Landmark Cars to float IPO on December 13, sets price band at Rs 481-506

Landmark Cars to float IPO on December 13, sets price band at Rs 481-506

Axis Capital and ICICI Securities are the Book Running Lead Managers to the issue





December 08, 2022 / 09:04 AM IST





IPO



Premium automotive retailer Landmark Cars is set to float its initial public offering (IPO) on December 13. The price band for the offer, which will close on December 15, is set at Rs 481-506 apiece.

Investors can bid for a minimum of 29 shares and in multiples of 29 shares thereafter.

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The Rs 552-crore float comprises fresh issue worth Rs 150 crore and offer-for-sale of Rs 402 crore. The selling shareholders are TPG Growth II SF, Aastha Ltd, Garima Misra and promoter Sanjay Thakker.

The company has reserved 35 percent of the issue size for retail investors, 15 percent for high-networth individuals (non-institutional investors) and the remaining 50 percent for qualified institutional buyers.

The proceeds from the fresh issue will be used repayment/pre-payment of certain borrowings and other general corporate purposes, as per the IPO prospectus.

Group Landmark has a premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. It also caters to the commercial vehicle retail business of Ashok Leyland.

It has presence across the automotive retail value chain, including