Leap India Ipo
LEAP India IPO Review & Key Points
Review:
Peer Group Comparison
There are no listed comparable companies in India or globally
IPO Lead Managers aka Merchant Bankers
JM Financial Ltd.
Avendus Capital Pvt. Ltd.
IIFL Capital Services Ltd.
UBS Securities India Pvt. Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | August 7, 2026 |
| IPO Close Date | August 11, 2026 |
| Face Value | ₹1 Per Equity Share |
| IPO Price Band | ₹151 to ₹159 Per Share |
| Issue Size | Approx ₹2,480 Crores |
| Fresh Issue | Approx ₹480 Crores |
| Offer for Sale: | Approx 12,57,86,163 Equity Shares |
| Issue Type | Book-built Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 94 | ₹14,946 |
| Retail Maximum | 13 | 1,222 | ₹1,94,298 |
| S-HNI Minimum | 14 | 1,316 | ₹2,09,244 |
| S-HNI Maximum | 66 | 6,204 | ₹9,86,436 |
| B-HNI Minimum | 67 | 6,298 | ₹10,01,382 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
| Anchor Bidding Date | August 6, 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | 2026 |
| lock-in period end date 50% shares (90 Days) | 2026 |
| IPO Open Date: | August 7, 2026 |
| IPO Close Date: | August 11, 2026 |
| Basis of Allotment: | August 12, 2026 |
| Refunds: | August 13, 2026 |
| Credit to Demat Account: | August 13, 2026 |
| IPO Listing Date: | August 14, 2026 |
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
| Promoter and Promoter Group | 39,28,15,012 | 95.42% | – | -% |
| Others* | 1,75,32,768 | 4.58% | – | -% |
| Total | 41,03,47,780 | 100% | 44,05,36,459 | 100% |
| Purpose | Crores |
| Repayment / prepayment, in full or in part, of certain borrowings availed by the Company | ₹360.00 |
| Purposes | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹371.94 | ₹325.24 | ₹37.17 | ₹1,400.28 |
| 2025 | ₹485.03 | ₹432.97 | ₹37.56 | ₹2,042.46 |
| 2026 | ₹747.36 | ₹666.50 | ₹62.34 | ₹2,401.05 |
| KPI | Values |
| ROE: | 6.48% |
| ROCE: | 19.06% |
| EBITDA Margin: | 50.69% |
| PAT Margin: | 8.34% |
| Debt to equity ratio: | 1.01 |
| Earning Per Share (EPS): | ₹1.52 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 6.19% |
| Net Asset Value (NAV): | ₹24.52 |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |