LEAP (IFC-41326)

  • India
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 30, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 21.20 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 17, 2019

Disclosed by Bank Aug 9, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC, "IFC is considering to invest in LEAP India Pvt. Ltd, a provider of returnable and customized packaging to a variety of industries and provides wooden pallets and foldable large containers (FLCs) on lease which are used for storing and moving products across the supply chain.

Over the last five years LEAP has built an asset base of about 1.3 million softwood pallets (pallets are purchased from contract manufacturers and largely provided on rent to customers or in few cases sold to the customer directly) and about 30,000 FLCs which are supplied to about 262 clients. LEAP has a pan India network comprising 17 warehouses located in 12 states with total area of ~260,000 sqft and which are taken on lease based on lease agreement.

Wood planks and wood blocks used for making pallets are imported by the lumber importers from various countries such as Germany, Baltics, Siberia and Russia based on specifications provided by LEAP. The lumber so imported is then purchased by the contract manufacturers engaged by LEAP in the quantity required to meet the pallet orders on hand. A small portion of the wood around 0.1% is sourced locally by the contract manufacturers."

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to IFC, LEAP company was founded in 2013 and is majority owned by its Founder, Mr. Sunu Mathew. The Company has received two rounds of funding from private equity investors – Mayfield India II Ltd., Sixth Sense India Opportunities I and Indianivesh Growth and Special Situations Fund. LEAP has a pan India network comprising 18 warehouses, 14 contract manufacturing centers and a team of 270 employees that allows the Company to efficiently service its client’s needs.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

LEAP India Private Limited
Sunu Mathew
Founder & Managing Director
022 2885 8714
302, 3rd floor, Ruby Crescent Business Boulevard, Ashok Chakravarti Rd, Ashok Nagar, Kandivali East, Mumbai, Maharashtra 400101


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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