Now Reading: LEAP India IPO Opens Today at Rs 151-159
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LEAP India IPO Opens Today at Rs 151-159
The Rs 2,480 crore IPO of LEAP India opened today at a price band of Rs 151-159. The issue includes a fresh issue of Rs 480 crore and an offer-for-sale of Rs…
The Story in Brief
The Rs 2,480 crore IPO of LEAP India opened today at a price band of Rs 151-159. The issue includes a fresh issue of Rs 480 crore and an offer-for-sale of Rs 2,000 crore. The company raised Rs 743.6 crore from 32 anchor investors, including the Monetary Authority of Singapore, Goldman Sachs, and domestic mutual funds.
LEAP India, backed by KKR, is the largest on-demand asset pooling provider in India. It serves over 1,000 clients and reported revenue of Rs 747.36 crore in FY26, up 54%. Anand Rathi has assigned a 'Subscribe, Long Term' rating, citing aggressive pricing and a low ROE of 6.19%.
The Indian Opinion
The IPO's pricing at 113.6 times FY26 earnings looks stretched, especially when the return on equity is just 6.19%. The asset-pooling model has growth potential and KKR's involvement adds confidence, but retail investors must ask: can the company sustain 50%+ revenue growth and improve margins to match the valuation? The real test will be its ability to expand abroad and convert scale into higher profitability.
Sources (2): economictimes.indiatimes.com, economictimes.indiatimes.com (2)
This story was synthesised by AI from the 2 sources linked above.
