Landmark Cars raises Rs 165 crore via anchor book ahead of IPO

13 Dec 2022 , 08:37 AM

Ahead of the initial public offer opening on Tuesday, December 13, Landmark Cars has raised Rs 165.30 crore via its anchor book.

On December 12, company has said in its BSE filing that it has allocated 32.66 lakh shares to anchor investors, at a price of Rs 506 per share, the upper end of price band. Total of 14 investors has invested in the company via anchor book. These include HDFC Mutual Fund, Nippon Life India, Goldman Sachs, Aditya Birla Sun Life, Pinebridge Global Funds, Edelweiss, Maven India Fund, BNP Paribas Arbitrage, Resonance Opportunities Fund, and Morgan Stanley.

Landmark cars aims to raise Rs 552 crore through public issue of 1.09 crore shares, which comprises a fresh issue of Rs 150 crore and an offer for sale of Rs 402 crore. The company has fixed IPO price band at Rs 481-506 per share. Investors can invest in the IPO in a lot size of 29 shares and its multiples.

Landmark Cars was incorporated in 1998. It is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. The company also caters to the commercial vehicle retail business of Ashok Leyland in India.

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