Leapfrog Engineering Services IPO: Price Band, GMP, and Key Details

Leapfrog Engineering Services is set to launch its ₹88.5 crore Initial Public Offering (IPO) on the BSE SME platform this Wednesday. Investors looking to participate in this engineering solutions provider can subscribe to the issue until June 19, with the listing expected on June 24.

IPO Structure and Price Band Details

The Leapfrog Engineering Services IPO is composed of a fresh issue of 3.46 crore shares worth ₹79.6 crore and an Offer for Sale (OFS) of 38.76 lakh shares valued at ₹8.91 crore. The company has established a price band of ₹21 to ₹23 per share.

For retail investors, the minimum investment required at the upper price band is ₹2.76 lakh, which corresponds to a minimum bid of 12,000 shares. High-net-worth individuals (HNIs) looking to bid for three lots will need a minimum investment of ₹4.14 lakh. The issue is structured with a significant allocation to retail investors, who are slated to receive 60.07% of the net issue, while non-institutional investors will be allotted 38.9%. Qualified Institutional Buyers (QIBs) are allocated just over 1% of the offering.

Business Profile and Growth Strategy

Established in 2005, Leapfrog Engineering Services has carved a niche in providing integrated engineering, procurement, and construction (EPCC) solutions. Their expertise spans critical sectors including oil and gas, pharmaceuticals, food processing, and metals. The company’s service suite is comprehensive, covering industrial automation, electrical engineering, instrumentation, fire protection, and building automation.

The company intends to use the capital raised through the IPO to fuel its next phase of growth. Specifically, ₹27 crore is earmarked for the establishment of a new assembling unit, while ₹36.05 crore will be directed toward meeting working capital requirements. The remaining funds will be utilized for general corporate purposes.

Financial Performance and Market Outlook

Leapfrog Engineering demonstrates a robust financial trajectory. In FY25, the company reported a revenue of ₹137.37 crore and a profit after tax (PAT) of ₹16.22 crore. This momentum is reflected in its recent nine-month performance (ending December 2025), where it posted a revenue of ₹105.05 crore and a PAT of ₹14.18 crore.

Chociaż spółka utrzymuje silny portfel zamówień i zróżnicowaną obecność na rynkach globalnych, inwestorzy powinni zauważyć, że premia na szarym rynku (GMP) wynosi obecnie zero. Wskazuje to na to, że obecnie nie ma znaczących nieoficjalnych oczekiwań co do zysków z debiutu.

Proces przydziału ma zostać zakończony 22 czerwca, a zwroty środków i zaksięgowanie akcji spodziewane są do 23 czerwca. Finshore Management Services zarządza emisją jako główny menedżer prowadzący księgę popytu.

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