KKR-backed supply chain solutions provider LEAP India Ltd. completed its Rs 371.3 crore pre-IPO placement on Thursday. In consultation with the IPO’s book-running lead managers, the company privately placed 23,351,100 equity shares at an issue price of Rs 159 per share, including a premium of Rs 158.

The pre-IPO placement round saw participation from Matyas Possessiones, in which the company’s promoter Sunu Mathews holds 99% stake, as well as Singapore-based wealth fund GIC’s subsidiary Gamnat Pte Ltd. Leading hedge fund Dymon Asia Multi-Strategy Investment (Singapore) also participated in the pre-IPO round.

Gamnat Pte Ltd was allocated 17,610,000 equity shares of the company on August 3, 2026, for Rs 159 per equity share, each aggregating to Rs 279.99 crore.

Dymon Asia Multi-Strategy Investment (Singapore) Pte Ltd was allotted 3,144,600 equity shares each at Rs 159 per equity share each aggregating to Rs 49.99 crore. Matyas Possessiones Private Limited was allotted 1,446,500 shares each at Rs 159 per equity share each aggregating to Rs 22.99 crore.

KKR-backed LEAP India will open its Rs 2,480 crore IPO for subscription on August 7, with a price band of Rs 151-159 per share. The issue comprises a Rs 480 crore fresh issue and a Rs 2,000 crore OFS. The company plans to use proceeds to repay debt and for general corporate purposes.

JM Financial Ltd. is serving as the book-running lead manager for the IPO, while MUFG Intime India Pvt. Ltd. has been appointed as the registrar for the issue.
Backed by KKR, supported by a diversified customer base, and benefiting from rising demand for efficient logistics infrastructure, LEAP India’s IPO is expected to draw attention from investors seeking exposure to India’s growing logistics and supply chain market.

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Shares of Allcargo Logistics rallied over 15% to Rs 9.45 on the BSE on Thursday after the company reported a 258% year-on-year jump in profit before tax (PBT) to Rs 31 crore for Q1FY27.

According to a regulatory filing with the BSE, the logistics provider reported its highest-ever quarterly revenue across both its Express Distribution and Contract Logistics businesses, supported by pricing stability and healthy volume growth.

The Express Distribution business posted 13.5% year-on-year revenue growth in Q1FY27, driven by improved operational performance and enhanced service quality. Meanwhile, the Contract Logistics business recorded 6% year-on-year revenue growth during the June quarter, supported by efficiency-led growth, 99% service quality adherence, a strong customer retention rate, expansion across diverse industry sectors, and new business opportunities.

Managing Director and CEO Ketan Kulkarni said the Q1FY27 performance reflects the strength of disciplined execution across the company’s businesses.

“Beyond achieving our highest-ever quarterly revenue in both Express Distribution and Contract Logistics, what is particularly encouraging is that this growth has been driven by a healthy combination of higher shipment volumes, stronger customer relationships and sustained operational improvements,” he said.

Kulkarni added that the company’s service equation-led pricing approach improved yields during the quarter, while over 99% service quality adherence resulted in a strong customer retention rate.
He also said the company is progressively leveraging AI-driven analytics and data-led decision-making to enhance demand forecasting, optimise network planning, improve shipment visibility, and enable faster, more informed operational decisions across its logistics network.Building on the momentum achieved during the first quarter, Allcargo Logistics expects business activity to strengthen further in the second and third quarters, particularly during the upcoming festive season, according to the BSE filing.

“Continuous network optimisation, improved routing efficiencies, disciplined cost management and better asset utilisation have strengthened our operating leverage and profitability. Going forward, we will continue to accelerate the use of AI, digital technologies and data intelligence across our operations and build a more agile and resilient supply chain,” Kulkarni added.

The company said it remains focused on sustaining profitable growth through disciplined pricing, superior customer experience, operational excellence and deeper market penetration across both its Express Distribution and Contract Logistics businesses, while maintaining a prudent growth strategy.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.)

