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LEAP India IPO Review

LEAP India IPO has been reviewed by 11 analysts, and the overall consensus is Neutral — carrying a score of 46. Out of the 11 analysts who have covered this IPO, 3 recommend subscribing while 8 advise caution or avoidance — reflecting a mixed view from the analyst community.

The issue is priced in the band of ₹151-159 per share, with a minimum application size of 94 shares (minimum investment of approximately ₹14,946 at the upper band). Subscription ran from 07 Aug 2026 to 11 Aug 2026. The issue size is ₹2,480 crore, a mix of fresh issue and offer for sale. As of now, the grey market premium (GMP) for LEAP India IPO is quoting at ₹13 (8.18%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
46/ 100
Neutral 3 of 11 recommend subscribing
How analysts voted
Apply 3
May apply 2
Neutral 3
Avoid 3
Not rated 2

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

LEAP India, set up in 2013, provides sustainable supply chain and asset-pooling solutions including equipment pooling, returnable packaging, inventory management and transportation for e-commerce, FMCG, automotive and consumer durables customers. FY26 income was ₹747.36 crore with profit of ₹62.34 crore. Analyst opinion was sharply divided: two said subscribe, one stayed neutral and two said avoid.

Listing gains

The notes value the issue at about 112 times FY26 earnings of ₹1.42 per share, on a market cap near ₹7,004 crore. Both avoid ratings rest squarely on that multiple, calling the valuation expensive and out of line with the company's return ratios. On the analysts' reading, listing gains looked unlikely.

Short-term strategy

Income grew strongly, from ₹485.03 crore to ₹747.36 crore in FY26, and EBITDA reached ₹378.83 crore. But profit of only ₹62.34 crore on that EBITDA shows how much depreciation and interest the asset-heavy model absorbs. One note preferred to track performance for a few quarters after listing.

Long-term strategy

The positive notes frame this as a long-term story built on adoption of asset pooling. The risks flagged are that any shift in technology or supply chain practice could reduce demand, and that dependence on third-party suppliers exposes the company to raw material price swings. The asset-heavy model itself remains the central debate.

How this is written: an AI-assisted summary of the 13 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

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Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for LEAP India IPO?

The analyst consensus for LEAP India IPO tracked on this page is Neutral, with a score of 46/100. Out of 11 analysts who have reviewed this IPO, 3 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 46 mean for LEAP India IPO?

The score of 46 is an aggregate of all analyst ratings tracked for LEAP India IPO. A score in this range reflects mixed views — some analysts are positive while others are cautious. Read the individual analyst verdicts above for more context.

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% (₹6.9 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of LEAP India IPO?

LEAP India IPO was priced at ₹151-159 per share. The minimum lot size is 94 shares, making the minimum investment approximately ₹14,946 at the upper end of the price band. Subscription ran from 07 Aug 2026 to 11 Aug 2026.

Explore LEAP India IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

LEAP India IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Neutral
Score
46 / 100
Listed at
₹165.9
Full IPO details
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