Subscriptions in TPG-backed premium car dealer Landmark Cars Ltd. continued on the second day of its initial public offering.
The offer was subscribed 17% on day one.
The issue consists of a fresh issue of Rs 150 crore and an offer-for-sale of Rs 402 crore by selling shareholders at a price band of Rs 481–506 apiece in the IPO. The issue is worth Rs 552 crore.
The promoters and the promoter group will hold 48% of the post-offer issued and paid-up equity share capital. The offer for sale comprises 27.56% of the post-offer equity capital in the IPO.
The company said it will use about Rs 120 crore raised from the IPO to reduce working capital loans.
Subscription Status: Day 2
The IPO was subscribed 0.39 times, or 39%, as of 5:00 p.m. on Dec. 14.
Institutional investors: 0.09 times.
Non-institutional investors: 0.84 times
Retail investors: 0.36 times
Employees: 2.18 times.
Research Reports On Landmark Cars IPO
Play On Premium, Luxury Car Sales Domestically: ICICI Direct
Outlook, Strengths, Business Strategies, Key Risks, Financials: HDFC Securities
Investment Rationale, Key Strategies, Risks, Valuations, Financials: Anand Rathi
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