Logistic solution Startup 'Leap India' secures $63 million
Startup company Leap India, which provides logistical solutions, is raising Rs. 535 crore (roughly $63 million) from companies like Madhurima International, FirstBridge India, Sixth Sense, and others. The Mumbai-based company is making its first investment round of the year with this investment.
According to Leap India's regulatory filing, which can be accessed through the Registrar of Companies (RoC), the board approved a special resolution to issue 1,16,25,000 preference shares and 17,50,000 equity shares at an issue price of Rs. 400 each in order to raise Rs. 535 crore.
With an initial investment of Rs. 333 crore, private equity firm KKR (via Vertical Holding) will lead the round. Sixth Sense, First Bridge, and Madhurima International will contribute Rs. 70 crores, Rs. 60 crores, and Rs. 50 crore, in that order. The remainder will be invested by Niveshaay Sambhav Fund and private investors, such as Madhu Sudhir Jain and Rakesh Shah.
The filing also stated that the additional funds will be used to fund the firm's general corporate requirements as well as business operations.
As per the filing, KKR is expected to hold approximately 78.64% of the shares in Leap India, with Sixth Sense, First Bridge, and Madhurima International holding 1.38%, 1.19%, and 0.99% of the shares, respectively.
Offering services like equipment pooling, packing, inventory management, transportation, and repair and maintenance, Leap India is an expert in supply chain solutions. E-commerce, consumer durables, beverages, and automotive are some of its target industries.
The previous fiscal year's annual statements have not yet been posted by the company. The company's scale increased by 20% year over year to Rs. 257 crores during FY23, and it made Rs. 9 crore in profit during that time.
According to Leap India's regulatory filing, which can be accessed through the Registrar of Companies (RoC), the board approved a special resolution to issue 1,16,25,000 preference shares and 17,50,000 equity shares at an issue price of Rs. 400 each in order to raise Rs. 535 crore.
With an initial investment of Rs. 333 crore, private equity firm KKR (via Vertical Holding) will lead the round. Sixth Sense, First Bridge, and Madhurima International will contribute Rs. 70 crores, Rs. 60 crores, and Rs. 50 crore, in that order. The remainder will be invested by Niveshaay Sambhav Fund and private investors, such as Madhu Sudhir Jain and Rakesh Shah.
The filing also stated that the additional funds will be used to fund the firm's general corporate requirements as well as business operations.
As per the filing, KKR is expected to hold approximately 78.64% of the shares in Leap India, with Sixth Sense, First Bridge, and Madhurima International holding 1.38%, 1.19%, and 0.99% of the shares, respectively.
Offering services like equipment pooling, packing, inventory management, transportation, and repair and maintenance, Leap India is an expert in supply chain solutions. E-commerce, consumer durables, beverages, and automotive are some of its target industries.
The previous fiscal year's annual statements have not yet been posted by the company. The company's scale increased by 20% year over year to Rs. 257 crores during FY23, and it made Rs. 9 crore in profit during that time.
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