Leapfrog Engineering Services Limited SME IPO: High GMP or Risky Bet? Full Details

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Leapfrog Engineering Services Limited IPO
Integrated Engineering · EPCC Solutions · Industrial Automation · Fire Protection
📋 SME IPO Fresh + OFS BSE SME
₹23
Upper Price
₹88.51 Cr
Issue Size
Apr 30, 2026
Listing Date
TBD
Market Cap
📅 IPO Timetable
All dates tentative
🔓
IPO Opens
Thursday, 23 April 2026
Bidding starts — apply before close
🔒
IPO Closes
Monday, 27 April 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Tuesday, 28 April 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Wednesday, 29 April 2026
Unallotted funds returned; shares credited to demat
🏷️
Thursday, 30 April 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date23 April 2026 (Thu)
IPO Close Date27 April 2026 (Mon)
Listing Date30 April 2026 (Thu)
Face Value₹1 per share
Price Band₹21 to ₹23
Issue Price (Upper Band)₹23 per share
Issue TypeBook Build — Fresh + OFS
Lot Size6,000 shares
Total Issue Size3,84,84,000 shares (₹88.51 Cr)
Fresh Issue3,46,08,000 shares (₹79.60 Cr)
Offer for Sale (OFS)38,76,000 shares (₹8.91 Cr)
Market Maker Shares19,26,000 shares
Pre-Issue Shares10,71,84,000
Post-Issue Shares14,17,92,000
Promoter Holding (Pre)92.59%
Listing ExchangeBSE SME
Lead ManagerFinshore Management Services Ltd.
RegistrarIntegrated Registry Management
💰 Lot Size & Minimum Investment
At upper price ₹23
Investor TypeLotsSharesAmount
Retail — Minimum & Maximum212,000₹2,76,000
S-HNI (sNII) — Min318,000₹4,14,000
S-HNI (sNII) — Max742,000₹9,66,000
B-HNI (bNII) — Min848,000₹11,04,000
⚠️ SME IPO Note: Minimum bid for retail is 2 lots (12,000 shares = ₹2,76,000). Retail maximum application is also 2 lots. Lot size is 6,000 shares.
👥 Investor Reservation
Total 3,84,84,000 shares
QIB
18,24,000 shares
Allocated portion
50.06%
Retail (RII)
1,83,00,000 shares
44.95%
NII / HNI
1,64,34,000 shares
💡 Market Maker: Anant Securities has been allocated 19,26,000 shares (5.00% of issue) to ensure liquidity post-listing.
📊 Subscription Status
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📈 Company Financials
Restated · ₹ Crore
MetricDec 2025 (9M)FY 2024–25FY 2023–24FY 2022–23
Total Assets156.04149.1751.1166.45
Total Income105.05137.37162.88105.38
PAT14.1816.2216.390.28
Net Worth67.4453.2621.715.32
Reserves & Surplus56.7242.5421.234.84
Total Borrowing32.2220.1113.7813.05
Income Growth
FY 2022–23₹105.38 Cr
FY 2023–24₹162.88 Cr
FY 2024–25₹137.37 Cr
9M FY26 (Apr–Dec 2025)₹105.05 Cr
🎯 Key Performance Indicators
30.47%
ROE
FY 2024–25
32.45%
ROCE
FY 2024–25
12.05%
PAT Margin
FY 2024–25
0.38
Debt/Equity
FY 2024–25
21.03%
ROE (9M FY26)
Dec 31, 2025
23.98%
ROCE (9M FY26)
Dec 31, 2025
14.04%
PAT Margin (9M)
Dec 31, 2025
3.66x
Price/Book
Dec 31, 2025
⚖️ Valuation & EPS
Price Band
₹21 – ₹23
Upper Band Price ₹23
Market Cap
₹326 Cr
At upper band (approximate)
ℹ️ Leapfrog Engineering Services Limited reports strong profitability and order book. Post-IPO EPS and valuation will be determined based on post-issue shares (14,17,92,000) and current annualized earnings.
🎯 Objects of the Issue
Net proceeds utilisation
1
Funding Capital Expenditure towards setting up Assembling Unit
₹27.00 Cr
2
Funding the Working Capital Requirements of the Company
₹36.05 Cr
3
General Corporate Purposes and Issue Related Expenses
Balance
Total Strategic Objects ₹63.05 Cr
🏢 About Leapfrog Engineering Services Limited
Est. 2005 · Bangalore, Karnataka · Integrated EPCC Services

Incorporated in 2005, Leapfrog Engineering Services Limited is a specialist in integrated Engineering Services and EPCC (Engineering, Procurement, Construction, and Commissioning) solutions. The company serves high-stakes sectors such as Oil & Gas, Food Processing, Pharmaceuticals, and Metals, providing end-to-end design and build services.

Their service range includes turnkey electrical solutions, instrumentation & industrial automation, comprehensive fire safety systems, and building automation (HVAC, CCTV, sensors). With a strong workforce of 112 payroll employees and a significant global presence, Leapfrog has built a reputation for high-quality execution and timely project completion since its inception.

Service Verticals
⚡
Electrical EPC
Turnkey MV/LV switchgear and electrical infrastructure solutions
⚙️
Automation
PLC/DCS upgrades, industrial robotics, and instrumentation systems
🚒
Fire Protection
Design and maintenance of advanced fire alarm and suppression systems
🏢
Building Controls
HVAC controls, access systems, and video surveillance automation
Competitive Strengths
💼Proven track record of timely execution in diverse EPCC projects since 2005
📖Strong Order Book reflecting multi-industry expertise in regulated sectors
🌐Diversified portfolio and significant global presence across market segments
👨‍💼Experienced management team with decades of EPC engineering background
Company Promoters
PN
Mr. Prabhav Narasimha Rao
Promoter, Leapfrog Engineering Services Limited
PP
Mrs. Priyashaila Prabhav Rao
Promoter, Leapfrog Engineering Services Limited
📅 Key Dates
IPO Opens23 Apr 2026
IPO Closes27 Apr 2026
Allotment28 Apr 2026
Refund & Share Credit29 Apr 2026
Listing Day30 Apr 2026
💡 Quick Summary
Price Band₹21 – ₹23
Issue Price₹23 / share
Lot Size6,000 shares
Min. Investment (Retail)₹2,76,000 (2 lots)
Issue Size₹88.51 Cr
ListingBSE SME
🏦 Registrar & Lead Manager
Registrar
Integrated Registry Management
📞 044 – 28140801 to 03
[email protected]
Lead Manager
Finshore Management Services Ltd.
Market Maker
Anant Securities
📍 Registered Address
Leapfrog Engineering Services Ltd.
No 496, Chaithanya Dhriti Rudresh,
Vijaya Bank Layout, Bannerghatta Road,
Bangalore, Karnataka — 560076
📞 +91 78994 81340
[email protected]
🛡️ Regulatory Note: SME IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the Leapfrog Engineering IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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