Landmark Cars IPO subscribed 17% on day 1

14 Dec 2022 , 08:49 AM

The initial public offer (IPO) of Landmark Cars subscribed 17% on day 1 of the offer. The company receive bids for 14,04,383 equity shares out of 80,41,805 shares offered.

The maiden public offer of Landmark Cars, a premium and luxury car brands retailer was opened on December 13 and will close on December 15. The offer price band of the issue has been fixed at Rs 481 to Rs 506 per share.

Employees’ quota has been fully booked with 1.2 times subscription, while retail investors have bought 17% shares of the portion set aside for them and the reserved portion of NII was subscribed 39%. The portion reserved for QIBs was not even mark off.

The IPO has a fresh issue of up to Rs 150 crore and an offer for sale of up to Rs 402 crore aggregating up to Rs 552 crore. Click here to subscribe for Landmark Cars IPO.

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