Wednesday, January 19, 2022

Landmark Cars IPO to Raise up to Rs.762 crores

A car dealership chain Landmark Cars has filed draft red herring papers with SEBI to raise up to Rs.762 crores via initial public offerings. The IPO comprises a Fresh Issue of Rs.150 crores & an Offer for Sale of Rs.612 crores.

A Group Landmark (TGP) was founded by Mr. Sanjay Thakker in the way back 1997. They are also running an insurance broking business. The company has over 3000 people working with them.

Read the Landmark Cars DRHP filling

Landmark Cars are one of the biggest retailers of luxury and premium cars in India. The brands they have are Mercedes Benz, Jeep, Volkswagen, Renault, and Honda. The company has over 100 dealerships in India. The cities that have their presence are Gujarat, West Bengal, Maharashtra, Madhya Pradesh, Delhi, and Punjab.

They recently announced an association with EV (electric vehicle) manufacturer BYD for sale and after-sales services in India. The company also provides 3rd party financial products including insurance policies and finance.

The IPO fund will be used for expansion. The book-running lead managers of the IPO are Axis Capital Limited and ICICI Securities Limited. The shares are proposed to be listed on NSE and BSE. The IPO allocation will be QIB 50%, NII 15%, and Retail 35%. The face value is Rs.5 per equity share.

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