Leapfrog Engineering Services (LESL) is engaged in engineering, procurement, construction, and commissioning (EPCC) with a specialized focus on electrical, instrumentation, fire safety, modular substation and automation systems. They are an integrated Engineering Services Company that provides EPCC services for a wide range of industries, including Oil and Gas, Food processing, Pharma, Metals among others. With over 20 years of a strong, customer -focused approach and a continuous quest for outstanding quality, has unmatched capabilities across Electrical, Instrumentation, Automation, Fire Protection, Modular Substation and Project Execution. Leapfrog has built a reputation for its expertise in developing large – scale projects including refineries, early productions facilities, gas sweetening facilities, petrochemical plants, pharma, food processing, metals, chemicals and fertilizers. Their expertise spans a wide range of engineering solutions,
Weak fundamentals and premium/expensive valuation
SME IPOs are higher risk, less liquid and more volatile than mainboard IPOs. Invest only after reading the offer document and understanding the risks.
Leapfrog Engineering Services IPO is open with a price band of 21-23. The company has shown improving financials, with revenue and PAT growth in recent years.
The company's financials have shown improvement, but the lack of consistent data and high debt-equity ratio in FY23 are concerns.
Data quality is a concern, with missing data on anchor investors, subscription, and objects of issue.
0.0%
Overall demand
Retail Queue
Institutional Queue
Non-Institutional
Subscribed
Finshore Management Market Maker
Finshore Management Services Limited managed 57 IPOs, with 67% listed with gains.
Post-listing volume can be low. Trading takes place in large retail lots.
Top 5 customers account for more than 40% of revenues.
Scale of operations is relatively small, with minor audit flags.
Leapfrog Engineering Services (LESL) is engaged in engineering, procurement, construction, and commissioning (EPCC) with a specialized focus on electrical, instrumentation, fire safety, modular substation and automation systems. They are an integrated Engineering Services Company that provides EPCC services for a wide range of industries, including Oil and Gas, Food processing, Pharma, Metals among others. With over 20 years of a strong, customer -focused approach and a continuous quest for outstanding quality, has unmatched capabilities across Electrical, Instrumentation, Automation, Fire Protection, Modular Substation and Project Execution. Leapfrog has built a reputation for its expertise in developing large – scale projects including refineries, early productions facilities, gas sweetening facilities, petrochemical plants, pharma, food processing, metals, chemicals and fertilizers. Their expertise spans a wide range of engineering solutions,
Engineering - EPC
Promoters group
Whole-time Directors & Promoter group
| Company | P/E (x) | ROE (%) | Revenue CAGR (3Y) | EBITDA Margin (%) | Market Cap (₹ Cr) |
|---|---|---|---|---|---|
| Leapfrog Engineering Services (IPO) | 14.65x | 30.45% | -14.7% | 16.0% | -- |
| Atmastco Limited | 12.62x | -- | -- | -- | ₹241.2 Cr |
| AVP Infracon | 12.77x | -- | -- | -- | ₹190.41 Cr |
| Bondada Engineering | 8.88x | -- | -- | -- | ₹555.87 Cr |
| Chiraharit Limited | 19.11x | -- | -- | -- | ₹178.89 Cr |
| Effwa Infra | 13.75x | -- | -- | -- | ₹217.74 Cr |
| Greenleaf Envirotech | 17.17x | -- | -- | -- | ₹58.275 Cr |
| H.M. Electro | 15.39x | -- | -- | -- | ₹136.2 Cr |
| Harshdeep Hortico | 13.62x | -- | -- | -- | ₹66.735 Cr |
| HEC Infra | 15x | -- | -- | -- | ₹169.8 Cr |
| Icon Facilitators | 15.78x | -- | -- | -- | ₹87.09 Cr |
| Jash Engineering | 14x | -- | -- | -- | ₹248.46 Cr |
| K2 Infragen | 12.36x | -- | -- | -- | ₹178.17 Cr |
| Kay Cee | 12.25x | -- | -- | -- | ₹57.3 Cr |
| Knowledge Marine | 5x | -- | -- | -- | ₹48.96 Cr |
| Oval Projects | 18.92x | -- | -- | -- | ₹153.42 Cr |
| Power & | 12x | -- | -- | -- | ₹96.555 Cr |
| Pratham EPC | 12.72x | -- | -- | -- | ₹102.9 Cr |
| Presstonic Engineering | 18.23x | -- | -- | -- | ₹42.75 Cr |
| RBM Infracon | 11.61x | -- | -- | -- | ₹61.5 Cr |
| Rulka Electricals | 16.21x | -- | -- | -- | ₹106.68 Cr |
| Safety Controls | 15.51x | -- | -- | -- | ₹121.38 Cr |
| Samay Project | 12.89x | -- | -- | -- | ₹56.58 Cr |
| Sathlokhar Synergys | 12.89x | -- | -- | -- | ₹370.98 Cr |
| Sattva Engineering | 14.34x | -- | -- | -- | ₹140.475 Cr |
| Sharika Enterprises | 16x | -- | -- | -- | ₹3.645 Cr |
| Univastu India | 17x | -- | -- | -- | ₹62.445 Cr |
| Vishnusurya Projects | 9.63x | -- | -- | -- | ₹198.555 Cr |
Good / Improving metrics, margins and cash flows with comfortable leverage.
