Leapfrog Engineering IPO was the SME public issue of Leapfrog Engineering Services Limited, a company engaged in providing engineering, procurement, construction, and commissioning (EPCC) services.
The company provides integrated engineering solutions including electrical systems, instrumentation, automation, fire safety solutions, and modular substation systems. It serves industrial customers by offering project execution services from engineering design to installation and commissioning.
Leapfrog Engineering operates in the engineering services sector, where project execution capabilities, technical expertise, quality standards, and timely completion play an important role. The company focuses on providing customized solutions according to project requirements.
The growth of industrial infrastructure, manufacturing activities, and modernization requirements creates opportunities for engineering service providers. However, companies in this sector face challenges such as project execution risks, competition, working capital requirements, and dependence on industrial investment cycles.
This article provides complete information about Leapfrog Engineering IPO, including IPO details, issue size, price band, subscription status, allotment status, listing performance, company overview, financial information, strengths, risks, registrar details, conclusion, and FAQs.
Leapfrog Engineering IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Leapfrog Engineering IPO |
| Company Name | Leapfrog Engineering Services Limited |
| IPO Status | Listed |
| IPO Type | Book Building Issue |
| Category | SME IPO |
| Face Value | ₹1 Per Equity Share |
| Price Band | ₹21 to ₹23 Per Share |
| Issue Price | ₹23 Per Share |
| Issue Size | ₹88.51 Crore |
| Fresh Issue | ₹79.59 Crore |
| Offer for Sale | ₹8.91 Crore |
| Total Issue Shares | 3,84,84,000 Equity Shares |
| IPO Opening Date | 17 June 2026 |
| IPO Closing Date | 19 June 2026 |
| Basis of Allotment | 22 June 2026 |
| Initiation of Refunds | 23 June 2026 |
| Credit of Shares to Demat Account | 23 June 2026 |
| Listing Date | 24 June 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 6,000 Shares |
| Minimum Investment | ₹1,38,000 |
| Registrar | Integrated Registry Management Services Private Limited |
| Lead Manager | Finshore Management Services Limited |
Leapfrog Engineering IPO Dates & Timeline
Leapfrog Engineering IPO was completed through the SME IPO process, starting with the subscription period and concluding with the listing of shares on the BSE SME platform. After the issue closed, the company completed the allotment process, processed refunds, credited shares to successful investors, and completed listing formalities.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 17 June 2026 |
| IPO Closing Date | 19 June 2026 |
| Basis of Allotment | 22 June 2026 |
| Initiation of Refunds | 23 June 2026 |
| Credit of Shares to Demat Account | 23 June 2026 |
| Listing Date | 24 June 2026 |
The IPO process was completed according to the SME IPO guidelines, with shares allocated based on investor applications received during the subscription period.
Leapfrog Engineering IPO Reservation
The IPO followed the SME IPO allocation structure, where shares were reserved for eligible investor categories according to applicable regulations.
| Investor Category | Reservation |
|---|---|
| Retail Individual Investors (RII) | 50% of the Net Issue |
| Non-Institutional Investors (NII) | 50% of the Net Issue |
| Market Maker Portion | 4,62,000 Equity Shares |
| Qualified Institutional Buyers (QIB) | Not Applicable |
| Employee Reservation | Not Applicable |
The final allotment was completed after considering the applications received from different investor categories.
Leapfrog Engineering IPO Lot Size
The lot size determines the minimum number of shares investors can apply for in an SME IPO.
| Application Category | Shares | Investment Amount |
|---|---|---|
| Retail Minimum | 6,000 Shares | ₹1,38,000 |
| Retail Maximum | 6,000 Shares | ₹1,38,000 |
| HNI Minimum | 12,000 Shares | ₹2,76,000 |
The minimum investment amount was calculated based on the final issue price of ₹23 per share.
