LEAP India To Convert Into Public Entity, Appoints Independent Director

Supply chain solutions provider Leap India is all set to convert into a public company, as per LEAP India’s MCA filings. 

“…the consent of the company be and is hereby accorded for the conversion of the company from a “private company limited by shares” to a public company limited by shares and consequently the name of the company be and is hereby changed from Leap India Private Limited to Leap India Limited by deletion of the word “Private” from the name of the company,” as per LEAP India’s MCA filings assessed by Inc42. 

The startup has also appointed two independent directors for a period of five years – Sanjiv Gupta and Harinarayan Nair. 

Notably, LEAP India’s IPO reports surfaced in 2022 that the company is raising nearly INR 1,000 Cr through an initial public offering. However, global investment firm KKR acquired a majority stake in LEAP India in 2023.  

Following that, in December 2024, LEAP India made filings with MCA to raise INR 535 Cr in a funding round led by private equity giant KKR through its arm Vertical Holding. Sixth Sense Ventures, FirstBridge India, Madhurima International, among others were also expected to participate in the round. 

Inc42 has reached out to the company to seek comments on its conversion to a public entity. The company declined to comment on the development. 

Earlier this year, LEAP India acquired CHEP India for an undisclosed amount to strengthen its supply chain footprint in the country and expand reach. CHEP India helps businesses reduce disposable packaging and optimise supply chain operations.

As part of the deal, the company gained control of CHEP India’s warehouses, customer base, and its team, reported VCCircle in January. 

Founded in 2013 by Sunu Mathew, LEAP India provides a wide range of supply chain solutions, including equipment pooling, returnable packaging, inventory management and movement, transportation, and repair and maintenance to a diversified customer base across sectors.

India’s supply chain and logistics space is booming on the back of ecommerce, quick commerce and technological advancements. Like other sectors, supply chain industry is also transforming with artificial intelligence (AI), blockchain technology and robotics. 

Earlier this year, IPO-bound logistics platform Shiprocket unveiled Shunya.ai, an agentic AI stack to support micro, small and medium enterprises (MSME) and D2C business by facilitating multilingual commerce. The logistics giant is eyeing an INR 2,500 Cr IPO and has filed the DRHP via confidential route. 

In January, Shiprocket also converted into a public company in the run up to IPO. 

Most recently, Bengaluru-based fintech KreditBee reportedly received approval from its board to convert into a public entity as it readies IPO.