Leap India Limited IPO — Subscription & GMP
- Price band
- ₹151 – ₹159
- Lot size
- 94
- Issue size
- ₹1,828.37 Cr
- Bidding
- 07 Aug 2026 → 11 Aug 2026
- Allotment
- 12 Aug 2026
- Listing
- 14 Aug 2026
Listing outcome
Official exchange pricesNo grey market premium was recorded at the close of bidding, so there is nothing to score this listing against.
Schedule
- 07 Aug 2026IPO open date
- 11 Aug 2026IPO close date
- 12 Aug 2026Allotment date
- 13 Aug 2026Funds unblock or debit
- 14 Aug 2026Tentative listing date
Fundamentals
The business, its valuation and returnsLeap India Limited operates on a "share and reuse" asset pooling business model, providing essential logistics equipment to supply chains across India. Core Mechanism: Rather than selling equipment outright, the company retains ownership of assets—specifically wooden pallets, containers, and material handling equipment like forklifts—and rents them to customers on a pay-per-use basis. Target Markets: This model generates recurring rental revenue from clients in the FMCG, food and beverage, e-commerce, and automotive sectors. Asset Lifecycle:* After use, Leap India collects, repairs, and redeploys the assets to other customers, maximizing asset utilization and offering clients a flexible, cost-effective alternative to purchasing their own equipment.
Official source: Basis of Issue Price / ratios filing (NSE) — carries P/E, RoNW and EPS pre and post issue as filed.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from NSE · fetched 76 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers(QIBs) | 3.28 Cr | 42.13 Cr | 12.83× |
| 1(a)Foreign Institutional Investors(FIIs) | — | 30.28 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 3.56 Cr | — |
| 1(c)Mutual funds | — | 61.82 L | — |
| 2Non Institutional Investors | 2.46 Cr | 28.05 Cr | 11.39× |
| 2.1Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 1.64 Cr | 20.95 Cr | 12.76× |
| 2.1(c)Others | — | 93.94 L | — |
| 2.2Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 82.08 L | 7.10 Cr | 8.66× |
| 2.2(a)Corporates | — | 1.93 L | — |
| 2.2(b)Individuals(Other than RIIs) | — | 6.81 Cr | — |
| 3Retail Individual Investors(RIIs) | 5.75 Cr | 6.90 Cr | 1.20× |
| 3(b)Price bids | — | 1.37 Cr | — |
| 4Employees | 82,781 | 7.42 L | 8.96× |
| 4(a)Cut Off | — | 6.15 L | — |
| 4(b)Price Bids | — | 1.27 L | — |
| Total | 11.50 Cr | 77.15 Cr | 6.71× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹151 → ₹159 · peak 96.50 Cr shares bid
Anchor investors
From NSE's anchor allocation filingAnchor investors are institutions allotted shares one working day before public bidding opens, in exchange for a lock-in. Up to 60% of the QIB portion can go to them, which reduces the QIB shares left for everyone else — and their participation is widely read as a confidence signal.
| # | Anchor investor | Shares | % of anchor | Amount |
|---|---|---|---|---|
| 1 | SMALLCAP WORLD FUND, INC | 1.01 Cr | 21.51% | ₹159.99 Cr |
| 2 | MONETARY AUTHORITY OF SINGAPORE | 34.58 L | 7.39% | ₹54.99 Cr |
| 3 | AXIS MUTUAL FUND TRUSTEE LTD A/C AXIS MUTUAL FUND A/C AXIS FLEXI CAP FUND | 47.16 L | 10.08% | ₹74.99 Cr |
| 4 | MOTILAL OSWAL CONSUMPTION FUND | 9.43 L | 2.02% | ₹15.00 Cr |
| 5 | MOTILAL OSWAL LARGE CAP FUND | 22.01 L | 4.71% | ₹35.00 Cr |
| 6 | MORGAN STANLEY INDIA INVESTMENT FUND, INC. | 12.92 L | 2.76% | ₹20.54 Cr |
| 7 | GREATER INDIA PORTFOLIO | 8.85 L | 1.89% | ₹14.07 Cr |
