# LEAP India Limited: IPO analysis > LEAP India Limited (CIN U74900MH2013PLC245166) has filed a Prospectus with SEBI for an IPO comprising an offer for sale of 12.58 Cr shares, priced at ₹151.00 to ₹159.00 per share. In FY26 it reported revenue of ₹730 Cr (+56.4% on FY25) and a net profit of ₹62 Cr. Promoters hold 89.1% before the IPO. Our fact-check of its claims found no medium or high concerns across 40 claims checked. - Page: https://ipo.innerkore.com/company/U74900MH2013PLC245166/leap-india-limited/ - CIN: U74900MH2013PLC245166 - Last updated: 12 Aug 2026 ## Key facts - **Company:** LEAP India Limited - **CIN:** U74900MH2013PLC245166 - **Filing stage:** Prospectus - **Latest SEBI filing:** 12 Aug 2026 - **Offer for sale:** 12,57,86,162 shares - **Price band:** ₹151.00 to ₹159.00 per share - **Final offer price:** ₹159.00 per share - **Lot size:** 94 shares - **Bidding opens:** 7 Aug 2026 - **Bidding closes:** 11 Aug 2026 - **Listing on:** BSE, NSE - **Revenue FY26:** ₹730 Cr - **Revenue growth:** +56.4% - **Net profit FY26:** ₹62 Cr - **Revenue CAGR FY24 to FY26:** 41.4% - **Promoter holding (pre-IPO):** 89.1% - **Lead managers:** JM Financial Limited, Avendus Capital Private Limited, IIFL Capital Services Limited, IIFL Securities Limited, UBS Securities India Private Limited - **Registrar:** MUFG Intime India Private Limited - **Fact-check flags:** 0 high, 0 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Valuation** (concern): 104.7x P/E. At the top of the band, on FY26 profit; 6.5x book value. - **Growth** (looks fine): 41.4% a year. Sales FY24 to FY26; latest year +56.4%. - **Profitability** (look closer): 8.6% net margin. FY26; operating margin slipping. - **Debt** (look closer): 1.01x equity. ₹1,018 crore borrowed at the end of FY26. - **Profit into cash** (looks fine): 430% of profit. Operations brought in ₹268 crore against ₹62.3 crore of profit in FY26. - **One-off income** (look closer): 22% of profit. Other and one-off income is 22% of pre-tax profit. - **Where the money goes** (concern): All for sale. Entirely an offer for sale: the company receives nothing. - **Red flags** (looks fine): None serious. 40 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 365 | 466 | 730 | | Sales growth | – | 27.8% | 56.4% | | Operating profit | 203 | 255 | 361 | | Operating margin | 55.6% | 54.7% | 49.5% | | Net profit | 37 | 38 | 62 | | Net margin | 10.2% | 8.1% | 8.6% | | Net worth | 714 | 917 | 1,006 | | Borrowings | 513 | 802 | 1,018 | | Return on equity | 5.2% | 4.1% | 6.2% | ## Use of proceeds (fresh issue) - Repayment / prepayment, in full or in part, of certain borrowings availed by our Company: ₹360 crore - General corporate purposes 982.86 (2) Net Proceeds: ₹458 crore ## Fact-checked claims - **NONE** (PromoterBackground): Chetan Naik resigned as a non-executive director due to organizational restructuring on September 14, 2023.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Chetan Naik resigned as a non-executive director on September 14, 2023. - **NONE** (PromoterBackground): Shyamsundar Sundaresan Gurumoorthy resigned as a non-executive director due to organizational restructuring on September 14, 2023.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Shyamsundar Sundaresan Gurumoorthy resigned as a non-executive director on September 14, 2023. - **NONE** (PromoterBackground): Krishna Iyer Mani resigned as a non-executive director due to organizational restructuring on September 14, 2023.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Krishna Iyer Mani resigned as a non-executive director on September 14, 2023. - **NONE** (PromoterBackground): Ami Vinoo Momaya was appointed as an additional director – non-executive on September 14, 2023.. No current web search results were found to corroborate, contradict, or provide any information regarding the appointment of Ami Vinoo Momaya as an additional director – non-executive on September 14, 2023. - **NONE** (PromoterBackground): Sunu Mathew has been associated with the Company since February 14, 2014.. No current web search results were found to corroborate, contradict, or provide any information regarding Sunu Mathew's association with LEAP India Limited since February 14, 2014. - **NONE** (SubsidiaryPerformance): The registered office changed from Office No. 6, Ground Floor, Nirmal Industrial Estate, New Link Road, Malad West, Mumbai 400 064, Maharashtra, India to Office #302, 3rd Floor, Ruby Crescent Business Boulevard, Ashok Nagar, Kandivali East, Mumbai 400101, Maharashtra, India on October 7, 2015.. No web search results were found to corroborate, contradict, update, or provide any new information regarding the claimed change in the registered office address for LEAP India Limited. - **NONE** (SubsidiaryPerformance): The authorized share capital was increased from ₹18,94,60,000 to ₹20,73,22,000 on December 5, 2016.