Leapfrog Engineering Services IPO: Check GMP, price band, subscription and other details

Synopsis

The IPO comprises a fresh issue of 3.46 crore shares aggregating Rs 79.6 crore and an offer for sale of 38.76 lakh shares worth Rs 8.91 crore. The company has fixed a price band of Rs 21-23 per share.

The Rs 88.5 crore IPO of Leapfrog Engineering Services will open for subscription on Wednesday and will close on June 19. The company is expected to list on the BSE SME platform on June 24. Ahead of the issue opening, the grey market premium (GMP) stood at zero, indicating no expected listing gains based on unofficial market activity.

The IPO comprises a fresh issue of 3.46 crore shares aggregating Rs 79.6 crore and an offer for sale of 38.76 lakh shares worth Rs 8.91 crore. The company has fixed a price band of Rs 21-23 per share.

Investors can bid for a minimum of 12,000 shares and in multiples of 6,000 shares thereafter. At the upper end of the price band, the minimum investment for retail investors is Rs 2.76 lakh. High-net-worth investors are required to invest at least Rs 4.14 lakh for three lots.

The issue size totals 3.85 crore shares, of which the net offer to the public stands at 3.66 crore shares after accounting for the market maker portion. Retail investors have been allocated 60.07% of the net issue, while non-institutional investors have been allotted 38.9%. Qualified institutional buyers account for just over 1% of the net offer.

Incorporated in 2005, Leapfrog Engineering Services provides integrated engineering procurement, procurement and construction (EPCC) solutions across sectors such as oil and gas, pharmaceuticals, food processing and metals.

The company offers services spanning electrical engineering solutions, industrial automation, instrumentation, fire protection systems and building automation. It executes turnkey EPC projects and provides installation, commissioning and maintenance services.

Leapfrog Engineering plans to utilise the IPO proceeds primarily for expansion and working capital requirements. Around Rs 27 crore will be used to set up an assembling unit, while Rs 36.05 crore has been earmarked for working capital needs. The remaining funds will be used for general corporate purposes.

Financially, the company reported revenue of Rs 137.37 crore and profit after tax of Rs 16.22 crore in FY25. For the nine months ended December 2025, it posted revenue of Rs 105.05 crore and profit after tax of Rs 14.18 crore.

The company cited its experienced management team, diversified project portfolio, global presence and strong order book as key strengths.

Finshore Management Services is the book-running lead manager to the issue, while Integrated Registry Management Services is the registrar. Anant Securities will act as the market maker.

The allotment is expected to be finalised on June 22, with refunds and credit of shares likely on June 23. The stock is scheduled to make its market debut on June 24.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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