Landmark Cars IPO was subscribed 3.06 times on the final day. The issue garnered bids for 2.46 crore shares against the IPO size of 80.41 lakh shares. Retail investors bought 59% shares of the allotted quota, while employees bid 2.93 times the portion set aside for them. The company reserved Rs 1 crore worth of shares for its employees, who will get those shares at a discount of Rs 48 per share to the final offer price. The price band for the offer, which opened on December 13, is fixed at Rs 481-506 per share. The portion set aside for high net worth individuals was subscribed 1.32 times, and that of qualified institutional buyers (QIB) 8.71 times. Landmark Cars IPO shares’ grey market premium (GMP) was in negative as shares were trading at a discount on Friday.
Landmark Cars IPO share allotment is likely to be finalised next week on Tuesday, 20 December. Investors with successful bids will receive the shares in their demat account on 22 December and the shares will be listed on the bourses on 23 December. The company intends to raise Rs 552 crore through the IPO, which comprises a fresh issue of Rs 150 crore, and an offer for sale (OFS) of Rs 402 crore by selling shareholders including TPG Growth. The company will utilise the majority of fresh issue proceeds for repaying debts besides general corporate purposes. It has a debt of around Rs 464 crore as of June 2022, increasing sharply from Rs 308 crore in March 2022.
How to check Landmark Cars IPO share allotment status online via BSE
– Visit the official website of BSE (https://www.bseindia.com/investors/appli_check.aspx.)
– Select Landmark Cars IPO in the menu. The name of the company will be available only after the finalisation of the share allotment status.
– Enter your application number allotted for Landmark Cars IPO.
– Then enter your Permanent Account Number (PAN card number).
– Click on ‘I’m not a robot’ and confirm the captcha.
– Click ‘Submit’. You will be able to see the Sula Vineyards IPO allotment status displayed on the screen.
How to check Landmark Cars IPO share allotment status online via Link Intime
– Go to the official website of the registrar of the IPO that is Link Intime (https://linkintime.co.in/mipo/ipoallotment.html)
– Select the name of the IPO (Landmark Cars) in dropbox.
– Select either one of the three modes: Application number, Client ID or PAN ID.
– Enter the application details
– Enter the Captcha and click n submit button to see the allotment status on screen.
Landmarks Cars has a large network of car dealerships across the country. The premium automotive retailer has dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault in India and a commercial vehicle dealership with Ashok Leyland in India. It has expanded its network from one dealership for Honda in 1998 to 112 outlets in 8 Indian states and Union territories as of June 2022.