Leapfrog Engineering Services IPO Day 1: Issue booked 9% so far. Check GMP, key details to know

Leapfrog Engineering Services IPO opened on 17 June with weak Day 1 subscription of just 9%, against the net offer of 3.66 crore shares. The grey market premium stood at zero, indicating no premium over the upper price band of ₹23 per share, while the QIB portion had not received any bids yet. The company, an EPCC player serving oil and gas, pharma and metals sectors, reported FY25 revenue of ₹137.37 crore and profit after tax of ₹16.22 crore, with proceeds earmarked for a new assembly unit and working capital needs.