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

Landmark Cars IPO: Landmark Cars Limited’s initial public offering (IPO) will reach primary markets today and subscription to the public offering will remain open to bidders until December 15, 2022. The car dealership is aiming to raise 552 crore from its public offering, out of which 402 crore is reserved for OFS (offered for sale). The car company has set Landmark Cars IPO price range at 481 to 506 per equity.

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

Here we list key Landmark Cars IPO details in 10 points:

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

2]Landmark Cars IPO Price: The car dealership has a fixed price range of the IPO 481 to 506 each.

3]Landmark Cars IPO Subscription Status: At 12:14 AM on day 1 of the bidding, the public issue had been subscribed to 0.04 times, while the retail portion was subscribed to 0.07 times.

4]Landmark Cars IPO Size: The car dealership is aiming for an increase 552 crore from this public offering. Out 552 crore, 402 are reserved for OFS while 150 crore is targeted through the issue of new shares.

5]Landmark Cars IPO Lot Size: A bidder can apply for the IPO in lots and one lot of the public offering includes 29 shares of Landmark Cars.

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6]Landmark Cars IPO Application Limit: . private investor can apply for the IPO for a minimum of one lot and a maximum of 13 lots of the IPO.

7]Landmark Cars IPO Assignment Date: The completion of the share allocation is most likely on December 20, 2022.

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

9]Landmark Cars IPO List: The public offering is proposed for listing on BSE and NSE and the most likely share listing date is December 23, 2022.

10]Landmark Cars IPO Rating: Abhay Doshi, founder of UnlistedArena.com, said on whether or not to file for the IPO: “Landmark is India’s leading premium auto retail company. It is present across the entire auto retail value chain, including new vehicle sales, after-sales service and repairs , selling used passenger cars and facilitating the sale of financial and insurance products by third parties. The company’s strategy is to expand their after-sales service offerings to serve more customers and increase their higher margin service and repair income.”

The Marwadi Shares and Finance report gave the ‘subscribe’ tag to Landmark Cars IPO and said, “Given FY-22 adjusted earnings per share of Rs.16.72 based on issuance, the company will list at a P/E of 30.27x with a market cap of Rs 20,033. Leading automotive dealership for major OEMs with a strong focus on high-growth segments. Moreover, it is available at reasonable valuations considering the company’s future growth potential.”

disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. We recommend that investors check with certified experts before taking anything investment decisions.

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