LEAP India IPO raises INR 24.8 billion, strengthening investor confidence as the KKR-backed supply chain company lists on Indian exchanges.

The LEAP India IPO has raised INR 24.8 billion through a Rule 144A/Regulation S offering, with A&O Shearman advising the underwriters as sole international legal counsel. The KKR portfolio company’s shares were listed on the National Stock Exchange of India and BSE Limited, highlighting investor confidence in India’s capital markets and companies supporting supply chain efficiency.

A&O Shearman Advises on Complex IPO Structure

A&O Shearman advised the underwriters on the offering structure, international securities law compliance and disclosure requirements. The IPO included a fresh issue of equity shares and an offer for sale by existing shareholders, including Vertical Holdings II Pte. Ltd., a KKR-controlled entity, and KIA EBT Scheme 3.

The transaction also required pro forma financials in the draft red herring prospectus following LEAP India’s acquisition of CHEP India, completed in January 2025. That requirement added financial and regulatory complexity to the offering.

LEAP India Expands Supply Chain Market Reach

LEAP India operates India’s largest on-demand asset pooling platform for supply chain management. Its services include pallets, containers and material handling equipment supplied to customers across industries.

The company’s market position reflects demand for efficient logistics infrastructure and shared supply chain assets. Its listing gives investors exposure to a business operating within India’s logistics ecosystem.

Key takeaways:

  • 8 billion LEAP India IPO completed successfully

  • A&O Shearman acted as sole international counsel

  • Shares listed on NSE and BSE exchanges

  • KKR portfolio company enters India’s markets

  • Pro forma financials reflected CHEP India acquisition

Cross-Border Expertise Supports Market Expansion

Partners Pallavi Gopinath Aney and Mark Leemen led the A&O Shearman team, supported by Serena Upadhyay and Rajshree Agarwal. Their work covered international securities law and disclosure considerations associated with the offering.

The LEAP India IPO demonstrates the importance of cross-border legal expertise in India’s capital markets. A&O Shearman is ranked among leading capital markets advisers across Asia-Pacific, with top-tier recognition in Chambers Asia Pacific and Legal 500 Asia Pacific across several jurisdictions, including India, Singapore, Thailand, Vietnam and Indonesia.

The transaction reflects investor appetite for companies strengthening supply chain efficiency and shows how acquisitions, financial reporting and international offering rules intersect within Indian listings.

Business Fortune believes that the LEAP India IPO highlights strong investor confidence and India’s maturing capital markets.

 

FAQs

How much did the LEAP India IPO raise?

The LEAP India IPO raised INR 24.8 billion through a Rule 144A/Regulation S offering, marking a significant transaction in India’s capital markets.

Who advised the underwriters on the LEAP India IPO?

A&O Shearman served as the sole international legal counsel to the underwriters. Its team advised on the transaction structure, international securities law compliance and disclosure requirements.

Where are LEAP India’s shares listed?

Following the IPO, LEAP India’s shares were listed on both the National Stock Exchange of India (NSE) and BSE Limited.

Why was the LEAP India IPO considered complex?

The offering combined a fresh issue of equity shares with an offer for sale by existing shareholders, including a KKR-controlled entity. The transaction also required pro forma financials following LEAP India’s acquisition of CHEP India in January 2025.

What does LEAP India provide to the supply chain industry?

LEAP India operates an on-demand asset pooling platform that supports supply chain management. Its offerings include pallets, containers and material handling equipment for customers across multiple industries.