Leapfrog Engineering IPO
Infrastructure Developers & Operators • ₹88.51 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Regulatory or legal risks cited in DRHP
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹23
Issue Size
₹88.51 Cr
Open
17 Jun 2026
Close
19 Jun 2026
Subscription
2.60×
IPO Schedule
| Issue Open Date | 17 Jun 2026 |
| Issue Close Date | 19 Jun 2026 |
| Listing Date | 23 Jun 2026 |
About Leapfrog Engineering
Leapfrog Engineering Services Limited is a provider of engineering, procurement, construction, and commissioning (EPCC) services with a focus on electrical, instrumentation, automation, fire safety, and modular substation systems. The company offers integrated solutions, including electrical engineering, industrial automation, fire protection systems, building automation, modular substations, and enterprise solutions, catering to industries such as oil and gas, metals, pharmaceuticals, and food processing. Its services cover the complete project lifecycle, from design and engineering to installation, commissioning, and maintenance. The company operates across multiple states in India and also serves international markets, with a significant portion of its revenue derived from exports. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Funding capital expenditure towards setting up an assembling unit — Rs 27 crore Working capital requirements — Rs 36.05 crore General corporate purposes
Company Details
Founders / Promoters
Mr Prabhav Narasimha Rao
Founded
2005
Registrar
Integrated Registry Mgt Ser.Pv
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Leapfrog Engineering — IPOFins Verdict
QuantitativeDriven by QIB demand at 20.3x and elevated disclosed risk (7/10), Leapfrog Engineering listed at a discount of 4.3% to its issue price. SME listings are also thinner and more volatile after listing. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
- The company is led by experienced promoters and a qualified management team with significant industry expertise. The managing director has over 30 years of experience in engineering and project manage
- The company has a sizable order book that provides revenue visibility for future periods. As of March 31, 2026, it had an outstanding order book of Rs 384.03 crore, comprising domestic orders worth Rs
- The company claims to have an established presence in international markets, particularly in the Middle East. It has executed over 14 projects in Kuwait over the past decade, contributing to its expor
- The company operates across multiple industry segments, including oil and gas, metals, pharmaceuticals, and food processing. This diversified portfolio may reduce dependency on any single sector and h
- The company claims to have a track record of delivering EPC projects on schedule. Its in-house project management, engineering, and supply chain coordination are designed to support timely execution a
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score +2.0
Actual listing outcome → score −0.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹23
Listing Price
₹22
Listing Gain/Loss
-4.35%
Listing Date
23 Jun 2026
Price Since Listing
Returns are measured against the ₹23 issue price.
Listing
₹22
-4.3%
1 Week
₹22.9
-0.4%
1 Month
₹22.24
-3.3%
Current
₹22.1
-3.9%
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FAQ
What is the price band of Leapfrog Engineering IPO?
The price band is ₹23 per share with a lot size of 0 shares.
What does Leapfrog Engineering do?
Leapfrog Engineering Services Limited is a provider of engineering, procurement, construction, and commissioning (EPCC) services with a focus on electrical, instrumentation, automation, fire safety, and modular substation systems. The company offers integrated solutions, including electrical engineering, industrial automation, fire protection systems, building automation, modular substations, and enterprise solutions, catering to industries such as oil and gas, metals, pharmaceuticals, and food processing. Its services cover the complete project lifecycle, from design and engineering to installation, commissioning, and maintenance. The company operates across multiple states in India and also serves international markets, with a significant portion of its revenue derived from exports. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Funding capital expenditure towards setting up an assembling unit — Rs 27 crore Working capital requirements — Rs 36.05 crore General corporate purposes
Should I apply for Leapfrog Engineering IPO?
Leapfrog Engineering listed at ₹22 (-4.3% discount to the ₹23 issue price) after 2.6x subscription. IPOFins Score 5/10: Driven by QIB demand at 20.3x and elevated disclosed risk (7/10), Leapfrog Engineering listed at a discount of 4.3% to its issue price. SME listings are also thinner and more volatile after listing. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
Who founded Leapfrog Engineering?
Leapfrog Engineering was founded by Mr Prabhav Narasimha Rao in 2005.