LEAP India Files Draft Papers with Sebi; Eyes Rs 2,400-Cr via IPO

Supply chain solutions provider LEAP India has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,400 crore through an initial public offering (IPO).

The offer is a mix of fresh issue of shares worth Rs 400 crore and an offer-for-sale (OFS) of shares valued at Rs 2,000 crore by promoters, according to the draft red herring prospectus (DRHP) filed on Friday.

Vertical Holdings II Pte. Ltd and KIA EBT Scheme 3 are offloading shares in the OFS.

The Mumbai-based company plans to utilise proceeds from fresh issuance worth Rs 300 crore for payment of debt and the remainder will be deployed for working capital requirements.

Incorporated in 2013, LEAP India is a leading player in the on-demand asset pooling provider in the supply chain sector.

The company has 13.57 million assets and has a pan-India network of 7,747 customer touchpoints and 30 fulfilment centres (which are centres to facilitate the storage, maintenance, repair, and rapid deployment of its assets to its customers) as of May 31, 2025.

On the financial front, the company posted total income of Rs 485 crore and a net profit of Rs 37.5 crore during Fiscal 2025.

The company has over 900 customers as of March 2025, including Panasonic Life Solutions India, Marico, Haier Appliances, Daikin, Daimler India Commercial Vehicles and JM Baxi.

IIFL Capital Services, JM Financial, UBS Securities India and Avendus Capital are the book-running lead managers of the public issue.