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The cost of living crisis is well documented and for many people a mortgage is a millstone around their necks – but a growing number have chosen to cut costs by swapping their houses for a narrowboat.

The BBC took to the waterside in Leeds to find out how it’s worked out for some of them.

Ken Tracey, 57, sold his house in Suffolk in 2022, citing the need for “a change in life”.

“The cost of the house, it was really tricky to keep up with everything, keep the payments going,” he says.

“I’ve not got a mortgage any more, but I own this, so it’s safe.”

However, he admits there are “swings and roundabouts” to his new lifestyle.

Alongside trying to save money, Ken says he bought the boat to “live an adventure” – but admits he had not realised how difficult boat life would sometimes be.

“You’re not really prepared for it at the start – things like winter are a different thing.

“You’ve got to deal with a whole load of things that you wouldn’t have to deal with if you’re in a house. And then travelling around, you’ve got to solve problems every day.”

He described life on a narrowboat as “not a land of health and safety” and warned: “Locks are dangerous places”.

“This is technology that’s a couple of hundred years old now and you can see that in some places,” he claimed.

It also took him more than 18 months to “get to grips” with steering the boat.

“It takes weeks and weeks of bumping into things, scraping along the side of things, before you can work out the best way to steer it.”

Ken spent £75,000 on his boat and a further £20,000 on unforeseen maintenance.

Shares of state-owned defence major Hindustan Aeronautics (HAL) rallied as much as 6.3% to hit the day’s high of Rs 4,910 on the BSE on Thursday, as investors cheered the company’s robust order book and positive outlook for the coming quarters.

According to the company’s annual report released on Tuesday, HAL’s order book stood at a staggering Rs 2.55 lakh crore for FY26. The outlook for FY27 and beyond remains positive, with the company noting that its strong order book provides 7-8 years of revenue visibility.

HAL expects growth to improve through better supply chain stabilisation, capacity expansion, including significant infrastructure investments, and faster production ramp-up of key platforms, the company said in its annual report released on August 4.

Also read: Defence stocks rally on strong order books and rising exports: Are they still worth buying?

HAL key focus areas

Hindustan Aeronautics outlined its key priorities for the coming years, including increasing LCA Mk1A production to more than 24 aircraft annually and accelerating the manufacturing of the HTT-40 trainer aircraft.

The company also plans to expand its presence in the civil aviation and export markets while raising indigenisation levels to over 65-75% across its major platforms. HAL said it will continue to invest in digital transformation, artificial intelligence, and research and development for future programmes such as the IMRH, LCA Mk2, CATS, HLFT, and UAVs.

HAL FY27 outlook

The company said it is well positioned to benefit from opportunities across aircraft, helicopters, aero engines, avionics, and maintenance, repair and overhaul (MRO) projects. It added that the execution of ongoing programmes, along with expected orders for fighter aircraft, rotary-wing platforms, and upgrade projects, is likely to provide strong medium- to long-term revenue visibility.HAL said these initiatives are expected to support its long-term growth, strengthen its role in India’s aerospace and defence ecosystem, and improve its competitiveness in global markets.

Last month, the company announced that it had signed a long-term agreement with Safran Aircraft Engines for the production and supply of turbine ring forgings made from superalloys for the ‘CFM LEAP’ engine programme.

Read more: Why a Rs 72,000 crore fund manager refuses to chase defence rally now

Under the agreement, HAL will manufacture near-net-shape ring forgings for the Leading Edge Aviation Propulsion (LEAP) engine at its state-of-the-art Ring Rolling facility at HAL’s Foundry and Forge Division in Bengaluru.

These superalloy ring forgings are used in high-temperature applications in the rotating section of the aero-engine and are critical to engine performance and reliability, the company said in a release.

HAL share price performance

HAL stock has gained nearly 20% in the last six months and about 10% since the beginning of the year. Over a three-year period, the stock price has risen more than 150%, while it has surged around 800% over the last five years.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)