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Leap India Ltd IPO

Tech-led NBFC delivering AI/ML driven retail credit across Tier-2 & Tier-3 India.

Listed
Price Band ₹159 per share per share
Lot Size 94 Shares
Min. Investment ₹14946
Issue Size ₹2480 Cr
Face Value ₹1
IPO Open 07 August 2026
IPO Close 11 August 2026
Allotment 12 Aug 2026
Listing 14 Aug 2026
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Live demand

Subscription status for Leap India Ltd IPO

As of 02 May 26, 5:00 PM. Will get Updated in every 30 minutes

QIB 3.42x

Qualified Institutional Buyers

NII 2.15x

Non-Institutional Investors

Retail 1.84x

Retail Individual Investors

Total 2.48x

Across all investor categories

Key dates

IPO schedule for Leap India Ltd

From the day bidding opens to listing — every milestone you need to track.

IPO Open 07 Aug 2026
IPO Close 11 Aug 2026
Allotment 12 Aug 2026
Refund / Unblock 13 Aug 2026
Listing 14 Aug 2026
About the company

Who is Leap India Ltd ?

LEAP India Limited was incorporated as a private limited Company on July 3, 2013, which changed the status to public limited Company on July 31, 2025, issued by the Registrar of Companies, Central Processing Centre. Company offer pallets which are flat carrier structures, that support goods in a stable manner while being handled by forklifts, pallet jacks, or conveyors, containers and material handling equipment (MHEs) to customers for their supply chain needs.

At present, Company is engaged in the business of pooling of assets for providing customised and best in class services to automotive sector and Fast-Moving Consumer Goods (FMCG) industry in the supply chain arena. The Company has added items such as belts, wedges, stillages,

and racking. With the extensive selection, customers no longer need to coordinate with multiple suppliers for their pallets, containers, MHEs, and other supply chain Assets, which streamlines their operations and reduces management complexity

The Company launched the MyLEAP' application in FY 2019. In February 2023, Company acquired Skan Marine Services Private Limited, which got merged with the Company effective from June 21, 2024. Thereafter, Company acquired 100% of the equity capital of CHEP India Private Limited on January 8, 2025. Further, CHEP India was merged into the Company, via Scheme of Arrangement effective from January 2, 2025.

Company is planning to raise money through IPO aggregating of Rs 2400 Crore equity shares of face value of Re 1 each, comprising a fresh issue of Rs 400 Cr equity shares and Rs 2000 Cr. equity shares via offer for sale.

Financial track record

Financials at a glance

Three-year trajectory of revenue, profit and assets — restated as per the RHP.

Revenue PAT Total Assets
FY 2025
FY 2024
FY 2023
Metric (₹ Cr)FY 2025FY 2024FY 2023
Total Income403.74319.00249.44
EBITDA252.86202.89123.82
PAT39.6140.909.37
AUM1,957.831,302.171,046.31

Strengths & Risks

A balanced look at what works in the company's favour and what investors should watch.

Strengths

  • Industry with multi-decadal and rapid growth story.
  • Largest on-demand supply chain asset pooling company, in an industry with high barriers to entry.
  • Trusted supply chain partner equipped to meet evolving customer needs with a focus on quality and sustainability.
  • Highly resilient business model with a blue-chip customer base across high growth sectors.
  • Efficient asset management capabilities led by technology and a focus on customer service leading to supply chain efficiency.
  • Strong performance reflecting rapid growth and an attractive financial profile.
  • Founder-led company supported by an experienced professional management team and reputed investors