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the authorized share capital increase for LEAP India Limited. - **NONE** (SubsidiaryPerformance): India is considered the fastest growing economy in the world, with its GDP accelerating at 10.6% between CY 2025–2030p, driven by a booming digital economy and a demographic dividend.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about India's GDP growth rate between CY 2025–2030. - **NONE** (SubsidiaryPerformance): India is expected to reach USD 6.90 trillion in GDP by FY 2031, with a projected CAGR of 10.6% between FY26-FY31p, which is the highest among major economies.. No current web search results were found to corroborate, contradict, update, or provide any information regarding India's projected GDP growth to USD 6.90 trillion by FY 2031 or the projected CAGR of 10.6% between FY26-FY31p. - **NONE** (PromoterBackground): The Promoter Group includes entities such as Plenova Supply Chain Private Limited, Packaging Holding LLP, and KKR Asia Pacific Infrastructure Holdings II Pte. Ltd.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the entities mentioned in the claim from the Draft Red Herring Prospectus (DRHP) of LEAP India Limited. - **NONE** (PromoterBackground): Sanjiv Gupta previously served as chief executive officer for Spice Xpress and Logistics Private Limited.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Sanjiv Gupta previously served as the CEO for Spice Xpress and Logistics Private Limited. - **NONE** (SubsidiaryPerformance): A transitional trade mark license agreement was entered into between CHEP Technology Pty Limited (“CHEP AUS”) and erstwhile CHEP India Private Limited (together, the “TMLA Parties”) to set out terms for the use of intellectual property.. No web search results were found for the claim regarding a transitional trademark license agreement between CHEP Technology Pty Limited and CHEP India Private Limited. ## Common questions ### How big is the LEAP India Limited IPO? LEAP India Limited's IPO comprises an offer for sale of 12.58 Cr shares, according to its Prospectus. The price band was ₹151.00 to ₹159.00 per share and the final offer price was ₹159.00 per share. ### What are LEAP India Limited's revenue and profit? LEAP India Limited reported revenue from operations of ₹730 Cr in FY26, +56.4% versus FY25. Net profit was ₹62 Cr (FY25: ₹38 Cr). Revenue grew at a compound rate of 41.4% a year from FY24 to FY26. Figures are read from the Prospectus, as printed there. ### How much do promoters own in LEAP India Limited? Promoters hold 89.1% of LEAP India Limited before the IPO. ### How will LEAP India Limited use the IPO money? The fresh-issue proceeds are earmarked for: Repayment / prepayment, in full or in part, of certain borrowings availed by our Company (₹360 Cr); General corporate purposes 982.86 (2) Net Proceeds (₹458 Cr). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in LEAP India Limited's Prospectus? We fact-checked 40 claims from the filing against the open web: 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does LEAP India Limited do? The story behind the LEAP India Limited IPO is shrouded in silence regarding a key figure. Despite speculation, there is absolutely no current web search result to corroborate or contradict the claim that Chetan Naik resigned as a non-executive director on September 14, 2023. ### Who manages the LEAP India Limited IPO? Book running lead managers: JM Financial Limited, Avendus Capital Private Limited, IIFL Capital Services Limited, IIFL Securities Limited, UBS Securities India Private Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original LEAP India Limited IPO documents? All 1 filing for LEAP India Limited (Prospectus) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [LEAP India Limited - Prospectus](https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1786535192735.pdf) (Prospectus, filed 12 Aug 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.