Landmark Cars IPO, Shares Listing Date and Time NSE, BSE: Shares of Landmark Cars will be credited into the Demat accounts of successful bidders today, December 22.
Landmark Cars IPO, Shares Listing Date and Time NSE, BSE: Shares of Landmark Cars will be credited into the Demat accounts of successful bidders today, December 22. The company’s shares will list on stock exchanges — NSE and BSE on December 23, Friday at 10 AM. The special pre-opening session will start at 9:45 AM.
Landmark Cars IPO Price Band
The price band was fixed at Rs 481-506 per share for the IPO.
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Landmark Cars IPO allotment
Share allocation of Landmark Cars Initial Public Offer (IPO) was finalised on December 20. Bidders could check the subscription status on the official website of the registrar. Landmark Cars IPO’s official registrar is Link Intime — linkintime.co.in.
Landmark Cars IPO consisted of a fresh issue of equity shares aggregating to Rs 150 crore and an OFS of up to Rs 402 crore. Those selling shares through the OFS route were — TPG Growth II SF PTE Ltd, Sanjay Karsandas Thakker HUF, Aastha Limited and Garima Misra.
Landmark Cars had said that it will use the proceeds for payment of debt and general corporate purposes.
TPG-backed Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault.
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Anil Singhvi on Landmark Cars IPO
Zee Business Managing Editor Anil Singhvi had recommended subscribing the public issue for long term. He said that if investors were not subscribing now, then they could buy after the listing. The Market Guru said that Landmark Cars has experienced promoters and is in leadership position which is a boon.
He said that the company is making continuous profits and as the car making segment is gaining momentum, there will be positive growth for the Landmark cars too.
Singhvi also said that the car maker can profit from the car service margins. On the flipside, he said that there is a lot of competition in the automotive market which can be a hurdle for the company.
He further said that the automotive company should have increased the size of the IPO to get rid of the debt but as they haven’t done so they need to now find other ways to reduce the debt.
Singhvi said that the valuations are reasonable and investors need to invest in the car making company for long term and with the purpose of investment.