Leapfrog Engineering IPO Promoter Holding
The promoter shareholding changed after completion of the IPO due to the issue of fresh equity shares and dilution of promoter ownership.
| Shareholding | Percentage |
|---|---|
| Promoter Holding Before IPO | 99.99% |
| Promoter Holding After IPO | 73.00% |
The promoters continued to hold majority ownership after the IPO listing.
Leapfrog Engineering IPO GMP
Grey Market Premium (GMP) represents unofficial market expectations before listing. It is not an official exchange price indicator.
| Particular | Details |
|---|---|
| IPO Price | ₹23 |
| GMP Before Listing | ₹0 |
| Estimated Listing Price | ₹23 |
| Estimated Listing Gain | 0% |
After listing, the actual share price performance depends on market demand, company performance, and broader market conditions.
Leapfrog Engineering IPO Subscription Status
Leapfrog Engineering IPO received investor participation during the subscription period.
| Category | Subscription |
|---|---|
| Retail Individual Investors (RII) | 1.07x |
| Non-Institutional Investors (NII) | 1.14x |
| Total Subscription | 1.10x |
The subscription data represents the demand received from investors during the IPO bidding period.
Leapfrog Engineering IPO Allotment Status
The allotment process was completed after the IPO closing date. The registrar finalized investor allocations and completed refund and share credit procedures.
| Particular | Details |
|---|---|
| IPO Closing Date | 19 June 2026 |
| Basis of Allotment | 22 June 2026 |
| Refund Initiation | 23 June 2026 |
| Shares Credited to Demat Account | 23 June 2026 |
| Registrar | Integrated Registry Management Services Private Limited |
| Allotment Status | Completed |
Successful applicants received shares before the listing date, while unsuccessful applicants received refunds as per the IPO schedule.
Leapfrog Engineering IPO Listing Performance
Leapfrog Engineering Services Limited shares were listed on the BSE SME platform on 24 June 2026.
| Particular | Details |
|---|---|
| IPO Issue Price | ₹23 |
| Listing Price | ₹23 |
| Listing Gain | ₹0 Per Share |
| Listing Gain Percentage | 0% |
| Listing Day Closing Price | ₹23 |
| Listing Day Return | 0% |
The shares opened at the issue price, resulting in a flat listing for IPO investors.
About Leapfrog Engineering Services Limited
Leapfrog Engineering Services Limited is engaged in providing engineering solutions and project execution services for industrial and infrastructure-related applications. The company offers services related to engineering design, procurement, installation, and commissioning activities.
The company focuses on delivering integrated engineering solutions based on customer requirements. Its operations involve planning, technical execution, project management, installation activities, testing, and commissioning of various systems.
Leapfrog Engineering serves industries where reliable engineering support and technical solutions are required. The company focuses on maintaining project quality, timely execution, and developing long-term relationships with customers.
The engineering services sector plays an important role in industrial development, infrastructure expansion, and modernization activities. Increasing investments in manufacturing, energy, automation, and industrial facilities create opportunities for engineering service providers.
However, companies operating in this segment also face challenges such as project delays, execution risks, competition, and dependence on industrial investment cycles.
Business Model of Leapfrog Engineering Services Limited
Leapfrog Engineering Services Limited follows a project-based engineering business model focused on providing technical solutions and execution services to industrial customers.
The company’s business operations include:
. Engineering Design Services – The company provides technical planning and engineering solutions according to project requirements.
. Procurement Support – The company manages procurement activities related to project execution and installation requirements.
. Project Execution Services – The company undertakes installation, testing, and commissioning activities for engineering projects.
. Industrial Solutions – The company provides engineering support for electrical, automation, instrumentation, and related industrial requirements.
. Project Management Approach – The company focuses on completing projects according to customer timelines, technical specifications, and quality standards.
Products and Services
Leapfrog Engineering Services Limited provides engineering and technical solutions for industrial and infrastructure applications.
The company’s service portfolio includes:
- Engineering design and consultancy services.
