One of the growing Supply chain solutions providers, LEAP India, submitted its Draft Red Herring Prospectus to the market regulator SEBI to raise ₹2,400 crore via an IPO.
This IPO consists of a fresh issue of ₹400 crore and an offer for sale (OFS) up to ₹2,000 crore, with a face value of ₹1 each.
KKR-owned Vertical Holdings II will be selling shares of ₹1,998.6 crore, and promoter KIA EBT Scheme 3 will sell around ₹1.38 crore in the Offer-for-Sale.
The company is also planning to raise ₹80 crore via a pre-IPO placement. If the company successfully plans to do so, the amount of ₹80 crore will be deducted from the fresh issue.
The proceeds of ₹300 crore from the fresh issue will be utilized to handle the loan repayment, while the remaining funds of ₹100 crore will be used for the company’s general corporate purposes.
Incorporated in 2013, Lead India focuses on a “share and reuse” model, leasing pallets, containers, and handling equipment to sectors like FMCG, beverages, ecommerce, automotive, retail, and logistics. Across India, so far company has managed 13.57 million assets, with 30 fulfilment centres, 20 warehouses, and 7,700+ customer touchpoints.
Panasonic Life Solutions, Marico, Hindustan Coca-Cola, Haier, Daikin, Daimler India, and JM Baxi are some of the major clients of LEAP India. In early 2025, the company decided to expand by acquiring CHEP India, which is part of Brambles, a global leader in reusable pallets and containers.
In FY25, the company generated revenue of ₹466.4 crore from ₹364.9 crore in FY24, showcasing a rise of 27.8%. If compared to FY23, the total income doubled from ₹258 crore to ₹485 crore. Also, the net profit jumped over four times from ₹9 crore to ₹37.5 crore, respectively.
LEAP India IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
LEAP India Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2023 | ₹258.17 | ₹248.34 | ₹09.01 |
| 2024 | ₹371.94 | ₹325.24 | ₹37.17 |
| 2025 | ₹485.03 | ₹432.97 | ₹37.56 |
LEAP India IPO Valuation – FY2025
LEAP India IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹1.00 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 4.09% |
| Net Asset Value (NAV): | ₹24.35 |
Peer Group Comparison
- There are no listed comparable companies in India or globally in terms of their business and scale of operations.
Objects of the Issue
- Repayment / prepayment, in full or in part, of certain borrowings availed of by our Company; and
- General corporate purposes
IPO Lead Managers aka Merchant Bankers
- JM Financial Limited
- Avendus Capital Private Limited
- IIFL Capital Services Limited
- UBS Securities India Private Limited
