2 weeks ago
LEAP India lists at 4% premium; Technocraft Ventures surges 34%
Two companies started selling their shares to the public for the first time, which is called an IPO.
When shares begin trading on the stock market, that is called a listing.
LEAP India is a company that helps other businesses share and reuse equipment for shipping goods.
Its shares began trading at Rs 165.90, which is a little more than the Rs 159 people paid during the IPO.
That small increase is called a premium.
A KKR-backed company, LEAP India collected Rs 2,480 crore from its IPO.
Another company called Technocraft Ventures also listed, and its shares jumped to Rs 284, a much bigger 34% premium.
Before the listing, traders in the grey market expected LEAP India shares to be worth around Rs 172.
A research firm said the LEAP India IPO was a good long-term buy, but noted the price seemed a bit high.
The stock market is where people buy and sell pieces of companies.
LEAP India listed at Rs 165.90 on the NSE, a 4.34% premium over its Rs 159 issue price.
The KKR-backed company raised Rs 2,480 crore through its IPO, which opened for bidding on August 07.
Technocraft Ventures made a strong debut, listing at Rs 284 on the NSE, a 34% premium.
Ahead of listing, LEAP India shares traded at Rs 172 in the grey market, an 8% premium implying a lot profit of Rs 1,222.
Anand Rathi Research rated the IPO 'Subscribe – Long Term' but noted it appears aggressively priced given an ROE of 6.19%.
- Who
- LEAP India (a KKR-backed supply chain and asset-pooling company), Technocraft Ventures, KKR, JM Financial, and Anand Rathi Research.
- What
- LEAP India listed at a 4.34% premium on the NSE while Technocraft Ventures debuted at a 34% premium.
- Where
- National Stock Exchange (NSE) and BSE in India.
- When
- Listings took place this morning; LEAP India's IPO bidding opened on August 07.
- Why
- LEAP India went public to raise Rs 2,480 crore through fresh shares and an offer for sale, with investor interest reflected in its grey market premium.
Key facts
- LEAP India listing price (NSE)
- Rs 165.90 (4.34% premium)
- LEAP India issue price
- Rs 159 per equity share
- IPO size
- Rs 2,480 crore via book-building
- IPO components
- 3.02 crore fresh shares (Rs 480 crore) and 12.58 crore OFS shares (Rs 2,000 crore)
- Technocraft Ventures listing price
- Rs 284 on NSE (34% premium)
- Grey market premium
- 8% (Rs 172), implying Rs 1,222 lot profit
- Book-running manager
- JM Financial
- Registrar
- MUFG Intime India
Quotes
Anand Rathi Research
Investment research firm Anand Rathi Research
“At the upper end of the price band, the company is valued at a P/E of 113.6x FY26 earnings, EV-to-EBITDA of 21.8x, and P/BV of 6.9x, implying a post-issue market capitalisation of Rs 7,004.5 crore.”
financialexpress.com










