LEAP India IPO Day 2: Explore GMP, Subscription Status, Issue Details, and Whether You Should Subscribe!

The LEAP India IPO has entered Day 2 of bidding with strong investor interest in its Rs 2,480 crore public issue, which includes a fresh issue of shares worth Rs 480 crore and an offer for sale of Rs 2,000 crore. The IPO is priced in the band of Rs 151 to Rs 159 per share. As of the first day, the issue has been subscribed 26% overall, with the retail portion seeing a more modest interest at 13%. Institutional investors displayed stronger demand, particularly Qualified Institutional Buyers (QIBs), who subscribed 61% of their allocated shares, indicating robust confidence among larger market participants.

Grey market sentiment appears to be optimistic, with a grey market premium (GMP) of around 10% over the upper end of the price band. This translates to an expected listing price of approximately Rs 175 per share. However, it is essential for investors to exercise caution as the GMP is an unofficial indicator that can fluctuate. Potential investors are advised to consider the company’s financial health, growth prospects, and the risks associated with the IPO in conjunction with the grey market trends.

For Indian investors, LEAP India presents an interesting opportunity, especially given its growth in the sustainable supply chain sector. The company has reported a strong financial performance, with significant increases in total income and profitability in FY2026. However, the IPO is considered aggressively priced by some analysts, raising questions about the valuation despite its positive outlook. Anand Rathi Research has recommended a “Subscribe – Long Term” rating, suggesting that the IPO may be more suitable for investors with a long-term strategy rather than those looking for quick gains.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)