Leap India Limited
Promoters SUNU MATHEW · VERTICAL HOLDINGS II PTE. LTD.
Against an issue price of ₹159. Split- and bonus-adjusted official closes — a past move, never a forecast.
Leap India Limited raised ₹2,480 crore through a mainboard initial public offer.
The filing places it in Commercial Services & Supplies and names two promoters: SUNU MATHEW and VERTICAL HOLDINGS II PTE. LTD..
The book was open from 7 August 2026 to 11 August 2026.
The issue was priced at ₹159 a share, from a band of ₹151 to ₹159.
Of the offer, ₹480 crore is a fresh issue of shares — money that goes to the company — and ₹2,000 crore is an offer for sale, which goes to existing shareholders selling down. Valued at the final issue price.
The issuer reported the offer subscribed 9.00 times the shares on offer. That is its own final figure, filed with the exchange after the book closed — not a reading we took while bidding was open.
8.17 crore shares were bid at cut-off — applications that accept whatever price the issue is finally set at rather than naming one.
32 anchor investors were allotted shares before the book opened, worth ₹744 crore.
The shares listed on 14 August 2026.
The last official close on file is ₹146 (21 September 2026), which is 8.2% below the issue price.
It now trades as LEAPIND, and its filed financials are on its company page.
Shares sold in the issue at ₹159 last closed at ₹145.9.
See LEAPIND’s filed financials and price history →Official exchange closes, restated for splits, bonuses and rights issues since listing. A record of past price movement, not a forecast.
Share counts converted at ₹159, the final issue price.
- Designated exchange
- NSE
- Discount
- None offered
- Registrar
- MUFG Intime India Private Limited
- Lead managers
- JM Financial Limited
- Avendus Capital Private Limited
- IIFL Capital Services Limited
- UBS Securities India Private Limited
- Bidding opens7 Aug 2026
- Bidding closes11 Aug 2026
- Basis of allotmentnot published
Not published in the exchange feeds we ingest — we do not estimate it.
- Listing14 Aug 2026
This is the issuer’s own final figure, filed with the exchange once bidding had closed — not a reading we took while the book was open. The exchange publishes only a running cumulative figure and no history, so for an issue nobody polled live this filing is the only account of the book that exists. It covers the whole offer and carries no breakdown by category and no timestamp.
A snapshot WE took while the book was still open, not the final figure. It is earlier than the filed number above and can only be lower — never quote the two as one measurement. Taken 12 Aug 2026, 7:00 pm IST.
- Anchor investors30.0%4,67,68,854 sh
- Qualified institutional buyers20.0%3,11,97,556 sh
- Non-institutional investors15.0%2,33,89,924 sh
- Retail individual investors35.0%5,45,76,488 sh
- Reserved portion0.0%42,018 sh
No part of the offer was set aside for market maker or other.
The portion of the offer set aside for each category before bidding opened, as the issuer filed it. The anchor allocation is filed as its own line rather than inside the institutional one, so these add up to the whole offer. Shares as filed; the percentages are computed against the offer's own share count.
Every bid names a price, or accepts whatever the final price turns out to be. This shows how many shares have been bid for at each price or above it — so the bar at the top of the band counts only the bids willing to pay it.
The columns are near-identical because they are: demand falls only 0.06% between ₹151 and ₹159, so almost every bid was willing to pay the top of the band. The axis starts at zero — the flatness is the finding, not a missing scale.
These accept whatever price the issue is finally set at, so they have no place on the price axis and are not in the chart.
How much of the demand falls away between the bottom and the top of the band.
Cumulative shares bid at or above each price in the band, from the exchange's own demand schedule. Bids placed at cut-off carry no price and are counted separately.