| 8 | MORGAN STANLEY INVESTMENT FUNDS INDIAN EQUITY FUND | 8.05 L | 1.72% | ₹12.79 Cr |
| 9 | GOVERNMENT PENSION FUND GLOBAL | 29.80 L | 6.37% | ₹47.39 Cr |
| 10 | HABROK INDIA | 12.31 L | 2.63% | ₹19.58 Cr |
| 11 | CASSINI PARTNERS, HABROK CAPITAL MANAGEMENT LLP | 7.81 L | 1.67% | ₹12.41 Cr |
| 12 | PRUDENTIAL ASSURANCE COMPANY LIMITED | 20.12 L | 4.30% | ₹31.99 Cr |
| 13 | BANK OF INDIA FLEXI CAP FUND | 16.34 L | 3.49% | ₹25.99 Cr |
| 14 | BANK OF INDIA MULTI CAP FUND | 6.29 L | 1.34% | ₹10.00 Cr |
| 15 | MUTUAL FUND-JM FLEXICAP FUND | 11.32 L | 2.42% | ₹18.00 Cr |
| 16 | MUTUAL FUND-JM SMALL CAP FUND | 3.14 L | 0.67% | ₹5.00 Cr |
| 17 | MUTUAL FUND-JM LARGE & MID CAP FUND | 2.52 L | 0.54% | ₹4.00 Cr |
| 18 | MUTUAL FUND-JM MIDCAP FUND | 3.77 L | 0.81% | ₹6.00 Cr |
| 19 | MUTUAL FUND-JM AGGRESSIVE HYBRID | 1.89 L | 0.40% | ₹3.00 Cr |
| 20 | FUND ITI MULTI CAP FUND | 5.66 L | 1.21% | ₹9.00 Cr |
| 21 | ITI SMALL CAP FUND | 11.32 L | 2.42% | ₹18.00 Cr |
| 22 | ITI FLEXI CAP FUND | 5.66 L | 1.21% | ₹9.00 Cr |
| 23 | LIONTRUST INVESTMENT FUNDS I -LIONTRUST INDIA FUND | 3.15 L | 0.67% | ₹5.00 Cr |
| 24 | AMUNDI FUNDS NEW SILK ROAD | 20.12 L | 4.30% | ₹31.99 Cr |
| 25 | GROWW MUTUAL FUND-GROWW MULTI CAP FUND | 6.28 L | 1.34% | ₹9.99 Cr |
| 26 | GROWW MUTUAL FUND-GROWW SMALL CAP FUND | 3.14 L | 0.67% | ₹5.00 Cr |
| 27 | ADITYA BIRLA SUN LIFE INSURANCE INC COMPANY LIMITED | 31.41 L | 6.72% | ₹49.93 Cr |
| 28 | GOLDMAN SACHS INVESTMENTS (MAURITIUS) I LTD | 3.15 L | 0.67% | ₹5.00 Cr |
| 29 | ALPHAMINE ABSOLUTE RETURN FUND | 3.15 L | 0.67% | ₹5.00 Cr |
| 30 | CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED | 3.15 L | 0.67% | ₹5.00 Cr |
| 31 | SOCIETE GENERALE- | 9.44 L | 2.02% | ₹15.00 Cr |
| 32 | BNP PARIBAS FINANCIAL MARKETS -ODI | 3.15 L | 0.67% | ₹5.00 Cr |
Read from NSE's anchor allocation report · 2 d ago. Published only because the 32 rows reconcile exactly against the 4.68 Cr shares the filing itself declares.
Equity split
Fresh equity vs offer for sale- Fresh equity
- ₹480.00 Cr 19.4%
- Offer for sale
- ₹2.00k Cr 80.7%
- Total issue size
- ₹2.48k Cr
Read from the issue size stated in NSE's filing.
Objects of the issue
Where the fresh issue proceeds go- Repayment/prepayment of outstanding borrowings₹360.00 Cr75.0%
- General corporate purposes₹120.00 Cr25.0%
These add up to ₹480.00 Cr, the whole of the fresh issue. Only the fresh issue has objects — money raised in an offer for sale goes to the selling shareholders and never reaches the company. Compiled from the offer document by Zerodha; the prospectus is the authoritative version.
Allotment status
Basis of allotment 12 Aug 2026You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹151 – ₹159
- Lot size
- 94 shares
- Min. bid quantity
- 94
- Face value
- ₹1.00
- Tick size
- ₹1.00
- Shares offered
- 11.50 Cr
- Issue size
- ₹1828.37 Cr
- Max bid · QIB
- 11.49 Cr
- Max bid · NII
- 8.21 Cr
Timeline & process
- Bidding opens
- 07 Aug 2026
- Bidding closes
- 11 Aug 2026
- Bidding hours
- 10.00 a.m. to 5.00 p.m.
- UPI mandate cutoff
- 11-Aug-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability to participate in IPOs by successfully accepting the mandate.
- Allotment
- 12 Aug 2026
- Listing
- 14 Aug 2026
Intermediaries
- Registrar
- MUFG Intime India Private Limited
- Sponsor bank
- HDFC BANK
- Lead managers
- Avendus Capital Private Limited, JM Financial Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), UBS Securities India Private Limited