Landmark Cars IPO Subscribed 17% On Opening Day
The IPO was subscribed 0.17 times, or 17%, as of 5:00 p.m. on Dec. 13.
TPG-backed Landmark Cars Ltd., the country's leading premium car dealer, launched its three-day initial public offering today, alongside Droneacharya Aerial Innovations Ltd.
The issue consists of a fresh issue of Rs 150 crore and an offer-for-sale of Rs 402 crore by selling shareholders at a price band of Rs 481–506 apiece in the IPO. The issue is worth Rs 552 crore.
The promoters and the promoter group will hold 48% of the post-offer issued and paid-up equity share capital. The offer for sale comprises 27.56% of the post-offer equity capital in the IPO.
The company said it will use about Rs 120 crore raised from the IPO to reduce working capital loans.
Subscription Status: Day 1
The IPO was subscribed 0.17 times, or 17%, as of 5:00 p.m. on Dec. 13.
Institutional investors: 0 times.
Non-institutional investors: 0.39 times
Retail investors: 0.17 times
Employees: 1.20 times.