LEAP India IPO subscribed 8.38 times on final day

LEAP India Ltd, a supply chain asset pooling firm, saw its Rs 2,480-crore initial public offering (IPO) subscribed 8.38 times on its final day of bidding. According to NSE data, the offering received bids for 96,32,60,770 shares against the 11,49,91,735 shares on offer.

Subscription levels varied by investor category. Qualified institutional buyers (QIBs) bid for 16.84 times their reserved quota, while non-institutional investors subscribed 12.64 times. Retail investors subscribed 1.71 times. The IPO includes a fresh issue of equity shares worth up to Rs 480 crore and an offer for sale (OFS) of up to Rs 2,000 crore.

The company intends to use the proceeds from the fresh issue to repay or prepay certain borrowings and to meet working capital requirements. At the upper end of the Rs 151-159 price band, LEAP India is expected to have a post-issue market capitalization of approximately Rs 7,005 crore. The company's shares are slated for listing on the BSE and the NSE.