About Leapfrog Engineering Services IPO
Leapfrog Engineering Services IPO Details
Leapfrog Engineering Services IPO is a 100% book-built issue of up to ₹89 crore, comprising a fresh issue of 3.46 crore equity shares worth up to ₹79.60 crore and an offer for sale (OFS) of 38.88 lakh equity shares worth up to ₹8.91 crore, with a face value of ₹1 per share. The company filed its DRHP with SEBI on February 4, 2025.
The price band is set at ₹21 to ₹23 per share and the lot size for an application is 6,000 shares. The IPO will open for subscription from June 17 to 19, 2026 on the BSE SME platforms, with a tentative listing date fixed as June 24, 2026. The book-running lead manager for this issue is Finshore Management Services Ltd., while the registrar to the issue is Integrated Registry Management Services Private Ltd.
Leapfrog Engineering Services IPO Date & Timeline
The Leapfrog Engineering Services IPO is officially set to open for subscription on Jun 17, 2026 and will close on Jun 19, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on February 4, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window allotment is expected on Jun 22, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on Jun 23, 2026. Finally, Leapfrog Engineering Services Ltd.'s shares are tentatively scheduled to list on the stock exchanges on Jun 24, 2026.
Leapfrog Engineering Services IPO Timeline
| IPO Open Date | Wed, Jun 17, 2026 |
| IPO Close Date | Fri, Jun 19, 2026 |
| Tentative Allotment | Mon, Jun 22, 2026 |
| Initiation of Refunds | Tue, Jun 23, 2026 |
| Credit of Shares to Demat | Tue, Jun 23, 2026 |
| Tentative Listing Date | Wed, Jun 24, 2026 |
| Cut-off time for UPI mandate confirmation | - |
Leapfrog Engineering Services IPO Details
| Detail | Description |
|---|---|
| IPO Date | 17 to 19 Jun, 2026 |
| Listing Date | 24 Jun, 2026 |
| Face Value | ₹ 1 per share |
| Issue Price Band | ₹ 21 to ₹ 23 |
| Lot Size | 6,000 Shares |
| IPO Type | Fresh capital cum OFS |
| Total Issue Size | 3,84,84,000 shares (agg. up to ₹ 89 Cr) |
| Reserved for Market Maker | 19,26,000 shares (agg. up to ₹ 4 Cr) Anant Securities |
| Fresh Issue(Ex Market Maker) | 3,26,82,000 shares (agg. up to ₹ 75 Cr) |
| Offer for Sale | 38,76,000 shares of ₹1 (agg. up to ₹ 9 Cr) |
| Net Offered to Public | 3,65,58,000 shares (agg. up to ₹ 84 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 10,71,84,000 shares |
| Share Holding Post Issue | 14,17,92,000 shares |
Leapfrog Engineering Services IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Leapfrog Engineering Services IPO GMP is currently trading at ₹0, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹23, which is 0.00% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Leapfrog Engineering Services GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 20 Jun 2026 | ₹23.00 | ₹0 | 20 Jun, 202612:02 PM |
| 19 Jun, 2026 | ₹23.00 | ₹0 | 19 Jun, 202610:39 AM |
| 18 Jun, 2026 | ₹23.00 | ₹0 | 18 Jun, 202610:39 AM |
| 17 Jun, 2026 | ₹23.00 | ₹0 | 17 Jun, 202610:39 AM |
| 16 Jun, 2026 | ₹23.00 | ₹0 | 16 Jun, 202610:39 AM |
| 15 Jun, 2026 | ₹23.00 | ₹0 | 15 Jun, 202610:39 AM |
| 14 Jun, 2026 | ₹23.00 | ₹0 | 14 Jun, 202610:39 AM |
| 13 Jun, 2026 | ₹23.00 | ₹0 | 13 Jun, 202610:39 AM |
| 12 Jun, 2026 | ₹23.00 | ₹0 | 12 Jun, 202610:44 AM |
| 11 Jun, 2026 | ₹23.00 | ₹0 | 11 Jun, 202610:39 AM |
Company Background
Leapfrog Engineering Services Ltd. was incorporated as a private limited company, with the name of “Leapfrog Informatics Pvt. Ltd.” on May 9, 2005, in Bengaluru, Karnataka. In January 2009, the company changed its name into “Leapfrog Engineering Services Pvt. Ltd.” and then in 2024, the company converted into a public limited company to proceed with its public listing procedure.
The firm has evolved from operating in a single domain to becoming a multi-disciplinary engineering company, as an integrated engineering services company that offers EPCC solutions to various industries, such as the oil and gas industries and the food industries, among others. With 2+ decades of operations, the firm stands out in electrical works, instrumentation, automation, fire protection and project management, among others.
Operations & Product Range
Leapfrog Engineering Services Ltd. is mainly involved in providing EPCC services, which include electrical, instrumentation, fire protection, modular substation, and automation systems engineering. This firm provides services to various industries, including Oil and Gas, Food Processing, Pharmaceuticals, and Metals, among others. The variety of engineering services this company provides makes it an all-encompassing service provider in the industry.
Facilities & Capacity
Leapfrog Engineering Services Ltd. manages its engineering projects through its corporate and registered office in Bengaluru. To support the growing contract pipeline, the company plans to establish a dedicated assembling unit in Bengaluru. This new facility, located at Akshya Nagar, is intended to help the company scale its operations and bring more engineering processes in-house.
