KKR-Backed LEAP India Files for $735 Million IPO
Logistics technology firm LEAP India has filed its Draft Red Herring Prospectus (DRHP) for an Initial Public Offering (IPO) aiming to raise up to ₹2,480 crore. The company seeks a valuation of approximately $735 million.
LEAP India, a logistics technology provider backed by KKR, has filed its Draft Red Herring Prospectus (DRHP) for an Initial Public Offering (IPO) aimed at raising up to ₹2,480 crore (approximately $290 million USD). The company is seeking a valuation of around ₹7,004.5 crore ($735 million USD) at the upper end of its proposed price band of ₹151 to ₹159 per share.
The IPO will consist of a fresh issue of shares worth up to ₹480 crore and an Offer For Sale (OFS) of up to ₹2,000 crore. Selling shareholders include Vertical Holdings II Pte. Lt and KIA EBT Scheme 3, both entities associated with the global investment firm KKR. The anchor investor auction is scheduled for August 6, with the subscription period for the public opening on August 7 and closing on August 11.
Proceeds from the fresh issue, totaling approximately ₹360 crore, are earmarked for repaying or prepaying certain borrowings. The remaining funds will be allocated for general corporate purposes. LEAP India reported a significant financial performance in its latest fiscal year, with net profit jumping 66% to ₹62.3 crore and operating revenue increasing by 56.4% to ₹729.5 crore.
Founded in 2013, LEAP India offers supply chain solutions including equipment pooling, returnable packaging, inventory management, transportation, and maintenance services. The company serves a diverse client base across sectors such as Fast-Moving Consumer Goods (FMCG), e-commerce, automotive, and retail. Its customer list includes major brands like Coca-Cola, Marico, Panasonic, Haier, and Daikin. As of the end of the last fiscal year, LEAP India managed 14.7 million assets, supported by over 29 warehouses and service centers.