Mumbai-based LEAP India, a supply chain management and asset-pooling solutions provider backed by KKR, has raised ₹743.62 crore from anchor investors ahead of the launch of its ₹2,480-crore initial public offering (IPO), which opens for public subscription on August 7. The anchor book saw participation from 32 institutional investors, reflecting strong interest from domestic and global funds.
The IPO comprises a fresh issue of ₹480 crore and an offer-for-sale (OFS) of ₹2,000 crore by existing shareholders Vertical Holdings II, backed by KKR, and KIA EBT Scheme 3. The public issue will remain open until August 11, with a price band of ₹151-159 per equity share.
Ahead of the issue, the company allotted 4.67 crore equity shares to anchor investors at the upper end of the price band. The anchor book attracted marquee global institutions, including Smallcap World Fund, Monetary Authority of Singapore, Morgan Stanley, Norway’s Government Pension Fund Global, Goldman Sachs, Citigroup, Societe Generale, Cassini Partners, and Amundi. Domestic participation included Axis Mutual Fund, Motilal Oswal Mutual Fund, Bank of India Mutual Fund, JM Financial Mutual Fund, ITI Mutual Fund, Groww Mutual Fund, and Aditya Birla Sun Life Insurance.
The proceeds from the fresh issue will primarily be used to repay or prepay borrowings, strengthening LEAP India’s balance sheet while supporting future business expansion. The company operates a technology-enabled asset-pooling model serving sectors such as e-commerce, FMCG, automotive, retail, and consumer durables, helping customers reduce logistics costs and improve supply chain efficiency.
The IPO comes after a ₹371-crore pre-IPO placement, where KKR-backed Vertical Holdings II sold a 5.67% stake through private agreements. Shares are expected to be listed on the BSE and NSE on August 14, subject to the completion of the allotment process.
IPO Highlights
- IPO Size: ₹2,480 crore
- Fresh Issue: ₹480 crore
- Offer for Sale: ₹2,000 crore
- Anchor Book: ₹743.62 crore raised from 32 investors
- Price Band: ₹151-159 per share
- Issue Opens: August 7
- Issue Closes: August 11
- Expected Listing: August 14 (BSE & NSE)
