LEAP India IPO Day 3 LIVE: GMP, subscription status to review. Apply or not?
LEAP India IPO GMP today: According to Investorgain, the company shares are available at a premium of ₹13 in the grey market today
LEAP India IPO Day 3 LIVE: The initial public offering (IPO) of LEAP India Ltd hit the Indian Primary Market on 7 August 2026, and will remain open until 11 August 2026. So, investors have just one day to apply for the LEAP India IPO. The company management has offered LEAP India shares at a price band of ₹151 to ₹159 per equity share.
The company aims to raise ₹2,480 crore, which means the Dhoot Transmission IPO size is ₹3,067 crore. The book-build issue comprises both fresh shares and an Offer for Sale (OFS). The public issue is proposed for listing on the BSE and NSE exchanges. Meanwhile, the company's shares are available in the grey market.
LEAP India IPO GMP today
According to Investorgain, the company shares are available at a premium of ₹13 in the grey market today. This means the LEAP India IPO GMP (Grey Market Premium) today is ₹13, around 8% higher than the upper price band of the book-building issue.
LEAP India IPO subscription status
By 5:00 PM on day 3, the public issue had been booked 8.38 times, the retail portion had been subscribed 1.71 times, whereas the NII segment had been filled 12.64 times. The QIB portion had been subscribed to 16.84 times.
LEAP India IPO review
Anand Rathi has assigned an ‘apply’ tag to the public issue, saying, "At the upper end of the price band, the company is valued at a P/E of 113.6x FY26 earnings, EV/EBITDA of 21.8x, and P/BV of 6.9x, implying a post-issue market capitalisation of ₹70,045 million. While LEAP India is well-positioned to benefit from the increasing adoption of asset-pooling solutions, supply chain formalisation, and its international expansion strategy, the issue appears aggressively priced given its ROE of 6.19%. Hence, we recommend a "Subscribe – Long Term" rating to the IPO."
BP Equities has also assigned a ‘subscribe’ tag to the public issue, saying, "The valuation appears reasonable considering the company's leadership in the asset pooling industry, diversified customer base, scalable business model, and favourable long-term growth outlook driven by increasing adoption of organised logistics and supply chain solutions. Accordingly, we recommend a "SUBSCRIBE" rating for the issue with a long-term investment horizon."
KC Securities and Ventura Securities have also assigned a ‘subscribe’ tag to the LEAP India IPO.
LEAP India IPO details
The LEAP India IPO comprises a fresh issue of 3.02 crore equity shares worth ₹480 crore and an offer for sale (OFS) of 12.58 crore shares valued at approximately ₹2,000 crore.
Under the OFS portion, KKR-backed Vertical Holdings II will sell shares worth around ₹1,998.6 crore, while the remaining shares will be offloaded by promoter group entity KIA EBT Scheme 3.
The public issue opened for subscription on August 7, 2026, and will close on August 11. The share allotment is expected to be finalised on August 12, with LEAP India shares likely to list on the NSE and BSE on August 14.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
About the Author
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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