IPO Listed — 14 Aug 2026
Listing Price: ₹165.9
LEAP India IPO GMP History | Listing Price ₹165.9 & Kostak Rate
LEAP India IPO has been listed on August 14, 2026 at a listing price of ₹165.9, against the issue price of ₹159 — a gain of ₹6.9 (+4.34%). The GMP peaked at ₹19.5 on 6 August 2026 and reached a low of ₹3 on 5 August 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
LEAP India IPO raised ₹2480 Cr. through its IPO at a price band of ₹151 to ₹159 per share, with a lot size of 94 shares. The IPO was open for subscription from 07 Aug 2026 to 11 Aug 2026.
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 14 Aug 2026 | ₹ 13 | 8.18% | ₹ 0 | ₹ 0 | |
| 13 Aug 2026 | ₹ 13.5 | 8.49% | ₹ 0 | ₹ 0 | |
| 12 Aug 2026 | ₹ 11.75 | 7.39% | ₹ 0 | ₹ 0 | |
| 11 Aug 2026 | ₹ 12 | 7.55% | ₹ 0 | ₹ 0 | |
| 10 Aug 2026 | ₹ 13 | 8.18% | ₹ 0 | ₹ 0 | |
| 09 Aug 2026 | ₹ 16 | 10.06% | ₹ 0 | ₹ 0 | |
| 08 Aug 2026 | ₹ 16 | 10.06% | ₹ 0 | ₹ 0 | |
| 07 Aug 2026 | ₹ 15 | 9.43% | ₹ 0 | ₹ 0 | |
| 06 Aug 2026 | ₹ 19.5 | 12.26% | ₹ 0 | ₹ 0 | |
| 05 Aug 2026 | ₹ 3 | 1.89% | ₹ 0 | ₹ 0 | |
| 04 Aug 2026 | ₹ 3 | 1.89% | ₹ 0 | ₹ 0 | |
| 03 Aug 2026 | ₹ 4 | 2.52% | ₹ 0 | ₹ 0 |
LEAP India IPO Dates
| Event | Date |
|---|---|
| Open Date | 07 Aug, 2026 |
| Close Date | 11 Aug, 2026 |
| Allotment Date | 12 Aug, 2026 |
| Refund Date | 13 Aug, 2026 |
| Credit to Demat | 13 Aug, 2026 |
| Listing Date | 14 Aug, 2026 |
LEAP India IPO Actual Listing Price
| Basis | Value |
|---|---|
| Issue Price | ₹159 |
| GMP-Based Estimate (Pre-Listing) | ₹172 (+8.2%) |
| Actual Listing Price | ₹165.9 (+4.34%) |
| Listing Gain / Loss | +₹6.9 per share |
| Listing Date | 14 Aug, 2026 |
Is LEAP India IPO GMP Reliable?
Grey market premium for LEAP India IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the LEAP India IPO full review for a fundamentals-based assessment before making any grey market trades.
LEAP India IPO IPO Kostak Rate Explained
The Kostak rate for LEAP India IPO was not active during the subscription period, as no grey market premium was established. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not active for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About LEAP India IPO
The company gives on rent wooden pallets that can carry loads up to 5 tonnes, foldable and stackable plastic containers, and material handling equipment such as forklifts, articulated forklifts and very narrow aisle (VNA) forklifts. Along with this, it also provides returnable packaging, inventory management, transport, and repair and maintenance services.
LEAP India works with companies in FMCG, food and beverage, third-party logistics, e-commerce and quick commerce, automotive, industrial and consumer durable sectors. As on 31 March 2026, it had more than 1,000 customers. Some of the well-known names are Hindustan Coca-Cola Beverages, Marico, Toll (India) Logistics, Daikin Airconditioning India and Panasonic Life Solutions India. On the same date, the company had 419 permanent employees and 2,062 MHE operators.
Pallets are the main business. They gave 62.17% of the revenue from operations in FY2026. The company holds about 90% share of the pallet pooling market in India. Global investment firm KKR bought a majority stake in the company in 2023 through Vertical Holdings II Pte. Ltd. It is now a promoter along with founder Sunu Mathew.
Strengths & Risks
Strengths
- ✓ Pallet use in India is still very low. Only about 15% of goods movement here uses pallets, against more than 90% in North America and Europe. So there is a long runway for growth.
- ✓ It is the largest on-demand asset pooling company in India, with about 90% share of the pallet pooling market. It is not easy for new players to enter this business.
- ✓ It is a trusted supply chain partner. The company focuses on quality and sustainability, and keeps changing its offering as customer needs change.
- ✓ The pay-per-use model gives steady income. The company has more than 1,000 blue-chip customers in fast growing sectors like FMCG, food and beverage, 3PL and quick commerce.
- ✓ It is backed by global investment firm KKR, which is a promoter along with founder Sunu Mathew.
Risks
- ⚠ The issue is priced very high. At the upper band of Rs 159, the post-issue P/E works out to about 112 times the FY2026 earnings of Rs 1.42 per share. There is very little room for any disappointment.
- ⚠ Returns are low for such a high price. ROE was 6.48% and RoNW was 6.19% in FY2026, even though the EBITDA margin was a healthy 50.69%.
- ⚠ The business needs a lot of money. Total borrowings went up from Rs 513.07 crore in FY2024 to Rs 1,017.73 crore in FY2026. Debt to equity is 1.01. Only Rs 360 crore of the fresh issue will be used to repay loans.
- ⚠ Out of the total issue of Rs 2,480 crore, Rs 2,000 crore is offer for sale. The company will get only Rs 480 crore. KKR is the main seller and promoter holding will come down from about 95.73% to 60.61%.
- ⚠ The company depends heavily on one product. Pallets gave 62.17% of the revenue from operations in FY2026. Any problem in the pallet business will hit the company hard.
- ⚠ Supplier concentration is high. The top ten suppliers and service providers made up 63.27% of total purchases in FY2026. Prices of timber and plastic can also go up and down.
- ⚠ Income comes from long-term contracts. If big customers do not renew them, or if payments are delayed, cash flow will be affected.
- ⚠ Growth has been very fast. Revenue went up 54% and profit went up 66% in FY2026. Such high growth may not continue every year.
Frequently Asked Questions about LEAP India IPO
What is the GMP of LEAP India IPO?
The current Grey Market Premium (GMP) of LEAP India IPO is ₹ 13.
What is the Kostak Price of LEAP India IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for LEAP India IPO is currently not available.
What is the Subject to Sauda Price of LEAP India IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What was the actual listing price of LEAP India IPO?
LEAP India IPO listed on August 14, 2026 at ₹165.9, against the issue price of ₹159 — a gain of +4.34%.
How did the GMP of LEAP India IPO trend before listing?
The GMP of LEAP India IPO was falling in its final days before listing. The GMP peaked at ₹19.5 on 6 August 2026. View the day-wise table above for the complete GMP history.
Explore LEAP India IPO Further
For a complete picture before making your investment decision, explore these resources:
