The highly anticipated Leapfrog Engineering Services IPO has opened its doors for subscription today, June 17, 2026. This ₹88.51 crore SME IPO has generated significant interest, but does the underlying business justify the hype?
In this complete review, we dive into the company's financial health, the latest Grey Market Premium (GMP) trends, and the core details you need to track your investment.
Leapfrog Engineering IPO: Key Metrics
The IPO is a mix of a fresh issue of 3.46 crore shares (₹79.60 crore) and an Offer for Sale (OFS) of 38.75 lakh shares (₹8.91 crore).
FeatureIPO DetailsBidding PeriodJune 17, 2026 – June 19, 2026Price Band₹21 to ₹23 per shareTotal Issue Size₹88.51 CroreRetail Lot Size6,000 Shares (Min. 2 lots / 12,000 shares)Listing ExchangeBSE SME
Retail and HNI Investment Limits
SME IPOs require larger capital commitments compared to mainboard listings. Here is the minimum capital required to participate:
- Retail Investors: Minimum 2 Lots (12,000 shares) = ₹2,76,000
- High Net-Worth Individuals (HNI): Minimum 3 Lots (18,000 shares) = ₹4,14,000
Financial Performance & Order Book
Leapfrog Engineering, established in 2005, operates as a comprehensive Engineering, Procurement, Construction, and Commissioning (EPCC) contractor. A major green flag for the company is its robust financial trajectory and unexecuted order book.
- Revenue Growth: The company reported a solid revenue of ₹134.66 crore for FY25.
- Profitability: Profit After Tax (PAT) stood at ₹16.22 crore for FY25, showcasing healthy operational efficiency.
- Order Pipeline: Leapfrog boasts an impressive order book exceeding ₹384 crore, with a massive chunk (over ₹327 crore) coming from lucrative export projects in Gulf markets like Kuwait and Bahrain.
The funds raised will be strategically deployed to set up a new assembly unit, significantly reducing their reliance on third-party vendors and improving future profit margins.
Live GMP and Market Sentiment
As of today, the Leapfrog Engineering IPO GMP is ₹0. While a zero premium might seem underwhelming, it's important to remember that SME GMPs can be highly illiquid and volatile on day one. A ₹0 GMP currently points to a flat listing at the ₹23 upper band price, but this figure is expected to update as the QIB and Retail subscription numbers roll in over the next 48 hours.
Tentative Allotment & Listing Timeline
Keep your portfolio trackers updated with these crucial dates:
- Basis of Allotment: Monday, June 22, 2026
- Refunds Initiated: Tuesday, June 23, 2026
- Demat Credit: Tuesday, June 23, 2026
- Listing Date: Wednesday, June 24, 2026
Disclaimer: The financial data and GMP provided are for informational purposes only. SME IPOs carry higher volatility and risk. Please consult with a registered financial advisor and conduct thorough due diligence before bidding.
