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All that you should know about the Company before applying for the IPO.

December 10, 2022     

The public issue of equity shares of LANDMARK CARS LIMITED will open for subscription on December 13, 2022 and closes on December 15, 2022. It is expected to list on the stock exchanges on December 23, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.

Company Profile

Incorporated in 2006, the company is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, and Renault. They also cater for the commercial vehicle retail business of Ashok Leyland in India.

The company has a presence across the automotive retail value chain, including sales of brand-new vehicles, after-sales service, and repairs (including sales of spare parts, lubricants, and accessories), sales of pre-owned passenger vehicles and facilitation of the sales of third-party finance and insurance products.

They were the number one dealer in India for Mercedes in terms of retail sales for fiscal 2022, the number one dealer in India for Honda and Jeep in terms of wholesale sales for fiscal 2022 . In addition, they were the top contributor to Volkswagen retail sales and 3rd largest dealership in India for Renault in terms of wholesale sales contribution for the calendar year 2021.

As of June 30, 2022, the company has a network of 112 outlets in 8 Indian states and union territories, comprised of 59 sales showrooms and outlets and 53 after-sales service outlets. Their vehicle dealership network is spread across 32 cities in 8 states and union territories. These include Maharashtra, Uttar Pradesh, Gujarat, Haryana, Madhya Pradesh, Punjab, West Bengal, and the National Capital Territory of Delhi.

Their after-sales service and spare parts offerings comprise repair and collision repair services and include both warranty work, insurance claim work and customer-paid services. Under their pre-owned passenger vehicles business, they buy and sell pre-owned passenger vehicles at each of their dealerships and operate on 2 business models:

  • They facilitate the sale of used vehicles through their appointed panel of agents on a commission basis
  • They also list the vehicles for sale on their books after any needed refurbishments

Who are the Promoters of the Company?

Mr. Sanjay Karsandas Thakker

Positives about the Company

  • 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

Who are its listed peers?

There are no listed peers in India

Why is the Company going public?

Given below are the objectives of the Company –

The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding of the following objects:

  • Pre-payment, in full or in part, of borrowings availed by its Subsidiaries
  • General Corporate Purposes

IPO Details

IPO Size ₹ 552 Crore
Offer Mix Fresh Issue ₹ 150 + Offer For Sell ₹ 402
Price Band ₹ 481 - ₹ 506
Lot Size 29 Shares (& in multiples thereof)
Face Value ₹ 5
Application Amount Min. ₹ 14,674 (1 lot) | Max. ₹ 1,90,762 (13 lots) [at upper price band]
Listing on NSE & BSE
Registrar Link Intime India Private Limited
Cut-off time for UPI Mandate Confirmation 15-December-2022 (up to 05:00 PM)

Category Wise Availability

QIB ₹ 275.50 Crore
(50% of the Net Issue)
NIB ₹ 82.65 Crore
(15% of the Net Issue)
Retail ₹ 192.85 Crore
(35% of the Net Issue)
Employee Reservation Portion ₹ 1.00 Crore

Indicative Issue Timeline

Activity Date
IPO Opens December 13, 2022
IPO Closes December 15, 2022
Finalization of the basis of allotment December 20, 2022
Unblocking of funds / Initiation of refunds December 21, 2022
Credit of equity shares to Demat accounts December 22, 2022
Listing of equity shares December 23, 2022
Source: Company RHP  Alternate Text


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