Leapfrog Engineering Services made its stock market debut today, June 24, 2026, on the BSE SME platform following the completion of its IPO allotment process. The company's shares opened at ₹22, trading 4.35% below the issue price of ₹23, before hitting the 5% upper circuit limit. According to Business Standard, the stock traded at ₹23.10 on the BSE, representing a 0.43% premium to the issue price of ₹23, with the counter hitting a high of ₹23.10 and a low of ₹22. About 2.04 crore shares changed hands at the counter during the trading session.
The Leapfrog Engineering Services IPO demonstrated strong institutional interest with 2.61 times overall subscription during the three-day bidding period from June 17-19, 2026. As reported by Business Standard, the public issue saw strong institutional interest, with the qualified institutional buyers (QIB) portion subscribed 20.32 times and the non-institutional investor (NII) category booked 5.10 times. However, the retail portion remained undersubscribed at 0.84 times. The company raised ₹88.51 crore from the book-building issue, comprising a fresh issue of 3.46 crore equity shares worth ₹79.60 crore and an offer for sale of 38.76 lakh shares aggregating to ₹8.91 crore. The IPO was priced in the ₹21-23 per share band with a face value of Re 1 per share.
Founded in 2005, Leapfrog Engineering Services operates as an integrated engineering solutions provider, offering end-to-end Engineering, Procurement, Construction and Commissioning (EPCC) services across sectors such as oil and gas, food processing, pharmaceuticals, and metals. According to Business Standard, the company handles the entire project lifecycle, including design, engineering, procurement, installation, commissioning, and maintenance. Its offerings span electrical systems, instrumentation and industrial automation, fire protection and safety solutions, and building automation systems. The company also provides engineering consultancy, manufactures medium- and low-voltage switchgears, executes turnkey EPC projects, and offers operations and maintenance services. As of April 30, 2026, the company had 112 employees on its payroll and 60 contract workers. The company reported revenue from operations of ₹269.35 crore and net profit of ₹18.25 crore for the period ended March 31, 2026.
The Leapfrog Engineering Services IPO comprised 3.85 crore equity shares with a net offer to the public of 3.66 crore shares after accounting for market maker provisions. As reported by Business Standard, the company plans to utilize proceeds strategically with ₹27 crore allocated for setting up a new assembly unit, ₹36.05 crore for working capital requirements, and the remaining funds for general corporate purposes. The IPO comprised a fresh issue of 3.46 crore equity shares and an offer for sale of 3.84 crore shares by existing shareholders. At the upper price band, retail investors needed a minimum investment of ₹2.76 lakh, while high-net-worth individuals required ₹4.14 lakh.
According to Business Standard, the Leapfrog Engineering Services IPO allotment status will be finalised soon after the allotment date. Once the basis of share allotment is fixed, equity shares will be credited into the demat accounts of eligible allotment holders and refunds will be initiated to unsuccessful bidders. Investors can check their allotment status online through the websites of BSE and the IPO registrar. Finshore Management Services serves as the book-running lead manager, while Integrated Registry Management Services Pvt Ltd is the registrar for this IPO, with Anant Securities acting as the market maker.
