Now Reading: LEAP India IPO Subscribed 42% on Day 2, QIBs Lead
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LEAP India IPO Subscribed 42% on Day 2, QIBs Lead
LEAP India’s IPO picked up on day two, with investors bidding for 4.77 crore shares against 11.49 crore on offer, a 42% subscription as of 2:30 pm. Qualified institutional buyers led at…
The Story in Brief
LEAP India’s IPO picked up on day two, with investors bidding for 4.77 crore shares against 11.49 crore on offer, a 42% subscription as of 2:30 pm. Qualified institutional buyers led at 61% of their quota, while non-institutional and retail investors each subscribed 34%. Employees oversubscribed their portion by 2.32 times.
The issue had closed day one at 26%. The Rs 2,480-crore IPO includes a fresh issue of Rs 480 crore and an offer for sale of Rs 2,000 crore. About Rs 360 crore from the fresh issue will repay borrowings. The logistics firm, which counts Coca-Cola and Marico among its clients, posted a 66% rise in net profit to Rs 62.3 crore in FY26, with revenue up 56% to Rs 729.5 crore.
The Indian Opinion
The narrative that every IPO sees a retail rush doesn't hold here: retail subscription is just 34%, against QIBs at 61%. The employee oversubscription suggests insider confidence, but the overall demand is modest for a company valued at Rs 7,005 crore. Watch for day three numbers, if retail stays below 50%, the hype of a logistics-tech boom may be overblown. Will the institutional lead sustain, or is this a tepid signal?
Source: inc42.com
This story was synthesised by AI from the source linked above.