Brands & Market Presence
Leapfrog Engineering Services Ltd. has established itself as a versatile service provider with a footprint that extends across several Indian states and multiple international locations. The company focuses on building long-term relationships with large industrial clients in the manufacturing and process industries. This extensive geographical reach, combined with our extensive spectrum of services, enables them to address complex engineering challenges with precision and efficiency.
Revenue Streams & Business Model
The primary revenue source of Leapfrog Engineering Services Ltd. is from EPC contracts (Engineering, Procurement, and Construction). During FY24, the company generated an operating income of ₹15,785.42 lakhs, having an EBITDA margin of 12.50%, the highest margin compared to the last few financial years. Overall, the company makes a major part of its buying and working activities in Karnataka and Maharashtra and it also caters to the needs of overseas clients.
Management & Shareholding
Leapfrog Engineering Services Ltd. is led by its promoters, Mr. Prabhav Narasimha Rao and Mrs. Priyashaila Prabhav Rao. The promoters of the company collectively held 86.99% of the ownership stake, while the promoter group held 5.60% of the stake; collectively, they hold 92.59% of the ownership stake. But, after the IPO, the promoters and promoter group’s stakeholding will dilute, as this issue offers an offer for sale of 38.88 lakh equity shares to give a smooth exit to existing shareholders.
Board & Key Management
The board members of Leapfrog Engineering Services Ltd. include the Managing Director, Mr. Prabhav Narasimha Rao, and the Whole-Time Director, Mrs. Priyashaila Prabhav Rao, both of whom are the most stakeholding promoters of the company. The senior management is strengthened by professionals such as Mr. Bhaskar Shenoy, who is the CTO (Chief Technical Officer) in charge of automation, having more than 34 years of experience in engineering. Additionally, the firm has appointed a Company Secretary, Ms. Sneha Hegde, and the CFO (Chief Financial Officer), Mrs. Sapna Raghvendra, to handle the firm’s regulatory and financial
Leapfrog Engineering Services IPO Financial Information
Latest Revenue
101.01
₹ Crore
Profit After Tax
14.18
₹ Crore
Net Worth
67.44
₹ Crore
Total Borrowing
32.22
₹ Crore
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2025 | 156.04 | 101.01 | 14.18 | 67.44 | 56.72 | 32.22 | |||
| 31 Mar 2025 | 149.17 | 134.66 | 16.22 | 53.26 | 42.54 | 20.11 | |||
| 31 Mar 2024 | 51.11 | 157.85 | 16.39 | 21.71 | 21.23 | 13.78 | |||
| 31 Mar 2023 | 66.45 | 104.17 | 0.28 | 5.32 | 4.84 | 13.05 | |||
| Amount in ₹ Crore | |||||||||
Leapfrog Engineering Services Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 21.03% |
| ROCE | 23.98% |
| Debt/Equity | 0.48 |
| RoNW | 21.03% |
| PAT Margin | 14.04% |
| EBITDA Margin | 19.98% |
| Price to Book Value | 3.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.51 | 1.33 |
| P/E (x) | 15.19 | 17.24 |
Leapfrog Engineering Services IPO Objectives
The company intended to use the Leapfrog Engineering Services IPO proceeds for strategic purposes:
- • Funding the capital expenditure for setting up the Assembling Unit
- • Funding the working capital requirements
- • General corporate purposes
Leapfrog Engineering Services IPO Review
Leapfrog Engineering Services Ltd. holds a specialised place within the EPCC industry since it operates in the advanced technology segment that includes automation and instrumentation. The company caters to highly challenging industries like pharmaceuticals and oil and gas, wherein precision engineering is essential. The main objective of the company is to establish a process assembly facility in order to streamline the supply chain management of the company.
From a financial perspective, the company has shown substantial growth, as in FY24, the EBITDA margin was reported at 12.50%, while in Q3 FY25, it increased to 19.56%. Also, the PAT margin in FY24 is 10.38%, while in Q3 FY25, it increased to 13.91%.
Overall, the Leapfrog Engineering Services IPO review highlights a company that is transitioning from a private, promoter-driven entity to a public-market participant. The success of the business moving forward will likely depend on its ability to manage large-scale international contracts and the successful operationalisation of its proposed assembling facility. Investors will need to weigh these growth prospects against the competitive landscape of the engineering industry.
Conclusion
Leapfrog Engineering Services IPO offers an opportunity to investors to invest in a company that has a strong foundation in the industrial engineering space. With its diversified sector exposure and nearly two decades (20+ years) of experience, Leapfrog is positioning itself to capture the ongoing capital expenditure cycle in India’s manufacturing sector. This issue mainly aims to fund the capital expenditure of assembling unit and strengthening the balance sheet of the company.
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Competitive Strengths
Led by promoters who have over 30 years of experience in managing complicated projects and engineering.
Well-established across key industries such as Pharma, Oil & Gas, and Food Processing.
Competence in offering all-round EPCC solutions covering everything from designing to automation and commissioning.
Over nearly two decades in business, with an ability to grow revenues exponentially.
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IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 12000 | 276000 |
| Individual investors (Retail) (Max) | 2 | 12000 | 276000 |
| S-HNI (Min) | 3 | 18000 | 414000 |
| S-HNI (Max) | 7 | 42000 | 966000 |
| B-HNI (Min) | 8 | 48000 | 1104000 |