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Landmark Cars IPO: Many companies in the country keep bringing their IPOs. If you too are thinking of investing money in IPO, then you must read this news. This time, the premium automotive retailer Landmark Cars Company, which sells Mercedes cars, is coming up with its IPO. This company has fixed its price band for IPO. This IPO is going to open for public issue from 13 to 15 December.
% share reserve
The company has reserved 35 per cent for retail investors, 15 per cent for high-net-worth non-institutional investors and 50 per cent for qualified institutional buyers. It is known that the company will use the money raised from the share issue to repay some debt and for the purpose of corporate expansion.
share price fixed
Investors can bid for a minimum of 29 shares and in lots of 29 shares thereafter. A price of Rs 481-506 has been fixed for this stock. The float of Rs 552 crore under the IPO includes fresh issue of Rs 150 crore and offer-for-sale of Rs 402 crore.
what is the work of the company
The Landmark Group operates a premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. It looks after the commercial vehicle retail business of Ashok Leyland. In addition, it has a presence in the automotive retail value chain, including sale of new vehicles, their service and repair, sale of spare parts, oil and accessories, and insurance.
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How much is the value of the company
The total revenue of the company in the financial year 2021-22 has been Rs 2,989 crore with an annual increase of 52 percent. At the same time, its net profit has been Rs 66 crore, which has been 6 times of Rs 11 crore recorded in the last financial year. Its revenue has been Rs 802 crore with a profit of Rs 18 crore for the June quarter of the current financial year.
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