LEAP India Files DRHP For INR 2,400 Cr IPO

Supply chain solutions provider Leap India has filed its DRHP with the Securities and Exchange Board of India (SEBI) to raise up to INR 2,400 Cr via its IPO. 

The public issue will consist of a fresh share sale of up to INR 400 Cr and an offer for sale of up to INR 2,000 Cr. The company’s promoter, KKR-owned Vertical Holdings II, plans to sell shares worth up to INR 1,998.6 Cr, while the promoter group entity, KIA EBT Scheme 3, will offload shares worth about INR 1.38 Cr.

The company said it may explore a pre-IPO placement of up to INR 80 Cr. 

LEAP India plans to use the proceeds from the fresh issue for repayment of borrowings (about INR 300 Cr) and general corporate purposes. 

Founded in 2013, LEAP India claims to be the largest on-demand asset pooling provider in India’s supply chain management sector. It offers pallets, containers and other material handling equipment. 

This helps its clients reduce costs and improve efficiency in logistics and supply chains. Instead of buying and managing their own pallets and containers, companies can lease them from LEAP India and return them when not needed.

The company mainly serves industries such as FMCG, beverages, ecommerce, automotive and retail. LEAP India claims to have about 8.8 Cr pallets and 40,000 containers in active circulation. It supports its operations through a network of more than 20 warehouses and service centres across the country.

Earlier this year, LEAP India acquired CHEP India, which claimed to manage the world’s largest pool of reusable pallets and containers. As a part of the deal, LEAP India gained control over CHEP India’s warehouses, customer base, and its team.

On the financial front, LEAP India saw its operating revenue rise 27.8% to INR 466.4 Cr in FY25 from INR 364.9 Cr in the previous year. Its net profit was almost flat at INR 37.5 Cr as against INR 37.1 Cr in FY24.