About Landmark Cars IPO
As per Landmark DRHP, the offer for sale will include a share sale of around Rs. 400 crores by TPG Growth II SF PTE Ltd. In addition, Sanjay Karsandas Thakker HUF will also participate in the OFS by divesting shares worth Rs. 62 crores. Other shareholders who will participate in the OFS include:
The initial share sale of Landmark will also include a reservation of subscriptions for suitable employees. Further, the company will utilize the amount raised from its fresh share issuance for these purposes:
Entities like ICICI Securities and Axis Capital will manage the Landmark IPO.
About Landmark Cars Ltd.
Landmark Cars is a luxury automobile business in India with dealerships of renowned car brands, including Volkswagen, Honda, Jeep, Mercedes Benz, and Renault. This automotive chain features a market presence across the sector. Its services include new vehicle sales, after-sale services, sale of lubricants, repair parts and accessories, and retailing used passenger vehicles.
In FY2021 alone, the company sold over 1,133 vehicles for Mercedes. In addition, it sold over 4,000 vehicles for Renault and Honda.
To retail its MP6 Electric Vehicle in Delhi NCR and Mumbai, the automobile chain partnered with world-famous EV player BYD.
As far as the company’s financials are concerned, it recorded an income of Rs. 1,966.34 crores in FY2021. Here are a few other highlights of its financial record as of 31 March 2021:
Bottom Line
Over the years, Landmark Cars have managed to keep a robust financial statement. It also features a premium brand name in the Indian market, which will work in its favour once it hits the primary market. Eventually, this Landmark IPO news is worthwhile for investors who were keen on finding more details on this public issue.
Source: The Economic Times
Frequently Asked Questions
Landmark Cars reported a profit of Rs. 11.15 crores on 31 March 2021. Further, as of September 2021, its profit stood at 27.95 crores.
The founding date of Landmark Cars Ltd. is 23 February 2006.
Landmark Cars have sold around 1.3 lakh cars across all vehicle brands and models.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.
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