Now Reading: LEAP India Raises Rs 744 Crore From Anchor Investors Before IPO
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LEAP India Raises Rs 744 Crore From Anchor Investors Before IPO
LEAP India Raises Rs 744 Crore From Anchor Investors Before IPO
LEAP India has raised Rs 743.6 crore from anchor investors ahead of its public issue, which opens on August 7 and closes on August 11, Inc42 reports. The logistics technology company allotted…
The Story in Brief
LEAP India has raised Rs 743.6 crore from anchor investors ahead of its public issue, which opens on August 7 and closes on August 11, Inc42 reports. The logistics technology company allotted 4.67 crore shares at the upper price band of Rs 159. One life insurer and six domestic mutual funds bought 1.9 crore shares through 15 schemes. The company had also raised Rs 371.3 crore in a pre-IPO placement.
The IPO comprises a fresh issue of up to Rs 480 crore and an offer for sale of up to Rs 2,000 crore. The price band is Rs 151 to Rs 159, valuing LEAP India at about Rs 7,004.5 crore at the top end. NDTV Profit reports a grey market premium signalling a possible 6% listing gain, though such indications are unofficial and can change.
The Indian Opinion
The easy story is that anchor demand or a 6% grey market premium proves a strong listing. Neither does. The issue also includes a much larger offer for sale than fresh capital, so investors should ask how much money reaches the business. LEAP India’s reported profit and revenue growth offer useful context, but execution matters more than launch-day pricing. The first hard test is whether the shares hold above the Rs 159 issue price after listing.
Sources (2): ndtvprofit.com, inc42.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
