Landmark car IPO Review by Anil Singhvi: Subscribe or avoid? Check recommendation here

Landmark Cars IPO Review By Anil Singhvi: The 552-crore Landmark Cars IPO is open for subscription today. The subscription window will close on December 15. Ahead of its IPO, the company announced allocation of 32,66,797 shares to anchor investors, aggregating Rs 165.29 crore.  

Zee Business Managing Editor Anil Singhvi has recommended subscribing the public issue for long term. He said that if investors are not subscribing now, then they can buy after the listing. The Market Guru said that Landmark Cars has experienced promoters and is in leadership position which is a boon. 

He said that the company is making continuous profits and as the car making segment is gaining momentum, there will be positive growth for the Landmark cars too.

Singhvi also said that the car maker can profit from the car service margins. On the flip side, he said that there is a lot of competition in the automotive market which can be a hurdle for the company.

He further said that the automotive company should have increased the size of the IPO to get rid of the debt but as they haven’t done so they need to now find other ways to reduce the debt.

Singhvi said that the valuations are reasonable and investors need to invest in the car making company for long term and with the purpose of investment. 

Landmark Cars IPO subscription opens today: Check price band, allotment date, status check link, share price listing date and time NSE, BSE 

Landmark Cars IPO Price Band 

The price band has been fixed at Rs 481-506 per share for the IPO.

Landmark Cars IPO lot size is 29 shares. A retail-investor can bid for up to 13 lots (377 shares or Rs 190,762).

Landmark Cars IPO Allotment Date, Link

The tentative date for share allocation is December 20, 2022.

The allotment status will be available on the website of Link Intime India private ltd-- https://linkintime.co.in/

Landmark Cars Share Price Listing Date and Time NSE, BSE

Shares of Landmark Cars will be listed on the BSE and NSE. The listing will take place on December 23 at 10 AM.

Landmark Cars IPO consists of a fresh issue of equity shares aggregating to Rs 150 crore and an OFS of up to Rs 402 crore. Those selling shares through the OFS route are -- TPG Growth II SF PTE Ltd, Sanjay Karsandas Thakker HUF, Aastha Limited and Garima Misra.

Landmark Cars said that it will use the proceeds for payment of debt and general corporate purposes.

TPG-backed Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault.

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