Anchor investors are institutions allotted shares one working day before public bidding opens, at a price fixed then. Their shares are locked in for a set period. At least 8 of them are domestic mutual funds; we could not classify 20 of the names either way.
| SMALLCAP WORLD FUND, INC | ₹160 cr |
| AXIS MUTUAL FUND TRUSTEE LTD A/C AXIS MUTUAL FUND A/C AXIS FLEXI CAP FUNDmutual fund | ₹75 cr |
| MONETARY AUTHORITY OF SINGAPORE | ₹55 cr |
| ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED | ₹49.9 cr |
| GOVERNMENT PENSION FUND GLOBAL | ₹47.4 cr |
| MOTILAL OSWAL LARGE CAP FUND | ₹35 cr |
| AMUNDI FUNDS NEW SILK ROAD | ₹32 cr |
| THE PRUDENTIAL ASSURANCE COMPANY LIMITED | ₹32 cr |
| BANK OF INDIA FLEXI CAP FUND | ₹26 cr |
| MORGAN STANLEY INDIA INVESTMENT FUND, INC. | ₹20.5 cr |
| HABROK INDIA MASTER LP | ₹19.6 cr |
| ITI SMALL CAP FUND | ₹18 cr |
| JM FINANCIAL MUTUAL FUND - JM FLEXICAP FUNDmutual fund | ₹18 cr |
| SOCIETE GENERALE - ODI | ₹15 cr |
| MOTILAL OSWAL CONSUMPTION FUND | ₹15 cr |
| GREATER INDIA PORTFOLIO | ₹14.1 cr |
| MORGAN STANLEY INVESTMENT FUNDS INDIAN EQUITY FUND | ₹12.8 cr |
| CASSINI PARTNERS, L.P. MANAGED BY HABROK CAPITAL MANAGEMENT LLP | ₹12.4 cr |
| BANK OF INDIA MULTI CAP FUND | ₹10 cr |
| GROWW MUTUAL FUND - GROWW MULTI CAP FUNDmutual fund | ₹10 cr |
| ITI FLEXI CAP FUND | ₹9 cr |
| ITI MULTI CAP FUND | ₹9 cr |
| JM FINANCIAL MUTUAL FUND - JM MIDCAP FUNDmutual fund | ₹6 cr |
| ALPHAMINE ABSOLUTE RETURN FUND | ₹5 cr |
| BNP PARIBAS FINANCIAL MARKETS - ODI | ₹5 cr |
| CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED | ₹5 cr |
| GOLDMAN SACHS INVESTMENTS (MAURITIUS) I LTD | ₹5 cr |
| LIONTRUST INVESTMENT FUNDS I - LIONTRUST INDIA FUND | ₹5 cr |
| JM FINANCIAL MUTUAL FUND - JM SMALL CAP FUNDmutual fund | ₹5 cr |
| GROWW MUTUAL FUND - GROWW SMALL CAP FUNDmutual fund | ₹5 cr |
| JM FINANCIAL MUTUAL FUND - JM LARGE & MID CAP FUNDmutual fund | ₹4 cr |
| JM FINANCIAL MUTUAL FUND - JM AGGRESSIVE HYBRID FUNDmutual fund | ₹3 cr |
From the issuer’s anchor allotment filing. A record of who was allotted what — not a recommendation.
- Anchor investors — first trancheSEBI ICDR 2018 Reg. 32(5)(b) — 50% of the anchor allocation, 30 days from allotment13 Sept 202650% of this tranche
- Anchor investors — second trancheSEBI ICDR 2018 Reg. 32(5)(a) — the remaining 50% of the anchor allocation, 90 days from allotment12 Nov 202650% of this tranche
- All other pre-issue capitalSEBI ICDR 2018 Reg. 17 — all other pre-issue capital, 6 months from allotment14 Feb 2027whole tranche releases on this date
- Promoters' minimum contributionSEBI ICDR 2018 Reg. 16(1)(a) — promoters' minimum contribution, 18 months from allotment14 Feb 2028whole tranche releases on this date
Computed from the SEBI ICDR 2018 lock-in rules, not disclosed by the issuer or the exchange. The regulation counts from the date of allotment, which no feed we ingest publishes, so these are counted from the listing date and fall at most two to three business days later than the true expiry.
