Ahmedabad Roadshow Highlights Leapfrog’s Growth Story Ahead of SME IPO
Leapfrog MD Prabhav Rao Charts Growth Roadmap Ahead of ₹88.51 Crore IPO
Company Details
- Company: Leapfrog Engineering Services Limited (LESL)
- Headquarters: Bengaluru
- Business: Integrated Engineering, Procurement, Construction and Commissioning (EPCC) solutions provider
- IPO Size: ₹88.51 crore
- Issue Opens: June 17, 2026
- Issue Closes: June 19, 2026
- Proposed Listing: BSE SME Platform
Key Financial Highlights (FY25)
- Revenue from Operations: ₹134.66 crore
- EBITDA: ₹21.57 crore
- Profit After Tax (PAT): ₹16.22 crore
- EBITDA Margin: 16.01%
- PAT Margin: 12.05%
- RONW: 30.47%
- ROCE: 32.45%
Order Book
- Order Book as of March 31, 2026: ₹384.03 crore
IPO Structure
- Fresh Issue: 3.46 crore equity shares (₹79.60 crore)
- Offer for Sale (OFS): 38.76 lakh equity shares (₹8.91 crore)
- Price Band: ₹21–23 per share
- Post-Issue Market Capitalisation (Upper Band): ₹326.12 crore
- Promoter Holding Post Issue: 67.26%
- Public Shareholding Post Issue: 32.74%
Leapfrog Engineering Services Announces ₹88.51 Crore IPO; Issue Opens June 17
Bilkul Bazaar
Ahmedabad | 12 June 2026
Bengaluru-headquartered Leapfrog Engineering Services Limited (LESL), an integrated Engineering, Procurement, Construction and Commissioning (EPCC) solutions provider, has announced the launch of its Initial Public Offering (IPO) worth ₹88.51 crore. The issue will open for subscription on June 17 and close on June 19, with the company’s shares proposed to be listed on the BSE SME Platform.
Senior company executives and issue advisors interacted with media representatives in Ahmedabad on Thursday, outlining the company’s growth roadmap, financial performance and future expansion plans. Present at the interaction were Gopal Krishna Hegde, Financial Advisor; Prabhav Rao, Managing Director, Leapfrog Engineering Services Limited; Sapna Raghuvendra, Director (Finance); Lakshman S. Iyengar, Mentor; and Ramakrishna S. Iyengar, Director, Finshore Management Services Limited, the Book Running Lead Manager to the issue.
The IPO comprises a fresh issue of 3.46 crore equity shares aggregating up to ₹79.60 crore and an Offer for Sale (OFS) of 38.76 lakh equity shares aggregating up to ₹8.91 crore. The price band has been fixed at ₹21-23 per equity share, taking the total issue size to ₹88.51 crore at the upper end of the band.
Addressing the media, Prabhav Rao, Managing Director of Leapfrog Engineering Services Limited, said, “Over the last two decades, Leapfrog has built strong capabilities across electrical engineering, industrial automation, fire protection systems and modular substations. The proposed IPO marks an important milestone in our growth journey and will help us strengthen our infrastructure, enhance execution capabilities and support larger projects across industrial and infrastructure sectors.”
Highlighting the company’s financial strength, Sapna Raghuvendra, Director (Finance), said, “Our consistent focus on operational efficiency and disciplined execution has enabled us to deliver healthy margins and profitability. The IPO proceeds will support capacity expansion and working capital requirements, positioning us for sustained growth.”
According to the company, as of March 31, 2026, it had an order book of approximately ₹384.03 crore, providing strong revenue visibility for the coming years. The company serves clients across sectors including Oil & Gas, Chemicals, Fertilisers, Pharmaceuticals, Food Processing, Infrastructure and Power.
For FY25, Leapfrog Engineering Services reported revenue from operations of ₹134.66 crore, EBITDA of ₹21.57 crore and profit after tax of ₹16.22 crore. The company posted an EBITDA margin of 16.01%, PAT margin of 12.05%, Return on Net Worth (RONW) of 30.47% and Return on Capital Employed (ROCE) of 32.45%.
Gopal Krishna Hegde, Financial Advisor, noted that the engineering and industrial infrastructure sectors are witnessing strong investment momentum, creating significant opportunities for specialised EPCC companies. “Leapfrog is well-positioned to benefit from increasing investments in manufacturing, automation, energy and infrastructure projects, backed by a healthy order pipeline and proven execution capabilities,” he said.
The company plans to utilise the fresh issue proceeds primarily towards capital expenditure, including land acquisition, construction of facilities and purchase of additional plant and machinery, as well as meeting working capital requirements and general corporate purposes.
At the upper end of the price band, the post-issue implied market capitalisation of Leapfrog Engineering Services is estimated at approximately ₹326.12 crore. Following the issue, promoter and promoter group shareholding will stand at around 67.26%, while public shareholding will increase to 32.74%.