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Landmark Cars Limited IPO Detail

Landmark Cars Limited IPO Detail

Incorporated in 1998, Landmark Cars Limited is the leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. The company also cater to the commercial vehicle retail business of Ashok Leyland in India.

Landmark Cars offers services such as sales of new vehicles, after-sales service and repairs (including sales of spare parts, lubricants and accessories), sales of pre-owned passenger vehicles and facilitation of the sales of third-party finance and insurance products.

The company has expanded the network to include 112 outlets in 8 Indian states, comprised of 61 sales showrooms and outlets and 51 after-sales services and spare outlets, as of September 30, 2021.

Landmark Cars Limited vehicle dealership network is spread across 31 cities in eight states and union territories including Maharashtra, Uttar Pradesh, Gujarat, Haryana, Madhya Pradesh, Punjab, West Bengal and the National Capital Territory of Delhi.

The company operate as an authorized service centre for Mercedes-Benz, Honda, Volkswagen, Jeep, Renault and Ashok Leyland. Landmark Cars also provide after-sales service and repairs through 51 after-sales services and spare outlets, as of September 30, 2021.

The company's business model captures the entire customer value chain including retailing new vehicles, servicing and repairing vehicles, selling spare parts, lubricants and other products, selling pre-owned passenger vehicles and distribution of third-party finance and insurance products.

Company Promoters

Sanjay Karsandas Thakker

IPO Details

IPO Opening DateDec 13, 2022
IPO Closing DateDec 15, 2022
Issue TypeBook Built Issue IPO
Face Value₹5 per equity share
IPO Price ₹481 - 506 per equity share
Market Lot29 Shares
Min Order Quantity29 Shares
Listing AtBSE, NSE
Issue Size₹552.00 Cr
Fresh Issue₹150.00 Cr
Offer for Sale₹402.00 Cr
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0x 0.4x 0.17x 1.19x - 0.18x
Day 2 0.09x 0.83x 0.35x 2.04x - 0.38x
Day 3 8.71x 1.32x 0.59x 2.93x - 3.16x

IPO Tentative Timetable

The Landmark Cars Limited IPO open date is Dec 13, 2022, and the close date is Dec 15, 2022. The issue may list on Dec 23, 2022.

IPO Open DateDec 13, 2022
IPO Close DateDec 15, 2022
Basis of Allotment DateDec 20, 2022
Initiation of RefundsDec 21, 2022
Credit of Shares to Demat AccountDec 22, 2022
IPO Listing DateDec 23, 2022

IPO Lot Size

The Landmark Cars Limited IPO market lot size is 29 shares. A retail-individual investor can apply for up to 13 lots (377 shares or ₹190762).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding60.24%
Post Issue Share Holding44.61%

Company Financials:

For the year/period ended (₹ in Crore)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-20 831.77 2228.93 -28.94
31-Mar-21 887.9 1966.34 11.15
30-Sep-21 998.69 1419.79 27.95

Objects of the Issue:

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

1. Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company and Subsidiaries.

2. General corporate purposes.

Landmark Cars Limited IPO Registrar:

Link Intime India Private Ltd

Landmark Cars Limited IPO Lead Manager(s):

Axis Capital Limited ICICI Securities Limited

Company Contact Information:

Landmark Cars Limited

Landmark House, Opp. AEC, S.G. Highway, Thaltej, Near Gurudwara