LEAP India Shares Climb Over 4% in Debut Trade

New Delhi: Shares of supply chain asset pooling firm LEAP India Ltd on Friday listed over 4 per cent higher against the issue price of Rs 159.

The company’s stock made its market debut at Rs 166, up 4.40 per cent from the issue price on the BSE.

At the NSE, it listed at Rs 165.90, a premium of 4.33 per cent.

The company’s market valuation stood at Rs 6,530.95 crore.

The initial share sale of LEAP India Ltd was subscribed 8.38 times on the last day of bidding on Tuesday.

The Rs 2,480-crore initial public offer (IPO) had a price band of Rs 151-159 per share.

The IPO had a fresh issue of equity shares aggregating up to Rs 480 crore and an offer for sale (OFS) worth up to Rs 2,000 crore, taking the overall issue size to Rs 2,480 crore.

Proceeds from the fresh issue will be utilised towards repayment or prepayment of certain borrowings of the company, while the remaining amount will be used to meet its working capital requirements.

Earlier, LEAP India raised around Rs 371.3 crore through a pre-IPO placement, with Singapore sovereign wealth fund GIC’s subsidiary Gamnat Pte Ltd and hedge fund Dymon Asia Multi-Strategy Investment (Singapore) Pte Ltd among the investors. The placement was conducted on August 3-4.

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