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LEAP India and Molbio Diagnostics IPO Approval

Logistics solutions company LEAP India and Molbio Diagnostics, based in Goa, have received the green light from the Securities and Exchange Board of India (SEBI) for their initial public offerings (IPOs). The recent observations from the regulator signify an important step for both firms as they get ready to enter the public market.

LEAP India Plans for Initial Public Offering

The approvals arrive months after LEAP India submitted its draft red herring prospectus (DRHP) with aims to raise up to Rs 2,400 crore. This offer includes a fresh issuance of Rs 400 crore and a sale of shares worth Rs 2,000 crore. The sale will be primarily led by Vertical Holdings II Pte. Ltd., an entity related to the promoter and supported by the global investment company KKR, which intends to sell shares valued at Rs 1,998.6 crore. Additionally, another promoter group entity, KIA EBT Scheme 3, plans to offload shares worth approximately Rs 13.8 crore.

Transition to Public Limited Company

Prior to its public debut, the company transitioned into a public limited entity in July 2025, appointing independent directors to enhance its governance, as initially reported by Startup Superb. LEAP India offers pallet, container, and asset-pooling solutions to major FMCG, e-commerce, and pharmaceutical firms. The company is expanding its fulfilment centres and customer touchpoints to meet the growing demand for structured supply-chain infrastructures. In FY25, LEAP India experienced a 28% increase in revenue year-on-year, reaching Rs 466 crore, while maintaining a profit after tax (PAT) of Rs 37.5 crore due to improved asset utilisation.

Molbio Diagnostics IPO Proposal

In August 2025, Molbio Diagnostics filed its DRHP with plans for a fresh issue of Rs 200 crore alongside an offer for sale of up to 1.25 crore shares. The selling shareholders include Exxora Trading LLP, Dr Chandrasekhar Bhaskaran Nair, and Abdul Qadir Mohamed Theruvath, among others. Molbio is recognised for its Truenat point-of-care molecular testing platform, which is utilised for testing TB, HPV, COVID-19, and various infectious diseases. The company aims to direct the proceeds from the IPO towards enhancing its manufacturing capabilities and expanding R&D infrastructure.

Financial Performance

In FY25, Molbio Diagnostics recorded revenues amounting to Rs 1,020 crore and a profit of Rs 138.5 crore, signalling a robust demand for decentralised diagnostic solutions within India and emerging regions.

Recent IPO Approvals by SEBI

Over the last two months, SEBI has authorised IPO plans from a variety of new-age firms, including enterprise AI provider Fractal, cloud-native media SaaS platform Amagi, e-commerce entity Acevector, logistics start-up Shiprocket, food tech company Curefoods, and dairy leader Milky Mist.



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