Landmark Cars IPO Details
Landmark Cars IPO open on December 13 and closes on December 15, 2022. According to the DRHP filed by the company with SEBI, they are planning to raise ₹ 552 Crore through this public issue. The issue consists of a fresh equity share of ₹ 150 crores and an offer sale of up to ₹ 402 crores.
With dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, and Renault, Landmark Cars Limited is a prominent premium car retailer in India. (Report by CRISIL, December 2021) Additionally, they support Ashok Leyland’s retail commercial vehicle operations in India.
The business is present across the entire value chain of the retail automotive industry, including new car sales, after-sales service and repairs (including the sale of spare parts, lubricants, and accessories), used car sales, and the facilitation of the sale of third-party financial and insurance products.
As of September 30, 2021, Landmark Cars will have grown its network to encompass 112 outlets in 8 Indian states, made up of 61 sales showrooms and outlets and 51 after-sales service and spare parts stores. Landmark Cars began operations and launched its first Honda dealership in 1998.
Firm with an emphasis on the luxury and premium car markets. In terms of new car sales volumes in India, they were the top dealer for Mercedes-Benz, Honda, Volkswagen, Stellantis (Jeep), and Volkswagen in fiscal 2021; they were also the third-largest dealer for Renault in fiscal 2021. (in fiscal 2020).
Objects of the Issue
The company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objects:
- Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company and Subsidiaries.
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | Period ended on 30th Sept 2021 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|
| Total Assets | 998.69 | 887.9 | 831.77 | 1008.03 |
| Net Worth | 208.55 | 181.78 | 169.12 | 187.96 |
| Revenue from operations | 1419.79 | 1966.34 | 2228.93 | 2834.62 |
| Profit After Tax | 27.95 | 11.15 | -28.94 | -24.43 |
| Total Borrowing | 408.84 | 327.44 | 357.91 | 478.78 |
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Why should you invest in the Landmark Cars Limited IPO?
- Premium market in India, in terms of sale volume, is expected to grow at a CAGR of 8% to 10% from approximately 2.7 million units in Fiscal 2021 to approximately 4.2 million units in Fiscal 2026 (Source: CRISIL Report, December 2021).
- They were number one dealer in India by sales volumes of new vehicles for Mercedes-Benz (in Fiscal 2021), Honda (in Fiscal 2021), Volkswagen (in CY 2020) and Stellantis (Jeep) (in Fiscal 2021), and company were the third largest dealer by sales volume for Renault (in CY2020).
Landmark Cars Limited IPO – Details
According to the DRHP filed by the company with SEBI, they are planning to raise ₹ 552 Crore through this public issue. The issue consists of a fresh equity share of ₹ 150 crores and an offer sale of up to ₹ 402 crores.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 481 to ₹ 506 per share |
| Employee Discount | 48 |
| Face Value | Rs 5 per share |
| Market Lot | 29 Shares |
| Issue Size | 10,909,091 shares of ₹ 5 (Aggregating up to ₹ 552 Crore) |
| Fresh Issue | 2,964,427 shares of ₹ 5 (Aggregating up to ₹150 Crore) |
| Offer for Sale | 7,944,664 shares of ₹ 5 (Aggregating up to ₹ 402 Crore) |
| QIB Shares Offered | Not more than 50% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| Listing At | BSE, NSE |
| Promoters | Sanjay Karsandas Thakker |
GMP Live – Landmark Cars IPO
Landmark Cars IPO GMP or Grey Market Premium are available here. The IPO GMP Premium updated day by day for IPOs running period and the GMP rates fluctuated and became stable some time later. The GMP rates are not 100% guaranteed. Please click here for live GMP.
Tentative Date – Landmark Cars IPO
| Opening Date | Dec 13, 2022 |
| Closing Date | Dec 15, 2022 |
| Basis of Allotment | Dec 20, 2022 |
| Initiation of Refunds | Dec 21, 2022 |
| Credit of Shares to Demat | Dec 22, 2022 |
| Listing Date | Dec 23, 2022 |
Lot Size – Landmark Cars IPO
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 29 | ₹ 14,674 |
| Retail (Max) | 13 | 377 | ₹ 190,762 |
| S-HNI (Min) | 14 | 406 | ₹ 205,436 |
| B-HNI (Min) | 69 | 2,001 | ₹ 1,012,506 |
Promoter Holding – Landmark Cars IPO
| Pre issue share holding | 60.24% |
| Post issue share holding | 44.61% |
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SWOT Analysis – Landmark Cars IPO
STRENGTH
- Leading automotive dealership for major OEMs with a strong focus on high growth segments.
- Growing presence in after-sales segment leading predictable growth in revenues and superior margins.
- Comprehensive business model capturing entire customer value-chain.
- Robust business processes leveraging technological innovation and digitalization.
- Experienced Promoter and professional management team with technical expertise.
WEAKNESS
- Company is subject to the significant influence of, and restrictions imposed by OEMs pursuant to the terms of our dealership or agency agreements that may adversely impact its business, results of operations, financial condition and prospects, including its ability to expand into new territories and acquire additional dealerships.
- Company large business concentrated in only two state, Gujrat and Maharashtra.
- Landmark Cars Limited business operations are dependent upon the success and continued financial stability of the OEMs with which they have dealership agreements.
- There are outstanding legal proceedings involving Company, Subsidiaries, Promoter and Directors, and adverse outcomes in such proceedings may negatively affect company business, results of operations and financial conditions.
OPPORTUNITY
- CRISIL Research expects the premium segment to grow at a CAGR of 10-12% CAGR from Fiscal 2021 to Fiscal 2026, while the luxury segment is expected to grow at a CAGR of 20-22% during the same period. (Source: CRISIL Report, December 2021).
THREAT
- Increasing competition among automotive dealerships through online and offline marketing and competition from the unauthorized service centers may have an adverse impact on company business, results of operations and financial condition.
- Changing in technology.
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Landmark House, Opp. AEC, S.G. Highway, Thaltej, Near Gurudwara, Ahmedabad 380 059, Gujarat, India Telephone: +91 79 6618 5555 Email: [email protected] Website: https://www.grouplandmark.in/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: [email protected] Website: https://linkintime.co.in/ |
| IPO Lead Manager(s) | Axis Capital Limited ICICI Securities Limited |
FAQ’s
What will be the Landmark Cars IPO lot size?
One lot of Landmark Cars IPO contains 29 shares.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors.
When will Landmark Cars IPO allotment be available?
The finalization of Basis of Allotment for Landmark Cars IPO will be done on December 20, 2022, and the allotted shares will be credited to your demat account by December 22, 2022. Check the Landmark Cars IPO allotment status.
When will Landmark Cars IPO list on exchanges?
The Landmark Cars IPO shares listing date is December 23, 2022.
How many shares in Landmark Cars IPO Offer are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII (HNI) – 15%, and Retail – 35%.
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