Landmark Cars IPO listing today. Experts predict 'flat' debut of shares
Landmark Cars IPO listing date has been fixed on 23rd December 2022
PremiumLandmark Cars IPO: Shares of Landmark Cars Limited are going to list on BSE and NSE on 23rd December 2022 i.e. today. As per the information available on BSE website, effective from Friday, December 23, 2022, the equity shares of Landmark Cars Limited shall be listed and admitted to dealings on the exchange in the list of 'B' group of securities.
According to stock market experts, the issue is fully priced with a PE multiple at around 28. They said that in current market condition it won't be fair to expect much from the public issue and expected flat to discounted listing of the IPO. They said that in case of weak market opening, we may see Landmark Cars shares listing at around 5-7 per cent discount.
Speaking on Landmark Cars IPO listing, Pravesh Gour, Senior Technical Analyst at Swastika Investmart said, "Landmark Cars Ltd (LCL): It is a leading premium automotive retail business in India, with dealerships for major OEMs. The company is also growing its presence in the after-sales segment. Its comprehensive business model captures the entire customer value chain and focuses on the expansion of its overall business with experienced promoters and business leadership."
Expecting fair to discounted listing of Landmark Cars IPO, Pravesh Gour of Swastika Investmart said, "The issue had received a good response from investors on both the institutional and retail sides, but the current GMP is Rs. (-5) over its issue price because of huge competition, and the company still needs to reduce debt. The issue has been fully priced, with a P/E ratio of around 28. Looking at the current market conditions, it will not be fair to expect much from its listing."
Expecting Landmark Cars share listing at a discounted price, Ravi Singhal, CEO at GCL Securities said, "Landmark Cars Limited has a good business model but company's debt are high. Looking at the current stock market sentiments, we may witness Landmark Cars IPO listing at a discounted price." Ravi Singhal of GCL Securities said that Landmark Cars shares may list at around 5-7 per cent discount. He said that Landmark Cars share price may open in the range of ₹480 to ₹470 per share.
What Landmark Card IPO GMP signals
According to market observers, shares of Landmark Card Limited are available at a discount of ₹5. This means grey market is signaling that Landmark Cars share may list around ₹500 apiece levels.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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