India, Dec. 9 -- Supply chain solutions provider LEAP India has got Securities and Exchange Board of India (SEBI) go ahead to proceed with its initial public offering (IPO).

The regulator issued its observations during the Week ended December 5. In SEBI's parlance, issuance of observations is a nod to proceed with the public issue.

LEAP India filed its draft red herring prospectus (DRHP) with SEBI in August for an IPO that is proposed to comprise a fresh issue of shares worth INR 400 Cr along with an offer for sale (OFS) component of up to INR 2,000 Cr.

The OFS component is primarily comprised of an INR 1,998.6 Cr stake sale by promoter entity Vertical Holdings II, while promoter group entity KIA EBT Scheme 3 plans to offload shares wo...