- Electrical system solutions.
- Instrumentation and automation services.
- Project installation and commissioning.
- Industrial engineering solutions.
- Fire safety and related engineering services.
The company focuses on delivering customized solutions based on the technical requirements of different projects.
Industry Overview
India’s engineering services sector supports industrial growth by providing technical expertise, project execution capabilities, and infrastructure solutions across various industries.
Engineering service providers play an important role in sectors such as:
- Manufacturing.
- Energy and power.
- Infrastructure.
- Automation.
- Industrial facilities.
- Construction projects.
Growth opportunities in the sector are supported by:
- Increasing infrastructure investment.
- Expansion of manufacturing activities.
- Industrial automation requirements.
- Modernization of existing facilities.
- Growth in engineering and construction projects.
However, the sector also faces challenges including:
- Project execution delays.
- Cost overruns.
- Dependence on industrial spending.
- Competition among service providers.
- Requirement for skilled technical professionals.
Leapfrog Engineering IPO Financial Information
Leapfrog Engineering Services Limited has reported financial performance based on its engineering service operations and project execution activities.
Statement of Assets, Liabilities and Equity
| Particulars (₹ in Crore) | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Total Assets | 57.82 | 42.63 | 31.74 |
| Total Borrowings | 12.68 | 10.42 | 8.36 |
| Total Liabilities | 28.51 | 22.36 | 17.85 |
| Share Capital | 18.40 | 12.50 | 12.50 |
| Reserves & Surplus | 10.91 | 7.77 | 1.39 |
| Net Worth | 29.31 | 20.27 | 13.89 |
The company recorded improvement in its net worth position during the reported financial period.
Statement of Profit and Loss
| Particulars (₹ in Crore) | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue from Operations | 95.62 | 78.45 | 62.18 |
| EBITDA | 12.48 | 9.76 | 7.42 |
| Profit Before Tax (PBT) | 8.24 | 6.18 | 4.37 |
| Profit After Tax (PAT) | 6.12 | 4.61 | 3.24 |
| EBITDA Margin | 13.05% | 12.44% | 11.93% |
| PAT Margin | 6.40% | 5.87% | 5.21% |
The company showed improvement in revenue and profitability during the reported years.
Leapfrog Engineering IPO Key Financial Ratios
| Financial Ratio | Value |
|---|---|
| Earnings Per Share (EPS) | ₹2.78 |
| Price to Earnings (P/E) Ratio | 8.27x |
| Return on Net Worth (RoNW) | 20.88% |
| Net Asset Value (NAV) | ₹13.34 |
| Return on Capital Employed (ROCE) | 19.65% |
| EBITDA Margin | 13.05% |
| PAT Margin | 6.40% |
| Debt-to-Equity Ratio | 0.43 |
These financial ratios provide an overview of the company’s profitability, financial position, and operational performance. Investors should evaluate these factors along with business risks and industry conditions.
Objects of the Issue
The funds raised through Leapfrog Engineering IPO were planned to be utilized for:
- Meeting working capital requirements.
- Supporting business expansion activities.
- Strengthening operational capabilities.
- General corporate purposes.
- Meeting issue-related expenses.
The IPO proceeds were intended to provide financial support for the company’s future growth plans and operational requirements.
Leapfrog Engineering IPO Strengths
Leapfrog Engineering Services Limited operates in the engineering services sector and provides technical solutions for industrial and infrastructure-related projects. The company’s industry presence, technical capabilities, and demand opportunities create potential growth areas.
. Presence in Engineering Services Sector – The company operates in a sector that supports industrial development, infrastructure projects, and modernization activities.
. Integrated Engineering Solutions – The company provides multiple services including engineering design, procurement support, installation, and commissioning, allowing it to manage different stages of project execution.
. Growing Industrial Infrastructure Demand – Expansion of manufacturing facilities, infrastructure projects, and industrial automation requirements can create demand for engineering service providers.
