# KKR-backed LEAP India lists at 4% premium, then falls below issue price

2026-08-14T06:11:36+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 3 independent outlets

LEAP India, backed by KKR, listed at Rs 165.90 on the NSE on Friday, a 4.3% premium to its issue price of Rs 159, and at Rs 166 on the BSE. The stock soon fell below the issue price, touching Rs 154.21 on the NSE and Rs 152.25 on the BSE, as weak market sentiment and valuation concerns weighed. Overall subscription for the Rs 2,480-crore IPO was 8.38 times, but retail investors subscribed only 1.71 times. The supply chain logistics firm is valued at Rs 6,918 crore ($725 million). The debut contrasted with Technocraft Ventures, which listed at a 34% premium and traded 58% higher. LEAP India's revenue rose to Rs 730 crore in FY26 from Rs 365 crore in FY24, but analysts note declining EBITDA margins. The company plans to use fresh issue proceeds to repay borrowings and fund working capital.

## Coverage

- thehindubusinessline.com <https://www.thehindubusinessline.com/markets/kkr-backed-leap-india-falls-in-trading-debut-valued-at-725-million/article71344165.ece>
- thehindubusinessline.com <https://www.thehindubusinessline.com/markets/technocraft-ventures-shines-with-58-listing-gains-leap-india-makes-muted-debut-on-bourses/article71344132.ece>
- ndtvprofit.com <https://www.ndtvprofit.com/markets/leap-india-shares-debut-with-over-4-percent-premium-on-stock-exchanges-following-rs-2-480-crore-ipo-subscription-11908188#publisher=newsstand>
- livemint.com <https://www.livemint.com/market/ipo/leap-india-ipo-listing-shares-debut-at-a-4-premium-amid-weak-stock-market-sentiment-11786682425070.html>

Tags: IPO, KKR, LEAP India, listing gains, stock market debut, Technocraft Ventures
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