Risks

  • The company's business has grown rapidly in recent years, and its may not be able to sustain the company's rate of growth and profitability in the future.
  • A majority of the company's revenue from operations is derived from its pallets (the company's pallets contributed to 62.17%, 67.90% and 72.23% of its revenue from operations in Fiscals 2026, 2025 and 2024, respectively). Any adverse impact on the company's pallet pooling business would adversely affect its business, results of operations and profitability.
  • The company is dependent on its suppliers and service providers (the company's top ten suppliers and service providers contributed 63.27%, 60.00% and 77.00% of its total purchases in Fiscals 2026, 2025 and 2024, respectively) in relation to the company's operations. Any loss of suppliers or interruptions in the timely delivery of supplies and services could have an adverse impact on its business, financial condition, cash flows and results of operations.
  • The company's success depends in large part upon its Key Managerial Personnel ("KMPs"), Senior Management and certain other employees and the company's inability to attract, train and retain such persons could adversely affect its business, financial condition, cash flows and results of operations.
  • Pooling asset loss and inadequate controls and processes on the pooling equipment may result in additional expenses and could negatively affect the company's financial performance.
  • The company typically enter into long-term, recurring contracts with customers and if its customers does not renew their agreements with it, or expand the scope of services, the company provides to them, its business, financial condition, results of operations and cash flows could be adversely impacted. In particular, if the company's relationships with its top customers are impaired or terminated, the company's business, financial condition, results of operations and cash flows could be adversely impacted.
  • The company is reliant on its technology infrastructure in the company's business operations, and any disruption or failures of its technology infrastructure could materially affect the company's growth prospects, reputation, business, results of operations, financial condition and cash flows.
  • The company is exposed to counterparty credit risk. Its inability to collect receivables on time or at all and defaults in payment from the company's customers could reduce its profits and affect the company's cash flows.
  • The company is subject to volatility in the supply and pricing of raw materials such as timber and plastic which are used in the manufacture of its Assets as well as the supply and pricing of Assets, which the company purchases from third parties.
  • A total of 19,889,503 Equity Shares held by Sunu Mathew, one of the company's Promoters, and Matyas Possessiones Private Limited ("Matyas"), a member of its Promoter Group, amounting in aggregate to 4.83% of the pre-Offer equity share capital of the Company on a fully diluted basis, had been pledged in favour of Catalyst Trusteeship Limited in relation to the unlisted nonconvertible debentures bearing face value of Rs. 1,000,000 each, issued by Matyas. Upon re-creation of such pledge to the extent permitted under SEBI ICDR Regulations, any invocation of such pledge could dilute the shareholding of such persons in the Company, which may adversely affect its business and financial condition.

Leap India Ltd IPO — frequently asked questions

The Leap India Ltd IPO opens on 07 August 2026 and closes on 11 August 2026. Bidding is accepted from 10:00 AM on the open date until 5:00 PM on the close date. The IPO is available to all eligible investors including retail individual investors, non-institutional investors, and qualified institutional buyers.
The price band for Leap India Ltd IPO is Rs 159 to Rs 159 per share. The lot size is 94 shares per lot, requiring a minimum investment of Rs 14946 at the upper price band. Investors must apply for a minimum of one lot and can apply for up to 94 lots as per SEBI guidelines.
You can apply for the Leap India Ltd IPO through the Chola Securities app or web platform using UPI or ASBA. Log in to your account, navigate to the IPO section, select Leap India Ltd from the open IPOs list, enter your bid quantity and price within the price band, and submit your application. You need an active demat account, a linked bank account, and a valid PAN to apply. Bidding closes on 11 August 2026 at 5:00 PM.
Allotment for Leap India Ltd IPO is scheduled on 12 Aug 2026. Refunds or unblocking of funds for unsuccessful applicants will be processed on 13 Aug 2026. The shares are expected to list on 14 Aug 2026. You can check your allotment status on the Chola Securities IPO page or through the registrar's website using your PAN.
Chola Securities' research team has reviewed the Leap India Ltd IPO based on the company's financials, business model, valuation, and sector outlook. The recommendation is available on this page. Investors are advised to read the full IPO note along with the company's Red Herring Prospectus before making an investment decision.
Yes, you can revise or withdraw your Leap India Ltd IPO bid before the subscription window closes on 11 August 2026 at 5:00 PM. Revisions can include changing the quantity or price within the allowed price band. To withdraw, cancel your application through the platform before the closing time. Once the subscription period ends, no further changes are permitted.
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