LEAP India, a prominent on-demand asset pooling provider in India's supply chain management sector, has successfully completed a pre-IPO placement, raising approximately ₹371.3 crore. This significant fundraising precedes the opening of its initial public offering (IPO).
The Mumbai-based company privately placed 2,33,51,100 equity shares at an issue price of ₹159 per share, which included a premium of ₹158. The placement was undertaken in consultation with the book running lead managers for the upcoming IPO.
Key Investors in the Pre-IPO Round
The pre-IPO round saw strong participation from several key investors:
- GIC Subsidiary Gamnat: The Singapore-based sovereign wealth fund's subsidiary was allocated 1,76,10,000 equity shares, totaling ₹279.99 crore.
- Dymon Asia Multi-Strategy Investment (Singapore): This investor received 31,44,600 equity shares, amounting to ₹49.99 crore.
- Matyas Possessiones: Backed by promoter Sunu Mathew, Matyas Possessiones was allotted 14,46,500 shares, aggregating to ₹22.99 crore.
Upcoming IPO Details
Leap India's IPO is scheduled to open on Friday, August 7, and will conclude on Tuesday, August 11. The company has set a price band of ₹151-159 per equity share, with a lot size of 94 equity shares and its multiples thereafter. Notably, the pre-IPO placement was executed at the upper end of this price band.
The company aims to raise a total of ₹2,480 crore from its public offering. This includes a fresh share sale of ₹480 crore and an offer-for-sale (OFS) of up to ₹2,000 crore. The issue size remains unchanged despite the secondary sale component.
Listing and Market Expectations
Shares of LEAP India are expected to commence trading on both the BSE and NSE from Friday, August 14. Market observers noted a grey market premium (GMP) of ₹9-10 per share recently, suggesting a potential listing gain of approximately 6 percent for investors.
The book running lead managers for the issue are JM Financial, Avendus Capital, UBS Securities India, and IIFL Capital Services. MUFG Intime India is serving as the registrar for the issue.