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

Landmark Cars IPO: The initial public offering (IPO) of Landmark Cars Limited is going to hit primary markets today and subscription for the public issue will remain open for bidders till 15th December 2022. The auto dealer company aims to raise 552 crore from its public offer out of which ₹402 crore is reserved for OFS (offer for sale). The auto company has fixed Landmark Cars IPO price band at ₹481 to ₹506 per equity share.

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

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

1] Landmark Cars IPO: Shares of Landmark Cars are available at a premium of ₹31 in grey market today that means Landmark Cars IPO GMP today is ₹31.

2] Landmark Cars IPO price: The auto dealer company has fixed price band of the IPO at ₹481 to ₹506 apiece.

3] Landmark Cars IPO subscription status: By 12:14 PM on day 1 of bidding, the public issue has been subscribed 0.04 times whereas its retail portion has been subscribed 0.07 times.

4] Landmark Cars IPO size: The auto dealer company aims to raise ₹552 crore from this public issue. Out of ₹552 crore, ₹402 are reserved for OFS while ₹150 crore is aimed via issuance of fresh shares.

5] Landmark Cars IPO lot size: A bidder will be able to apply for the IPO in lots and one lot of the public issue comprises 29 Landmark Cars shares.

6] Landmark Cars IPO application limit: . retail investor can apply for the IPO for minimum one lot and maximum 13 lots of the IPO.

7] Landmark Cars IPO allotment date: Finalisation of share allocation is most likely on 20th December 2022.

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

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

10] Landmark Cars IPO review: On whether one should apply for the IPO or not, Abhay Doshi, Founder at UnlistedArena.com said, "Landmark is India's leading premium automotive retail company. It has a presence throughout the automotive retail value chain, including new vehicle sales, after-sales service and repairs, pre-owned passenger vehicle sales, and the facilitation of third-party financial and insurance product sales. The company's strategy is to broaden their after-sales service offering in order to serve more customers and increase their higher-margin service and repair revenues."

Giving 'subscribe' tag to Landmark Cars IPO, Marwadi Shares and Finance report said, "Considering the FY-22 adjusted EPS of Rs.16.72 on a post-issue basis, the company is going to list at a P/E of 30.27x with a market cap of Rs.20,033 Mn. There are no listed companies in India that engage in a business similar to that of Landmark Cars Limited," adding, "We assign a “Subscribe” rating to this IPO as the company is amongst the leading automotive dealership for major OEMs with a strong focus on high-growth segments. Also, it is available at reasonable valuations considering the future growth potential of the company."

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.