Leapfrog Engineering Services IPO To Open for Subscription on June 17, 2026: ₹88.51 Crore SME Issue Set for BSE SME Listing

Mumbai, June 12: Leapfrog Engineering Services is scheduled to open its initial public offering for subscription on June 17, 2026, marking the start of a three-day bidding window for the engineering services company’s ₹88.51 crore SME issue. The public offer will close on June 19, with the company proposing to list its shares on the BSE SME platform on June 24, 2026. 

The offering comes as the company seeks fresh capital to support expansion plans, fund working capital requirements and strengthen its operational capabilities. Offer documents show that a significant portion of the proceeds has been earmarked for establishing an assembling unit and supporting business growth initiatives. 

Fresh Issue Dominates the Offer StructureFresh Issue Dominates the Offer Structure 

The IPO is a book-built issue comprising a fresh issue of approximately 3.46 crore equity shares aggregating to ₹79.60 crore, alongside an offer for sale of around 38.76 lakh shares worth ₹8.91 crore. 

Together, the two components take the total issue size to ₹88.51 crore. 

Fresh issue proceeds will flow directly to the company, while funds raised through the offer for sale portion will accrue to the selling shareholders. That distinction often matters because it indicates how much new capital is actually entering the business after listing. 

Price Band Fixed at ₹21–₹23 Per SharePrice Band Fixed at ₹21–₹23 Per Share 

Leapfrog Engineering Services has fixed the IPO price band at ₹21 to ₹23 per equity share. 

Investors participating in the book-building process can submit bids within this range during the subscription period. Following the close of bidding, the final issue price is determined based on investor demand and allocation methodology prescribed under the book-building framework. 

At the upper end of the price band, the issue translates into a pre-IPO market capitalisation of roughly ₹326.12 crore. 

Minimum Application Requires ₹2.76 LakhMinimum Application Requires ₹2.76 Lakh 

The company has set the lot size at 6,000 shares. 

Retail investors are required to bid for a minimum of two lots, or 12,000 shares, translating into an investment of ₹2.76 lakh at the upper price band. For Small HNI investors, the minimum application size rises to 18,000 shares, requiring an investment of approximately ₹4.14 lakh. 

SME IPOs typically carry larger application sizes than mainboard offerings because of the lower number of shares available for public participation. 

Subscription and Listing ScheduleSubscription and Listing Schedule 

As per the tentative timetable disclosed in the offer documents, the basis of allotment is expected to be finalised on June 22, 2026. 

Successful applicants are likely to receive shares in their demat accounts on June 23, while refunds for unsuccessful bidders are expected to be processed on the same day. Trading in the company’s shares is currently scheduled to commence on June 24, 2026. 

While these dates remain subject to regulatory processes and exchange approvals, they provide investors with a roadmap of key milestones following the issue closure. 

Funds to Support Expansion and Working CapitalFunds to Support Expansion and Working Capital 

The company plans to utilise the IPO proceeds across multiple business requirements. 

According to the stated objects of the issue, approximately ₹27 crore has been allocated toward funding capital expenditure for an assembling unit. Another ₹36.05 crore is proposed to be deployed toward working capital requirements, while the remaining amount will be used for general corporate purposes and issue-related requirements. 

For engineering and project-driven businesses, working capital often plays a critical role because execution cycles can involve substantial upfront procurement and operational costs before project revenues are realised. 

Engineering Services Business with Multi-Sector PresenceEngineering Services Business with Multi-Sector Presence 

Incorporated in 2005, Leapfrog Engineering Services operates in the integrated engineering and EPCC segment, serving customers across a range of industrial sectors. 

The company provides end-to-end engineering solutions spanning project design, procurement, construction support and commissioning activities. Its project portfolio covers industries including oil and gas, pharmaceuticals, food processing and metals. 

Management states that the business has built capabilities in executing engineering projects through in-house technical teams, supply chain management and project execution expertise developed over nearly two decades of operations. 

Financial SnapshotFinancial Snapshot 

For the period ended December 31, 2025, the company reported total income of ₹105.05 crore and a profit after tax of ₹14.18 crore. 

Assets stood at ₹156.04 crore, while net worth was reported at ₹67.44 crore. The company disclosed an EBITDA of ₹20.18 crore during the period. 

Key profitability metrics included a return on equity of 21.03% and return on capital employed of 23.98%, reflecting the company’s recent earnings profile ahead of the public issue. 

Issue Management TeamIssue Management Team 

The IPO is being managed by Finshore Management Services Limited, which is acting as the book-running lead manager. 

Integrated Registry Management Services Private Limited has been appointed registrar to the issue, while Anant Securities Limited will function as the market maker. 

With the subscription window set to open on June 17, investor participation levels across retail and non-institutional categories will be closely watched as Leapfrog Engineering Services moves toward its proposed BSE SME debut later in the month. 

Source: 

• https://www.bsesme.com/download/352101/DRHP_Leapfrog_BSE_04022025_Final_20250204234147.pdf