Every offer document must set out the reasoning behind its own price: what the company earned in the years before it came to market, and what multiple of those earnings it is asking for. This is that chapter — the issuer’s argument for its price, not our assessment of it.
| Year | Basic | Diluted | Weight |
|---|---|---|---|
| FY2024 | ₹1.04 | ₹1.03 | 1 |
| FY2025 | ₹1.00 | ₹0.99 | 2 |
| FY2026 | ₹1.52 | ₹1.50 | 3 |
Figures as printed in the offer document's "Basis for Offer Price" chapter. A record of the case the issuer made for its own price, not our valuation of it.
Restated figures the issuer is required to publish in its offer document, covering the years before it came to market.
| Line | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Net cash generated from financing(₹ million) | 1,889.16 | 10,213.62 | 715.96 |
| Net cash used in investing activities(₹ million) | -3,387.39 | -12,948.83 | -3,601.16 |
| Net cash generated from operating(₹ million) | 1,491.06 | 2,550.2 | 2,682.66 |
| EBITDA(₹ million) | 2,099.18 | 2,737.97 | 3,788.29 |
| Basic Earnings per equity share (in ₹)(₹ per share) | 1.04 | 1 | 1.52 |
| Diluted Earnings per equity share (in ₹)(₹ per share) | 1.03 | 0.99 | 1.5 |
| Equity Share Capital(₹ million) | 27.28 | 30.18 | 120.73 |
| Net Asset Value (NAV) per share (in(₹ per share) | 20.03 | 24.35 | 24.52 |
| Net Worth(₹ million) | 7,141.78 | 9,173.48 | 10,063.32 |
| Profit after tax for the year(₹ million) | 371.74 | 375.58 | 623.41 |
| Revenue from operations(₹ million) | 3,649.71 | 4,664.72 | 7,295.33 |
| Return on Equity(%)(%) | 5.79 | 4.6 | 6.48 |
| Total borrowings(₹ million) | 5,130.73 | 8,016.58 | 10,177.25 |
Figures as filed by the issuer in its offer document.
We have not extracted this section from the offer document for this issue yet. It is read from the abridged prospectus, and several offer documents are served as .zip archives or as scanned pages with no text layer.
The peer table is printed in the offer document's "Basis for Offer Price" chapter; we have not extracted it for this issue yet.
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Avendus Capital Private Limited 2024 – 2026 | 7 2 measurable | +1.1% | 1 of 1 | — | 0 of 2 |
IIFL Capital Services Limited 2024 – 2026 | 29 12 measurable | +17.3% | 1 of 5 | — | 0 of 2 |
JM Financial Limited 2021 – 2026 | 69 16 measurable | +13.3% | 5 of 10 | 0 of 2 | 0 of 3 |
UBS Securities India Private Limited 2025 – 2026 | 5 2 measurable | +2.1% | 1 of 2 | — | — |
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Mufg Intime India Private Limited 2025 – 2026 | 77 18 measurable | +17.2% | 1 of 6 | 1 of 1 | 1 of 4 |
A count of what happened to the other issues each firm was named on, computed from exchange closes. Not a rating, not a ranking, and not a view on the firm.
- Prospectus· PDF · exchange archive12 Aug 2026NO_TABLE
- Red herring prospectus (RHP)· ZIP · exchange archive1 Aug 2026NO_TABLE
- Red herring prospectus (RHP)· ZIP · exchange archiveNO_TABLE
- Draft red herring prospectus (DRHP)· PDF · exchange archive30 Aug 2025
- Abridged prospectus· PDF · exchange archive3 Aug 2026
- Anchor investor allotment· ZIP · exchange archive
- Financial ratios advertisement· ZIP · exchange archive
- Listing filing (XBRL)· XML · exchange archive
- In-principle approval (XBRL)· XML · exchange archive
Filed with SEBI and the exchanges by the issuer. These are the source for every figure on this page.
Compiled from NSE and SEBI offer documents and exchange feeds. A description of the issue and of the bids received — not investment advice, and not a view on whether to apply. No grey-market premium, no allotment lookup and no listing-gain estimate is published here.