Leapfrog Engineering Services launched its initial public offering (IPO) on June 17, aiming to raise ₹88.51 crore. The SME IPO features a price band of ₹21-23 per share and closes today, June 19. The company plans to list its shares on June 24, with the grey market premium currently at ₹0, indicating muted investor sentiment, according to livemint.com.
The IPO comprises a mix of fresh shares and an offer for sale (OFS). Specifically, the fresh issue includes 3.46 crore shares aggregating to ₹79.60 crore. Investors have until the end of the day to subscribe, with the company targeting capital infusion through this combined issuance. The subscription process began on June 17 and has spanned three days, as detailed by livemint.com.
This IPO comes amid a cautious market environment for SME listings, with Leapfrog Engineering Services seeking to capitalize on investor interest in the engineering sector. The ₹88.51 crore target places it among notable SME IPOs this year, reflecting the company's growth ambitions and the broader trend of SMEs accessing public markets for expansion. The muted grey market premium suggests tempered enthusiasm compared to more aggressively priced offerings, per livemint.com.
The company’s shares are scheduled to debut on the stock exchange on June 24. The final subscription figures and listing price will provide further clarity on market reception and investor appetite for SME IPOs in the current cycle, as reported by livemint.com.