The LEAP India IPO officially entered its final stretch as publicly reported on 2026-08-03, with the Mumbai-based logistics and supply chain asset pooling company filing its Red Herring Prospectus (RHP) for a ₹2,480 crore public issue. LEAP India is backed by global investment firm KKR, which holds a majority stake through its promoter entity Vertical Holdings II Pte. Ltd. The IPO is set to open for public subscription on August 7, 2026, and close on August 11, 2026, with listing targeted on BSE and NSE.
Quick Highlights
- Founder & Promoter: Sunu Mathew (founder; co-promoter alongside Vertical Holdings II Pte. Ltd.)
- Investor Background: KKR acquired a majority stake in LEAP India in 2023 as part of its Asia infrastructure investment strategy; KKR-managed Vertical Holdings II holds a 73.78% pre-issue stake
- Other Investors: Sixth Sense India Opportunities and First Bridge India Growth Fund are among the company’s other investors
- Valuation: ₹7,004.5 crore (approximately $735 million) at the upper end of the price band
- Headquarters: Mumbai, Maharashtra
- Announcement Date: August 3, 2026
Funding Breakdown
Use of Funds
The ₹2,480 crore issue consists of a fresh issue of shares worth up to ₹480 crore and an offer for sale (OFS) of up to ₹2,000 crore. From the fresh issue proceeds, ₹360 crore is earmarked for the repayment or prepayment, in full or in part, of certain existing company borrowings — as publicly reported, LEAP India’s outstanding consolidated borrowings stood at ₹1,023.2 crore as of June 2026. The remaining fresh issue proceeds will be deployed for general corporate purposes.
Funding Timeline
Under the OFS component, promoter entities Vertical Holdings II Pte. Ltd. and KIA EBT Scheme 3 — both related to KKR — will offload shares worth approximately ₹1,998.62 crore and ₹1.4 crore respectively. The price band has been set at ₹151 to ₹159 per equity share, with a face value of ₹1 per share and a lot size of 94 shares. The anchor investor round opened on August 6, 2026, ahead of the public subscription window. Shares are tentatively scheduled to list on August 14, 2026.
Expansion Plans
As publicly reported, LEAP India currently operates an asset pooling platform managing 1.47 crore assets across more than 10,100 customer touchpoints in India. The company serves a broad range of sectors including FMCG, food and beverages, third-party logistics, e-commerce, quick commerce, automotive, and industrials. Its technology stack includes RFID, IoT, SAP S/4HANA, Salesforce integration, and its proprietary MyLEAP platform for real-time asset tracking and inventory management — positioning the company to scale its tech-enabled service offering post-listing.
Significance
LEAP India’s IPO marks a significant liquidity event for KKR, which acquired its majority stake in 2023 as part of its Asia infrastructure strategy and will now partially exit through the OFS component. For the logistics sector, this listing brings India’s largest on-demand supply chain asset pooling provider — operating a circular “share and reuse” model — to public markets for the first time, offering investors direct exposure to the country’s fast-growing logistics infrastructure. The IPO also highlights the rising investor appetite for asset-light, technology-enabled supply chain platforms in India. At a target valuation of approximately ₹7,004.5 crore, the listing is poised to be a meaningful benchmark for the Indian logistics-tech space in 2026.
These details have been verified against multiple publicly available reports as of 2026-08-03.
Stay updated with the latest startup funding news on The Courtroom.
Disclaimer: This report is compiled from publicly available sources and is for informational purposes only; funding figures are as publicly reported and may be subject to change.
