Landmark Cars makes tepid debut on Dalal Street at 7% discount

23 Dec 2022 , 10:25 AM

Landmark Cars Limited has hit the secondary market today at the price of Rs 471 on NSE and at Rs 471.30 on BSE with a discount of 6.92% on the issue price. The company had offers its shares from December 13-15 at the price range of Rs 481-506 apiece. 

As per BSE data, the company has received bids for 2,46,45,186 shares against 80,41,805 shares on offer in the initial public offer.

The IPO of landmark had 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.

Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. The company has a presence across the automotive retail value chain, which includes sales of new vehicles, after-sales service and repairs, including sales of spare parts, lubricants and accessories, and sales of pre-owned passenger vehicles.