LEAP India IPO Fully Subscribed Amidst Varied Investor Interest
Logistics tech firm LEAP India's initial public offering has been fully subscribed on its final day of bidding. The overall subscription rate reached 1.71 times the shares on offer.
LEAP India, a logistics technology company, has successfully completed its initial public offering (IPO) with the issue being subscribed 1.71 times by the end of the bidding period. The offering saw strong participation from institutional investors, while retail investor interest remained slightly below their allocated quota.
Non-institutional investors (NIIs) showed significant interest, oversubscribing their portion by 3.33 times. Qualified institutional buyers (QIBs) also demonstrated robust demand, with their quota being subscribed 1.90 times. Foreign institutional investors were notably active within the QIB category. Retail investors subscribed to 90% of their allocated shares.
Employees of LEAP India showed the highest relative interest, oversubscribing their quota by 6.03 times. The company is expected to list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on August 14.
The IPO comprised a fresh issue of shares worth up to ₹480 crore and an offer for sale of up to ₹2,000 crore. At the upper price band, the IPO values LEAP India at approximately ₹7,004.5 crore (around $735 million). Funds raised from the fresh issue, amounting to ₹360 crore, will be used for debt repayment, with the remainder allocated for general corporate purposes.
LEAP India provides supply chain solutions, including equipment pooling, returnable packaging, and transportation services. The company serves over 1,000 customers across various sectors such as FMCG, food and beverages, e-commerce, automotive, and retail.