LEAP India's KKR-backed IPO closes 1.95 times as employees lead
LEAP India's IPO, backed by KKR, closed at 1.95 times subscription by early afternoon on its final day.
Employees showed the most excitement, subscribing over six times their allotted shares.
Non-institutional investors and big financial players also joined in, but retail investors weren't as enthusiastic, with their portion not fully subscribed.
LEAP India issue ₹480cr and ₹2,000cr
The IPO offered fresh shares worth ₹480 crore plus a ₹2,000 crore offer for sale at ₹151 to ₹159 per share.
Before this launch, LEAP India had already raised ₹743.62 crore from institutional investors, including Smallcap World Fund and the Monetary Authority of Singapore, and around ₹371.3 crore through a separate pre-IPO placement.
With shares proposed to be listed on the BSE and NSE, the company is set for a market value of about ₹7,005 crore, with plans to use the funds mainly to pay off debt and boost daily operations.