Landmark Cars IPO price band fixed at Rs 481-506 per share

8 Dec 2022 , 11:51 AM

The initial public issue of Landmark Cars to start next week from December 13-15. The company has decided the price band in the range of Rs 481-506 per share. Investors can bid in a minimum lot of 29 shares and its multiples thereof.

As per RHP, the company is raising Rs 552 crore through its primary issue which includes fresh issue of Rs 150 crore and offer for sale by existing promoters and shareholders of Rs 402 crore. Earlier the company was about to raise Rs 762 crore through IPO as mentioned in DRHP but has later on reduce the issue size.

Landmark Cars has reserved 50% of the net offer for Qualifies Institutional Buyers (QIBs), 53% for retail investors and remaining 15% is reserved for non-institutional investors. The company has also reserved shares of worth Rs 1 crore for employees who will get a discount of Rs 48 per share during the bidding process.

Axis Capital and ICICI Securities are the book running lead managers to the issue, whereas Link Intime India has been appointed as the registrar. The company will expected to list on stock market on Friday, December 23.

For feedback and suggestions, write to us at [e-mail]