Now Reading: LEAP India IPO lists Friday with modest GMP of Rs 12
-
01
LEAP India IPO lists Friday with modest GMP of Rs 12
LEAP India shares debut on BSE and NSE on Friday, 14 August, with a grey market premium of Rs 12-12.5 over the issue price of Rs 159, indicating a listing gain of…
The Story in Brief
LEAP India shares debut on BSE and NSE on Friday, 14 August, with a grey market premium of Rs 12-12.5 over the issue price of Rs 159, indicating a listing gain of roughly 7.5-8%. The mainboard IPO closed on 11 August with overall subscription of 8.4-9 times. Retail portion was subscribed 1.7 times.
The Rs 2,480 crore IPO comprised a fresh issue of Rs 480 crore and an OFS of Rs 2,000 crore, with KKR-backed Vertical Holdings II selling shares worth nearly Rs 2,000 crore. The company, India's largest on-demand asset pooling provider, reported FY26 revenue of Rs 729.53 crore and net profit of Rs 62.34 crore. Analysts warn of high valuation at 110x FY26 earnings but cite structural growth prospects in an underpenetrated market.
The Indian Opinion
The 8-10% listing gain expected is tempered by a steep 110x FY26 earnings valuation and the fact that Rs 2,000 crore of the Rs 2,480 crore issue is an OFS by existing shareholders. Retailers chasing IPO pops should watch whether the stock holds above its issue price after the first week of trading, when the selling pressure from institutional investors and profit-takers becomes clear.
Sources (2): livemint.com, livemint.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
