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LEAP India debuted at ₹166 on the BSE and NSE, marking a 4.4% premium over its ₹159 IPO price.

The listing gives LEAP India a ₹7,313 Cr market cap as investors bet on the growth of asset-light, tech-enabled supply chain solutions.

The ₹2,480 Cr IPO was oversubscribed 8.38X, while LEAP India’s FY26 net profit rose 66% to ₹62.3 Cr and operating revenue grew 56.4% to ₹729.5 Cr.

Update | 4:30 PM IST

Shares of Leap India closed their maiden trading session at ₹143.1 on the BSE, down 10% from the issue price of ₹159 and around 14% lower than the listing price of ₹166.

The company’s shares closed on NSE at ₹144.9, down 8.9% from the issue price and 12.6% from the listing price of ₹165.9.

The company’s market capitalisation stood at ₹6,392.2 Cr (about $670 Mn) at the end of the session.

Original | 10:05 IST

Shares of LEAP India made their stock market debut on the BSE and NSE today, listing at a premium of about 4.4% to the issue price of ₹159. The stock got listed at ₹166 on the BSE and ₹165.90 on the NSE.

The company’s market capitalisation stood at ₹7,011.1 Cr (about $735 Mn).

At 10:05 IST, the stock was trading down over 4% from the listing price at ₹157.5 on the BSE.

LEAP India had set a price band of ₹151 to ₹159 for the issue, seeking a valuation of ₹7,004.5 Cr (about $735 Mn).

The logistics tech company’s public issue comprised a fresh issue of shares worth up to ₹480 Cr and an offer for sale of up to ₹2,000 Cr. Around ₹360 Cr from the fresh issue will be used to repay or prepay certain borrowings, while the remaining proceeds will be deployed for general corporate purposes.

The company’s IPO was oversubscribed 8.38X, with investors bidding for 96.32 Cr shares against the 11.49 Cr shares on offer.

Founded in 2013 by Mathew, LEAP India offers supply chain solutions spanning equipment pooling, returnable packaging, inventory management and movement, transportation, and repair and maintenance. It serves customers across sectors such as FMCG, beverages, ecommerce, automotive and retail.

The company said it served more than 1,000 customers as of the end of FY26, including Coca-Cola, Marico, Panasonic, Haier and Daikin. During the fiscal, the food and beverages segment accounted for more than a quarter of its business, followed by automotive and ecommerce.

LEAP India’s core business revolves around leasing supply chain assets and equipment to enterprises. As of the end of FY26, it had 14.7 Mn assets, comprising 8.98 Mn pallets and 5.71 Mn containers. The company supports its operations through a network of more than 29 warehouses and service centres, along with over 10,100 customer touchpoints.

On the financial front, LEAP India reported a 66% jump in net profit to ₹62.3 Cr in FY26 from ₹37.5 Cr in the previous year. Operating revenue zoomed 56.4% to ₹729.5 Cr from ₹466.5 Cr in FY25. Including other income of ₹17.8 Cr, total income during the period under review stood at ₹747.3 Cr.