IPO · Professional & Local Services

Leap India files IPO papers for ₹2,480 crore

By Startup Enthusiast · 4 August 2026

What they do

Leap India provides supply chain solutions including equipment pooling and returnable packaging

It filed its RHP for a ₹2,480 crore IPO comprising a fresh issue of ₹480 crore and an OFS of ₹2,000 crore

KKR affiliates are selling shares worth up to ₹2,000 crore in the offer-for-sale

Leap India filed its red herring prospectus (RHP) for an initial public offering (IPO) on 3 August 2026.
The IPO size is ₹2,480 crore in total.
This includes a fresh issue of ₹480 crore and an offer-for-sale (OFS) of ₹2,000 crore.
The price band is set at ₹151 to ₹159 per share.
The anchor book will open on 6 August 2026.
The public issue will run from 7 August to 11 August 2026.
In the OFS, Vertical Holdings II Pte. Ltd. (a KKR affiliate) will sell shares worth up to ₹1,998.6 crore.
KIA EBT Scheme 3 (another KKR affiliate) will sell shares worth up to ₹1.4 crore.

Leap India's net profit for FY26 jumped 65.7% to ₹62.3 crore from ₹37.6 crore in FY25.
Its operating revenue grew 56.4% to ₹729.5 crore from ₹466.5 crore in FY25.
The company acquired CHEP India Pvt Ltd for ₹77.58 crore in FY26.
KKR, which invested earlier, is using the IPO to partially exit its stake.

Leap India is a tech-enabled asset pooling services company operating on circular economy principles.
It provides supply chain solutions including equipment pooling, returnable packaging, inventory management, transportation, and repair & maintenance.
Its core business is renting reusable logistics assets such as pallets and containers.
Revenue comes from product sales and services, with services being the main driver.
It serves over 1,000 customers including Coca-Cola, Marico, Panasonic, Haier, Daikin.
The food & beverages segment contributed more than 25% of business in FY26, followed by automotive and ecommerce.
Its network includes 29 warehouses/FCs, 7 outsourced pallet manufacturing units, 10,100+ touchpoints, and 2,860+ employees.
Clients include preform & closure suppliers, FG manufacturers, 3PLs, and modern trade/e-commerce DCs & stores.
It has a subsidiary named TARON.

Vertical Holdings II Pte. Ltd. (seller) — A KKR affiliate selling shares in the OFS.
KIA EBT Scheme 3 (seller) — A KKR affiliate selling shares in the OFS.

Product: A full-stack international student mobility and study-abroad platform.
Customers: Students planning to study overseas, with universities and education partners also involved in the funnel.
How it makes money: Makes money through student services and partner referrals or commissions from education institutions.
What sets it apart: Offers end-to-end support across the study-abroad journey and is expanding into new geographies.
Operations: Works with educational institutions abroad and supports international student placement.