LEAP India Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, as per SEBI regulations. The report, prepared by India Ratings & Research Private Limited, confirms no deviation from the objects of the Initial Public Offer. The utilization of IPO proceeds has been reviewed by the Audit Committee and taken on record by the Board of Directors.
LEAP India Limited Files Monitoring Agency Report
LEAP India Limited has officially submitted its Monitoring Agency Report for the third quarter of the financial year 2026, covering the period up to September 30, 2026. This disclosure is made in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Report Highlights and Compliance
The report, prepared by India Ratings & Research Private Limited, details the utilization of funds raised through the Company’s Initial Public Offer (IPO). A key finding from the report is that there has been no deviation from the objects as outlined in the Offer Document. This assessment is based on information provided by the issuer and verified through various certifications.
Audit Committee and Board Review
The Monitoring Agency Report underwent a thorough review by the Audit Committee of LEAP India Limited. Subsequently, it was formally taken on record by the Board of Directors during their respective meetings held on October 26, 2026. The company has also confirmed that this disclosure will be made available on its official website, https://leapindia.net.
Details of IPO and Fund Utilization
The IPO was conducted from August 7 to August 11, 2026, with an anchor issue date of August 6, 2026. The total issue size aggregated to INR 24,800 Mn, comprising a fresh issue of INR 4,800 Mn and an offer for sale of INR 20,000 Mn. The total proceeds from the IPO amounted to INR 4,800 Mn.
As of September 30, 2026, the primary utilization of these funds was for:
- Repayment / prepayment of certain borrowings: INR 3,596.10 Mn utilized out of INR 3,600.00 Mn allocated.
- General Corporate Purposes: INR 316.04 Mn utilized out of INR 982.86 Mn allocated.
- Issue Related Expenses: INR 83.64 Mn utilized out of INR 217.14 Mn allocated.
The total utilized amount as of the quarter end was INR 3,995.78 Mn, leaving an unutilized amount of INR 804.22 Mn.
Deployment of Unutilized IPO Proceeds
The unutilized IPO proceeds were primarily deployed in short-term instruments, including Fixed Deposits with HSBC (totaling INR 600.00 Mn), a balance in a monitoring account with HSBC Bank (INR 31.64 Mn), and funds lying in an Escrow account with ICICI Bank (INR 172.58 Mn). These deployments are expected to yield an annual return of 5%.
Implementation of Objects
Regarding the implementation of the objects, the repayment/prepayment of borrowings is on track, with a completion date set for Fiscal 2027. Similarly, General Corporate Purposes are also ongoing, with the same target completion date.
Source: BSE
