Bookbuilding IPO | ₹552 Cr | Listed at BSE, NSE | Tue, Dec 13, 2022 - Thu, Dec 15, 2022
Landmark Cars IPO is a book build issue of ₹552.00 crores. The issue is a combination of fresh issue of 0.30 crore shares aggregating to ₹150.08 crores and offer for sale of 0.79 crore shares aggregating to ₹401.92 crores.
Landmark Cars IPO bidding started from Dec 13, 2022 and ended on Dec 15, 2022. The allotment for Landmark Cars IPO was finalized on Dec 20, 2022. The shares got listed on BSE, NSE on Dec 23, 2022.
Landmark Cars IPO price band is set at ₹506 per share. The lot size for an application is 29. The minimum amount of investment required by an retail is ₹14,674 (29 shares) (based on upper price). The lot size investment for sNII is 14 lots (406 shares), amounting to ₹2,05,436, and for bNII, it is 69 lots (2,001 shares), amounting to ₹10,12,506.
The issue includes a reservation of up to 21,834 shares for employees offered at a discount of ₹48.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Landmark Cars IPO RHP for detailed Information.
IPO Open
Tue, Dec 13, 2022
IPO Close
Thu, Dec 15, 2022
Issue Price
₹506 per share
Market Cap (Pre-IPO)
₹2,003.26 Cr
| IPO Date | 13 to 15 Dec, 2022 |
| Listed on | Fri, Dec 23, 2022 |
| Face Value | ₹5 per share |
| Price Band | ₹481 to ₹506 |
| Issue Price | ₹506 per share |
| Lot Size | 29 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹48.00 |
| Total Issue Size | 1,09,11,160 shares (agg. up to ₹552 Cr) |
| Fresh Issue | 29,66,498 shares (agg. up to ₹150 Cr) |
| Offer for Sale | 79,44,662 shares of ₹5 (agg. up to ₹402 Cr) |
| Share Holding Pre Issue | 3,66,25,620 shares |
| Share Holding Post Issue | 3,95,92,118 shares |
| BSE Script Code / NSE Symbol | 543714 / LANDMARK |
| ISIN | INE559R01029 |
Landmark Cars IPO offers total 1,09,11,160 shares. Out of which 54,44,662 (49.90%) allocated to QIB, 21,77,865 (19.96%) allocated to QIB (Ex- Anchor), 16,33,399 (14.97%) allocated to NII 38,11,265 (34.93%) allocated to RII and 32,66,797 (29.94%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 54,44,662 (49.90%) | NA |
| − Anchor Investor Shares Offered | 32,66,797 (29.94%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 21,77,865 (19.96%) | NA |
| NII (HNI) Shares Offered | 16,33,399 (14.97%) | NA |
| − bNII > ₹10L | 10,88,932 (9.98%) | 2,682 |
| − sNII < ₹10L | 5,44,467 (4.99%) | 1,341 |
| Retail Shares Offered | 38,11,265 (34.93%) | 1,31,422 |
| Employee Shares Offered | 21,834 (0.20%) | NA |
| Total Shares Offered | 1,09,11,160 (100.00%) |
Investors can bid for a minimum of 29 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 29 | ₹14,674 |
| Retail (Max) | 13 | 377 | ₹1,90,762 |
| S-HNI (Min) | 14 | 406 | ₹2,05,436 |
| S-HNI (Max) | 68 | 1,972 | ₹9,97,832 |
| B-HNI (Min) | 69 | 2,001 | ₹10,12,506 |
Landmark Cars IPO raises ₹165.30 crore from anchor investors. Landmark Cars IPO Anchor bid date is December 12, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Dec 12, 2022 |
| Shares Offered | 32,66,797 |
| Anchor Portion (₹ Cr.) | 165.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jan 19, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Mar 20, 2023 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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.
| Period Ended | 30 Jun 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|---|
| Assets | 1,209.37 | 1,085.38 | 887.90 | 831.77 | 1,008.03 |
| Total Income | 801.90 | 2,989.12 | 1,966.34 | 2,228.93 | 2,834.62 |
| Profit After Tax | 18.14 | 66.18 | 11.15 | -28.94 | -24.43 |
| NET Worth | 268.27 | 246.94 | 181.78 | 169.13 | 187.96 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total Borrowing | 464.37 | 308.49 | 327.44 | 357.91 | 478.78 |
| Amount in ₹ Crore | |||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Pre-payment, in full or in part, of borrowings availed by the Subsidiaries | 120.00 |
| 2 | General corporate purposes | 19.11 |
| KPI | |
|---|---|
| ROE | 26.66 |
| ROCE | 18.86 |
| RoNW | 26.52 |
| PAT Margin | 2.22% |
| EBITDA Margin | 6.27% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 17.88 | |
| P/E (x) | 27.61 | |
| Promoter Holding | 60.24% | 44.61% |
| Market Cap | ₹2,003.26 Cr. |
The Landmark Cars IPO is subscribed 3.06 times on December 15, 2022 7:00:00 PM (Day 3). The public issue subscribed 0.59 times in the retail category, 8.71 times in the QIB category, and 1.32 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 8.71 | 22,91,061 | 1,99,62,817 |
| NII | 1.32 | 17,18,295 | 22,63,044 |
| bNII (bids above ₹10L) | 1.59 | 11,45,530 | 18,16,676 |
| sNII (bids below ₹10L) | 0.78 | 5,72,765 | 4,46,368 |
| Retail | 0.59 | 40,09,355 | 23,52,364 |
| Employee | 2.93 | 23,094 | 67,657 |
| Total | 3.06 | 80,41,805 | 2,46,45,882 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission) | 14.66 |
| 2 | Commission/processing/uploading fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDPs(1)(2) | 1.65 |
| 3 | Fees payable to the Registrar to the Offer | 0.01 |
| 4 | Advertising and marketing expenses | 6.98 |
| 5 | Fees payable to the other advisors to the Offer | 5.33 |
| 6 | Others | |
| 7 | i. Listing fees, SEBI, BSE and NSE processing fees, book building software fees and other regulatory expenses; | 2.48 |
| 8 | ii. Printing and distribution of stationery; | 1.69 |
| 9 | iii. Fees payable to legal counsels; and | 4.26 |
| 10 | iv. Miscellaneous. | 3.05 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹506.00 | ₹506.00 |
| Open | ₹471.30 | ₹471.00 |
| Low | ₹446.45 | ₹446.20 |
| High | ₹480.65 | ₹481.15 |
| Last Trade | ₹460.05 | ₹458.40 |
Lead Manager Reports
Landmark Cars IPO is a main-board IPO of 1,09,11,160 equity shares of the face value of ₹5 aggregating up to ₹552 Crores. The issue is priced at ₹506 per share. The minimum order quantity is 29.
The IPO opens on Tue, Dec 13, 2022, and closes on Thu, Dec 15, 2022.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Landmark Cars IPO using UPI as a payment gateway. Zerodha customers can apply in Landmark Cars IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Landmark Cars IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Landmark Cars IPO opens on Tue, Dec 13, 2022 and closes on Thu, Dec 15, 2022.
Landmark Cars IPO lot size is 29, and the minimum amount required for application is ₹14,674.
You can apply in Landmark Cars IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Landmark Cars IPO will be done on Tuesday, December 20, 2022, and the allotted shares will be credited to your demat account by Thu, Dec 22, 2022. Check the Landmark Cars IPO allotment status.
The Landmark Cars IPO listing date is on Fri, Dec 23, 2022.
