LEAP India IPO Subscribed 42% on Day 2
Logistics tech firm LEAP India's initial public offering saw increased investor interest on its second day, reaching a 42% subscription rate. Investors had bid for 47.7 million shares out of the 114.9 million offered.
Logistics technology company LEAP India's initial public offering (IPO) garnered significant investor interest on its second day, achieving a 42% subscription rate by 14:30 IST. Bids were placed for 47.7 million shares against the total offering of 114.9 million shares.
Qualified institutional buyers (QIBs) continued to lead the subscription, bidding for 20 million shares out of their allocated 32.8 million, marking a 61% subscription of their quota. Non-institutional investors (NIIs) and retail investors had subscribed 34% of their respective quotas.
The public issue comprises a fresh issue of shares worth up to ₹4.8 billion (approximately $50 million) and an offer for sale of up to ₹20 billion (approximately $200 million). At the upper end of the price band, the IPO values the company at ₹70.045 billion (approximately $735 million).
Proceeds from the fresh issue, amounting to approximately ₹3.6 billion, will be used to repay borrowings, with the remainder allocated for general corporate purposes. LEAP India reported a 66% jump in net profit to ₹62.3 billion in FY26 from ₹37.5 billion the previous year, while operating revenue increased 56% to ₹729.5 billion.