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Leap India looks to raise INR 1000 crores through an IPO

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Logistics firm Leap India Pvt Ltd aims to raise nearly ₹1,000 crores through an initial public offering (IPO).

The public offer will comprise a fresh issue of equity shares and an offer for sale, people aware of the matter said requesting anonymity.

The company looks to use the net proceeds from the IPO for capital expenditure.

“There are various private equity players that plan to partially exit through the IPO,” said one of the persons mentioned above. “The company is yet to appoint bankers,” this person said.

Leap India is likely to file a draft red herring prospectus between January and March 2023.

Data from the VCC Edge platform showed the company’s Ebitda was ₹8.68 crore on 31 March 2021. This is against the ₹7.72 crores in the same period of the previous year. Net sales were ₹17.4 crores, up from ₹16.88 crores, while the company’s profit after tax was ₹82 lakh on 31 March 2021, the latest year for which data is available.

An integrated pooling and supply chain solutions company, Leap India incorporated in 2013 provides end-to-end customized pooling solutions for clients.

Their clientele includes auto companies including Bosch, Mahindra, UNO Minda, Exide, and some FMCG companies including Amazon, Nestle, Abbott, Amul, and Pernod Ricard.

The company has 22 manufacturing units and 25 warehouses across India.

The company has a full-fledged array of supply chain and asset pooling solutions catering to 2,500 locations, managing 6 million total assets traversing more than 4,000 consumer touch points in India.

Companies have now once again begun to test the waters about initial share sales steadily after a long dry spell. After the October-December window, many companies are expecting to file their papers with Sebi in the Jan-March quarter.

Until last week, the markets witnessed four IPOs including Healthcare firm Medanta, Fusion Microfinance, DCX Systems, and Bikaji Foods. Cumulatively, these accounted for IPOs worth ₹4681 crores.

Next week a slew of issues is expected to hit the markets. These include Archean Chemicals Industries Ltd, Five Star Business Finance, Kaynes Technology, and Inox Green Energy which will raise over ₹5,020 crores from the markets.

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