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Landmark Cars IPO: GMP, subscription status, other details. Apply or not?

Landmark Cars IPO: The Initial Public Offering (IPO) of Landmark Cars Limited will hit primary markets today and subscription to the public issuance will remain open to bidders till 15th December 2022. The auto dealership aims to raise Rs 552 crore from the public. An offer of which Rs 402 crore is reserved for OFS (Offer for Sale). The automaker has set the offering price range for Landmark cars from Rs 481 to Rs 506 per share.

Meanwhile, Landmark Cars Limited shares are available in the gray market. According to market observers, shares of Landmark Cars Limited are available today at a premium of Rs 31 in the gray market.

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Here we list out important details of the Landmark Cars IPO in 10 points:

1] Landmark Cars IPO - Landmark Cars shares are available at a premium of Rs 31 in the gray market today, which means Landmark Cars IPO GMP today is Rs 31.

2] Landmark Cars IPO Price - The auto dealership has set the IPO price from Rs 481 to Rs 506 apiece.

3] Landmark Cars IPO Subscription Status: 12:14 p.m. M. As of the first day of bidding, the public offering was 0.04 times oversubscribed, while its retail portion was 0.07 times oversubscribed.

4] Landmark Cars IPO Size: The auto dealership aims to raise Rs 552 crore from this IPO. Of the Rs 552 crore, Rs 402 is reserved for OFS, while Rs 150 crores is aimed via issuance of fresh shares.

5] Landmark Cars IPO lot size: A bidder may apply for an IPO in the form of lots and one lot of the IPO consists of 29 shares of Landmark Cars.

6] Landmark Cars IPO Application Limit: An individual investor may apply for IPO at least one lot and a maximum of 13 IPO lots.

7] Landmark Cars IPO allotment date: Finalisation of share allocation is likely to be completed on December 20, 2022.

8] Landmark Cars IPO Registrar: Link Intime India Private Ltd has been appointed as the Official IPO Registrar.

9] Landmark Cars IPO List: The public offering is proposed for listing on the Bahrain Bourse and the New South Wales Stock Exchange and the likely date for listing the shares is December 23, 2022.

10] Landmark Cars IPO review: On whether or not to go public, Abhay Doshi, founder at UnlistedArena.com said, “Landmark is a leading luxury car retailer in India. It has a presence throughout the value chain Automotive retail, including new car sales, after-sales service, repairs, used passenger car sales, and facilitating the sale of third-party insurance and financial products. The Company's strategy is to expand its aftersales offering to serve more customers and increase its higher-margin services and revenue fix.

Giving a 'subscribe' tag to the Landmark Cars IPO, the Marwadi Shares and Finance report said: “Considering an adjusted EPS for FY22 of Rs 16.72 post issuance, the company will be trading at a P/E multiple of 30.27 times. The market capitalization is 20,033 crore. There are no listed companies in India engaged in business similar to that of Landmark Cars Limited, adding: “We have assigned a 'subscription' rating to this IPO as the company is among a leading auto dealer to major OEMs with Strong focus on high growth sectors, available at reasonable valuations considering the company's future growth potential. "

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and are not those of the Autonexa. Investors are advised to consult with certified experts before making any investment decisions.

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