Logistics solutions firm LEAP India Limited has filed its red herring prospectus (RHP) with SEBI for its Rs 2,480 crore initial public offering (IPO), which is scheduled to open on August 7. The IPO will open for subscription on August 7 and close on August 11, with the anchor book opening on August 6. The company has fixed the price band at Rs 151 to Rs 159 per share. The company receivedapprovalfrom the Securities and Exchange Board of India (SEBI) to launch its IPO in December last year. According to its RHP, LEAP India has increased the fresh issue size to Rs 480 crore from the Rs 400 crore proposed in itsdraft red herring prospectus (DRHP)filed in August last year. The remaining Rs 2,000 crore of the IPO comprises an offer for sale (OFS). The OFS will be led by Vertical Holdings II Pte. Ltd., a promoter entity backed by KKR, which plans to sell shares worth Rs 1,998.6 crore. Another KKR-backed promoter group entity, KIA EBT Scheme 3, will offload shares worth around Rs 13.8 crore. Founded in 2013, EAP India provides pallet pooling, container pooling, and related material-handling solutions across industries. The company counts leading FMCG, pharma, and e-commerce players among its clients. JM Financial, Avendus Capital, IIFL Capital, and UBS Securities are the book-running lead managers to the issue, while MUFG Intime India is the registrar. Of the proceeds from the fresh issue, Rs 360 crore will be used to repay certain borrowings, while the remaining amount will be allocated for general corporate purposes. As of the RHP filing date, KKR-backed Vertical Holdings II Pte. Ltd. is the company's largest shareholder with a 73.78% stake, followed by founder Sunu Mathew, who holds 21.07%. Sixth Sense Ventures, First Bridge Fund, and Madhurima International Pvt. Ltd. own 1.41%, 1.21%, and 1%, respectively. For the fiscal year ended March 2026, Leap India reported 57% year-on-year growth in its operating revenue to Rs 730 crore from Rs 466 crore in FY25. At the same time, its profits also jumped over 70% to Rs 63 crore. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
