Mumbai-based supply chain solutions firm Leap India is planning to raise around Rs 5-6 billion from its existing investors, including Mayfield, IndiaNivesh Growth Fund, and others. The fundraising will support organic and inorganic growth, said a senior management official. He added that the company will hit a revenue of around Rs 2 billion this financial year. "We are in the process of raising the third round of fundraising to the tune of around Rs 5-6 billion, including equity and debt, to support our growth. We are also ready to set up our operations outside the country once we receive the nod from our investors," said Leap India Business Head Gaurav Singh. So far, the company has raised around Rs 2.5 billion. The existing investors include Mayfield, IndiaNivesh, Sixthsense, TCI Ventures, and SSG Capital Management Group. The company will keep a 1:2 ratio for equity and debt for the fundraising. Currently, around 48 per cent of the equity is with the investors while the rest is with the promoters. The existing investors and the promoters are expected to dilute their stake in the fundraising to bring in new investors. However, the company did not divulge the new investors entering the board with the new fundraising.
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