Molecular diagnostics firm Molbio Diagnostics and logistics solutions provider LEAP India have received clearance from the Securities and Exchange Board of India (SEBI) to proceed with their initial public offerings (IPOs). The regulator’s latest observations mark an important step for both companies as they move closer to listing on the stock exchanges.
LEAP India had filed its draft red herring prospectus (DRHP) several months ago, outlining plans to raise up to ₹2,400 crore. The IPO will include a fresh issue of ₹400 crore and an offer for sale (OFS) of ₹2,000 crore. The bulk of the OFS will come from Vertical Holdings II Pte. Ltd., a KKR-backed promoter entity, which intends to sell shares worth ₹1,998.6 crore. Another promoter entity, KIA EBT Scheme 3, will sell shares valued at about ₹13.8 crore.
In preparation for its public listing, LEAP India converted into a public limited company in July 2025 and appointed independent directors to strengthen its board an update earlier reported by Entrackr.
LEAP India offers pallet, container, and asset-pooling services to major FMCG, pharma, and e-commerce companies. The firm has been scaling its fulfilment centres and customer touchpoints amid rising demand for organised logistics infrastructure. In FY25, LEAP posted revenues of ₹466 crore, growing 28% year-on-year, while maintaining a profit after tax of ₹37.5 crore due to improved asset utilisation.
Molbio Diagnostics, which filed its DRHP in August 2025, has proposed a fresh issue of ₹200 crore and an OFS of up to 1.25 crore shares. Key selling shareholders include Exxora Trading LLP, Dr. Chandrasekhar Bhaskaran Nair, and Abdul Qadir Mohamed Theruvath. Molbio, best known for its Truenat point-of-care molecular testing platform used for TB, HPV, Covid-19 and other infectious diseases, aims to deploy IPO proceeds toward expanding manufacturing capacity and strengthening its R&D capabilities.
The company reported ₹1,020 crore in revenue and ₹138.5 crore in profit in FY25, underscoring the growing adoption of decentralised diagnostic technologies in India and other markets.
In recent months, SEBI has also approved IPO plans from several new-age companies including enterprise AI company Fractal, cloud-based media SaaS player Amagi, e-commerce firm Acevector, logistics startup Shiprocket, Curefoods, and dairy producer Milky Mist.
