Leap India collects Rs 744 cr from anchor investors; IPO to open on August 7

Supply chain asset pooling firm LEAP India Ltd successfully raised ₹743.62 crore from a group of institutional investors, setting the stage for its initial public offering (IPO). The company allocated 4.68 crore shares to these anchor investors at a rate of ₹159 per share, totaling ₹743.62 crore. Among the prominent anchor investors were Smallcap World Fund, Monetary Authority of Singapore, Norway's Government Pension Fund Global, Morgan Stanley India Investment Fund, and Goldman Sachs Investments (Mauritius).

Domestic institutional investors such as Axis Mutual Fund, Motilal Oswal Mutual Fund, and Bank of India Mutual Fund also participated in the anchor book. The IPO, priced between ₹151-159 per share, will open for subscription on August 7 and close on August 11. The proposed IPO includes a fresh issue of up to ₹480 crore equity shares and an offer for sale (OFS) of up to ₹2,000 crore, making the overall issue size ₹2,480 crore.

The company plans to use the fresh issue proceeds for repaying and prepaying certain borrowings, while the remainder will be allocated to its working capital needs. Post-IPO, the company's market capitalisation is expected to reach about ₹7,005 crore. LEAP India had previously raised ₹371.3 crore through a pre-IPO placement in August.

The IPO will be listed on BSE and NSE, with JM Financial, Avendus Capital, IIFL Capital Services, and UBS Securities India acting as the book-running lead managers, and MUFG Intime India serving as the registrar.