LEAP India Limited has successfully raised ₹2,480 crore through its initial public offering (IPO) of equity shares. This capital raise included a fresh issue of shares alongside an offer for sale by existing promoter shareholders.
The renowned law firm Cyril Amarchand Mangaldas played a pivotal role in advising LEAP India on this significant IPO. The legal team was spearheaded by Devaki Mankad, who serves as Partner and Regional Co-Head for Capital Markets in the West, alongside Partner Anshul Roy. They were ably supported by a dedicated team comprising Principal Associate Akash Joshi, Senior Associates Adwait Deshmukh and Abishek Sankar, and Associates Archit Jain, Divyanshu Singh, and Harsha Menon.
In parallel, Shardul Amarchand Mangaldas & Co provided expert legal counsel to the Book Running Lead Managers for the IPO. These lead managers included JM Financial Limited, Avendus Capital Private Limited, IIFL Capital Services Limited, and UBS Securities India Private Limited. The advisory team at Shardul Amarchand Mangaldas & Co was led by Partner Sayantan Dutta, with Principal Associate Romit Raja Srivastava and Associates Pavitra Dubey and Anoop Mukundan rounding out the team.
LEAP India holds the distinction of being the largest on-demand asset pooling provider within India’s supply chain management sector, as verified by the F&S Report. The IPO garnered substantial interest, achieving an overall subscription rate of 8.38 times. Specifically, the portion allocated to qualified institutional buyers was subscribed 16.84 times, while non-institutional investors and retail individual investors subscribed at rates of 12.64 times and 1.71 times, respectively.
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