GIC Arm, Dymon Asia Among Investors In Leap India's ₹371-Cr Pre-IPO Placement

Supply chain asset pooling firm Leap India has raised around ₹371.3 crore through a pre-IPO placement, with Singapore sovereign wealth fund GIC's subsidiary Gamnat Pte Ltd and hedge fund Dymon Asia Multi-Strategy Investment (Singapore) Pte Ltd among the investors.

The company undertook a private placement of 2.34 crore equity shares at an issue price of ₹159 apiece, according to a public advertisement published on Thursday.

Gamnat was allocated 1.76 crore equity shares at ₹159 apiece, aggregating to ₹279.99 crore. Dymon Asia Multi-Strategy Investment (Singapore) Pte Ltd was allotted 31.45 lakh shares at the same price, amounting to ₹49.99 crore.

Further, Matyas Possessiones Private Ltd, in which promoter Sunu Mathew holds a 99% stake, was allotted 14.47 lakh shares for ₹22.99 crore.

The pre-IPO placement was conducted on August 3-4.

Leap India will launch its ₹2,480-crore initial public offering (IPO) for public subscription on August 7. The issue, with a price band of ₹151-159 per share, will close on August 11.

The proposed IPO comprises a fresh issue of equity shares aggregating up to ₹480 crore and an Offer-for-Sale (OFS) worth up to ₹2,000 crore, taking the overall issue size to ₹2,480 crore.

Proceeds from the fresh issue will be utilised towards repayment or prepayment of certain borrowings of the company, while the remaining amount will be used to meet its working capital requirements.