Source: Entrackr
Mumbai, Logistics startup Leap India, which is supported by global investment firm KKR, has converted its status to a public company, indicating it may consider making an initial public offering (IPO) soon.
According to documents with the Registrar of Companies (RoC), the company’s board has resolved to change its name from Leap India Private Limited to Leap India Limited.
IPO Plans Possibly Return
Leap India, which had previously planned to raise ₹1,000 crore in an IPO in 2022, was sidelined when KKR took a controlling stake in the business in 2023; now that the company will be going public, this move opens the door for IPO plans to be revived in the near future, though no official announcement has been made.
Two Independent Directors Appointed
Leap India has appointed two independent directors to its board, Harinarayanan Nair, and Sanjiv Gupta as part of its obligations as a public company.
Nair has more than 30 years of experience working in logistics, and manufacturing with companies such as Wipro Pari, Signode, and ITW India. Gupta is the Founder and Chairman of Bluwheelz and has held senior positions at Coca-Cola and SpiceJet.
Their experience will help Leap India strengthen its leadership and governance as the company grows.
Leap India
Leap India was started in 2013 by Sunu Mathew which provides supply chain and logistics services such as equipment pooling, packaging, transportation and inventory management, repair and maintenance. The company works with a wide range of industries such as e-commerce, consumer products, beverages and automotive.
Funding and Valuation
Based on startup data platform TheKredible, Leap India has raised approximately $180 million to date, including a round of $63 million in December 2024 with KKR as the lead investor, and also including Sixth Sense Ventures, FirstBridge India and others. They have a valuation for Leap India of approximately $600 million for that round.
KKR owns 78.64 % of Leap, and therefore is the largest shareholder.
Recent Acquisitions and Strong Financial Growth
In January 2025, Leap India acquired CHEP India Private Limited (CIPL), a supply chain company. The deal included CIPL’s assets, customers, and employees, which will ultimately help Leap India grow its reach and services.
On a financial basis, the company did really well. For the financial year ended in March 24, revenue was up 44% to ₹365 crore compared to ₹253 crore last year. Profit increased four times to ₹37 crore, and reflected rapid growth.
