LEAP India to list Friday after IPO's nearly ninefold oversubscription
LEAP India, a big name in supply chain asset pooling, is making its stock market debut on BSE and NSE this Friday (August 14).
The buzz is real: the IPO was almost nine times oversubscribed, showing strong investor interest.
Thanks to a gray market premium of ₹12, shares are expected to list at ₹171 each, which is about 7.55% higher than the issue price.
IPO raised ₹2,480cr, ₹480cr fresh issue
The IPO raised ₹2,480 crore, with new shares worth ₹480 crore and an offer for sale totaling ₹2,000 crore. The price range was set between ₹151 and ₹159 per share.
Fresh funds will be used to pay certain borrowings and for general corporate purposes.
Over the past three years, the company has steadily boosted its revenue and profits while expanding to more than 10,100 customer touchpoints across India.