Landmark Cars Rs 762 Crore IPO to launch on December 13

8 Dec 2022 , 09:29 AM

The initial public offering (IPO) of Landmark Cars opens for subscription from December 13 to December 15. According to draft red-herring prospectus (DRHP), the company will raise Rs 762 crore from the IPO. This includes a fresh issue of shares worth Rs 150 crore and an offer for sale worth Rs 612 crore. The issue price and lot size of the IPO have not yet been finalised.

Landmark Cars was established in 1998. It is a leading premium automobile retail company in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. The company also handles the retail sales of Ashok Leyland commercial vehicles in India.

The company 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.

According to the company’s annual report, it had notional revenue of Rs 3,400 crore in FY22, up 73% year-on-year and a profit of Rs 66 crore.

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