LEAP India IPO: KKR-backed firm to raise Rs 2,480 Cr from Aug 7-11

LEAP India, a supply chain and asset pooling firm backed by KKR, is set to launch its Initial Public Offering (IPO) valued at Rs 2,480 crore (approximately USD 260 million). The subscription window for this public offering will be active from August 7 to August 11.

Key IPO Details

• Total IPO Value: Rs 2,480 crore (USD 260 million)
• Price Band: Rs 151 to Rs 159 per equity share
• Company Valuation (upper end): Around Rs 7,004.5 crore (USD 735 million)
• Fresh Issue Component: Rs 480 crore (increased from Rs 400 crore)
• Offer for Sale (OFS) Component: Rs 2,000 crore

The offer for sale includes shares from KKR-linked entities. Vertical Holdings II Pte Ltd will offload shares worth Rs 1,998.6 crore, while KIA EBT Scheme 3 is selling shares valued at Rs 1.4 crore.

Shareholding Structure

• Vertical Holdings (managed by KKR): 73.78 percent stake
• Founder Sunu Mathew: 21.07 percent stake
• Other Investors: Sixth Sense India Opportunities, First Bridge India Growth Fund

Founded in Mumbai in 2013, LEAP India provides sustainable supply chain and asset-pooling solutions. Their services cover equipment pooling, returnable packaging, inventory management, transportation, and repair and maintenance.

Utilisation of Proceeds & Reservations

• Funds for Debt Repayment: Rs 360 crore from the fresh issue
• Remaining Funds: Designated for general corporate purposes
• Qualified Institutional Buyers (QIBs): 50 percent of the net offer
• Retail Investors: 35 percent of the net offer
• Non-Institutional Investors: 15 percent of the net offer

The company has reported strong financial performance, with revenue increasing by 54 percent and profit after tax rising by 66 percent between the financial years ending March 2025 and March 2026. This growth underscores LEAP India’s momentum ahead of its public listing.