93. Both exchanges mirrored the trend of an initial premium followed by a substantial closing discount.

The company’s performance on its debut day highlights a challenging market reception, as its shares settled significantly below the Rs 159 issue price on both major exchanges, ending the session with notable losses for investors.