Morgan Stanley’s local infrastructure fund acquires stake in LEAP India

Morgan Stanley’s India Infrastructure Fund has acquired a stake in pallet pooling firm LEAP India for Rs 1.8 billion ($25 million). The investment will help LEAP achieve a total asset pool of 6 million and provide technologically advanced products in the market. Founded in 2013, LEAP India provides returnable and customised packaging solutions to a variety of industries. It offers wooden pallets and foldable large containers, which are used for storing and moving products across the supply chain. LEAP India primarily caters to the FMCG, consumer durables, beverages, e-commerce, retail, auto and auto-component manufacturing sectors. The International Finance Corporation (IFC), IndiaNivesh, Mayfield Capital and Sixth Sense Ventures are the other investors in LEAP India.