. Technical Expertise and Project Execution Capability – The company’s experience in handling engineering projects supports its ability to provide customized solutions to customers.
. Diversified Application Areas – Engineering solutions are required across multiple sectors including manufacturing, energy, infrastructure, and industrial facilities.
. Opportunity from Industrial Growth – Increasing investments in industrial development and modernization provide long-term growth opportunities for engineering companies.
Leapfrog Engineering IPO Risk Factors
Investors should carefully evaluate the following risks before investing in Leapfrog Engineering Services Limited.
. Project Execution Risk – Engineering projects may face delays due to technical issues, supply challenges, approval delays, or other execution-related factors.
. Dependence on Industrial Investment Cycle – The company’s growth depends on demand from industries and infrastructure projects. A slowdown in investment activity may affect business performance.
. Competition Risk – The engineering services sector has competition from established companies and other service providers, which may impact margins.
. Working Capital Requirement Risk – Project-based businesses require significant working capital for execution, procurement, and operational activities.
. Skilled Workforce Dependency – Engineering services require qualified technical professionals. Difficulty in retaining skilled employees may impact operations.
. Cost Escalation Risk – Increases in material costs, labour expenses, or project execution costs may affect profitability.
Leapfrog Engineering IPO Registrar Details
The registrar manages IPO-related activities including processing applications, finalizing allotment, handling refunds, crediting shares, and resolving investor queries.
| Particular | Details |
|---|---|
| Registrar Name | Integrated Registry Management Services Private Limited |
| Website | https://www.integratedregistry.in/ |
| Email ID | [email protected] |
| Contact Number | +91-44-2814 0801 / +91-44-2814 0803 |
Leapfrog Engineering IPO Conclusion
Leapfrog Engineering IPO provided investors an opportunity to participate in a company operating in the engineering services sector. The company benefits from the increasing requirement for technical solutions, industrial development, and infrastructure-related engineering activities.
The company’s integrated service approach, project execution capabilities, and presence across different industrial applications provide opportunities for future growth. Expansion in manufacturing, automation, and infrastructure sectors may support demand for engineering service providers.
However, investors should consider key challenges such as project execution risks, competition, working capital requirements, dependence on industrial investments, and cost fluctuations before making investment decisions.
A detailed evaluation of the company’s financial performance, valuation, business model, industry position, and future growth strategy is important before considering the stock.
Leapfrog Engineering IPO FAQs
What is Leapfrog Engineering IPO?
Leapfrog Engineering IPO was the SME public issue of Leapfrog Engineering Services Limited, a company providing engineering, procurement, installation, and commissioning services.
What is Leapfrog Engineering IPO?
Leapfrog Engineering IPO was the SME public issue of Leapfrog Engineering Services Limited, a company providing engineering, procurement, installation, and commissioning services.
What was the price band of Leapfrog Engineering IPO?
The price band of Leapfrog Engineering IPO was ₹21 to ₹23 per equity share.
What was the issue price of Leapfrog Engineering IPO?
The final issue price of Leapfrog Engineering IPO was ₹23 per equity share.
What was the issue size of Leapfrog Engineering IPO?
The total issue size of Leapfrog Engineering IPO was ₹88.51 crore.
What was the lot size of Leapfrog Engineering IPO?
The lot size of Leapfrog Engineering IPO was 6,000 shares.
When was Leapfrog Engineering IPO listed?
Leapfrog Engineering Services Limited shares were listed on the BSE SME platform on 24 June 2026.
What was the listing price of Leapfrog Engineering IPO?
The shares were listed at ₹23 per share, equal to the issue price.
Who was the registrar of Leapfrog Engineering IPO?
The registrar of Leapfrog Engineering IPO was Integrated Registry Management Services Private Limited.
What were the objectives of Leapfrog Engineering IPO?
The IPO proceeds were planned to be used for working capital requirements, business expansion, general corporate purposes, and issue-related expenses.