| Financial Year | Revenue (₹ Cr) | EBITDA Margin (%) | PAT (₹ Cr) | ROCE (%) | ROE (%) | Debt / Equity (x) |
|---|---|---|---|---|---|---|
| FY23 | ₹104.18 Cr | 0.97% | ₹0.28 Cr | 10.95% | 5.26% | 2.45x |
| FY24 | ₹157.85 Cr | 12.50% | ₹16.39 Cr | 68.10% | 75.50% | 0.63x |
| FY25 | ₹134.66 Cr | 16.01% | ₹16.22 Cr | 32.45% | 30.45% | 0.38x |
Finshore Management Services Limited, based in Kolkata is the Lead Manager (BRLM) of Leapfrog Engineering IPO. Finshore Management Services Limited has handled 57 SME IPOs till date of which (67%) of the SME IPOs have been listed with listing gains. Read full review of Finshore Management Services Limited .
| Name | Offer Price | Listing Price | Listing Gain | CMP | % CMP |
|---|---|---|---|---|---|
| Safety Controls IPO | ₹80.00 | ₹80.53 | +0.66% | ₹80.00 | +0.00% |
| Greenleaf Envirotech IPO | ₹136.00 | ₹134.90 | -0.81% | ₹64.00 | -53.00% |
| Chiraharit Limited IPO | ₹21.00 | ₹16.80 | -20.00% | ₹10.00 | -52.00% |
| Oval Projects IPO | ₹85.00 | ₹85.25 | +0.29% | ₹63.00 | -26.00% |
| Sattva Engineering IPO | ₹75.00 | ₹95.10 | +26.80% | ₹63.00 | -16.00% |
| Icon Facilitators IPO | ₹91.00 | ₹90.00 | -1.10% | ₹74.00 | -19.00% |
| Samay Project IPO | ₹34.00 | ₹36.05 | +6.03% | ₹43.00 | +26.00% |
| H.M. Electro IPO | ₹75.00 | ₹81.00 | +8.00% | ₹50.00 | -33.00% |
| Sathlokhar Synergys IPO | ₹140.00 | ₹247.00 | +76.43% | ₹323.00 | +131.00% |
| Effwa Infra IPO | ₹82.00 | ₹163.55 | +99.45% | ₹329.00 | +302.00% |
| Rulka Electricals IPO | ₹235.00 | ₹498.75 | +112.23% | ₹90.00 | -62.00% |
| K2 Infragen IPO | ₹119.00 | ₹173.25 | +45.59% | ₹69.00 | -42.00% |
| AVP Infracon IPO | ₹75.00 | ₹75.05 | +0.07% | ₹73.00 | -2.00% |
| Pratham EPC IPO | ₹75.00 | ₹118.95 | +58.60% | ₹115.00 | +54.00% |
| Atmastco Limited IPO | ₹77.00 | ₹95.55 | +24.09% | ₹186.00 | +142.00% |
| Harshdeep Hortico IPO | ₹45.00 | ₹66.50 | +47.78% | ₹83.00 | +84.00% |
| Kay Cee IPO | ₹54.00 | ₹239.40 | +343.33% | ₹86.00 | +59.00% |
| Presstonic Engineering IPO | ₹72.00 | ₹147.00 | +104.17% | ₹31.00 | -57.00% |
| Vishnusurya Projects IPO | ₹68.00 | ₹76.65 | +12.72% | ₹164.00 | +141.00% |
| Bondada Engineering IPO | ₹75.00 | ₹149.62 | +99.49% | ₹344.00 | +358.00% |
| RBM Infracon IPO | ₹36.00 | ₹52.50 | +45.83% | ₹311.00 | +765.00% |
| Knowledge Marine IPO | ₹37.00 | ₹38.00 | +2.70% | ₹1988.00 | +5274.00% |
| Power & IPO | ₹33.00 | ₹34.90 | +5.76% | ₹111.00 | +235.00% |
| Sharika Enterprises IPO | ₹43.00 | ₹51.60 | +20.00% | ₹16.00 | -64.00% |
| Jash Engineering IPO | ₹120.00 | ₹144.00 | +20.00% | ₹503.00 | +1998.00% |
| Univastu India IPO | ₹40.00 | ₹40.20 | +0.50% | ₹90.00 | +125.00% |
| HEC Infra IPO | ₹100.00 | ₹97.90 | -2.10% | ₹130.00 | +1197.00% |
Subscription Trend (Times)
GMP Trend (₹)
Ideal for investors who:
