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Landmark Cars IPO

Car dealership chain Landmark Cars aims to file a DRHP with SEBI to raise more than ₹750 crore from the primary markets. It would be the biggest car r...

  • Status: Closed
  • RHP:
  • ₹ 13,949 / 29 shares

    Minimum Investment

IPO Details

  • Open Date

    13 Dec 2022

  • Close Date

    15 Dec 2022

  • IPO Price Range

    ₹ 481 - 506

  • IPO Size

    ₹ 552 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    23 Dec 2022

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IPO Timeline

Last Updated: 20 December 2022 12:05 PM by 5Paisa

Car dealership player, Landmark Cars Limited IPO worth Rs. 552 crores open on 13th December and closes on 15th December. 
The issue consists of a fresh issue of equity shares aggregating to ₹150 crores and an offer for sale (OFS) of up to ₹402 crores. The price band for the issue is fixed at Rs. 481 – Rs. 506 per share while the GMP premium is trading at Rs. 55. The lot size is set for 29 shares per lot. The shares will be allotted on 20th December and the issue will be listed on 23rd December on the stock exchanges. 
The book running lead managers to the offer namely, Axis Capital Limited and ICICI Securities Limited

Objective of Landmark Cars IPO

The proceeds from the issue will be used for: 
1.    to utilise for repayment/pre-payment, partly or full, of certain borrowings availed by it
2.    General corporate purposes
 

Landmark Cars IPO Video

Group Landmark, which was founded by Sanjay Thakker in 1997, also runs an insurance broking business and employs more than 3,000 people.
Landmark Cars, based out Ahmedabad, has over 100 dealerships across the country for brands including Mercedes-Benz, Honda, Jeep, Volkswagen and Renault.  It also caters to the commercial vehicle retail business of Ashok Leyland in India
The auto dealership business of Landmark Cars is spread across 29 cities in places such as Gujarat, West Bengal, Maharashtra, Madhya Pradesh, Delhi, and Punjab. The group recently announced its association with China-based electric vehicle (EV) manufacturer BYD for the sale and after-sales services of its EVs in India.
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
in Fiscal 2021, it sold 13,282 new vehicles including new passenger vehicles of Mercedes-Benz, Honda, Volkswagen, Jeep and Renault and new commercial vehicles of Ashok Leyland
It also provides after-sales service and spare parts. The offerings at each of its dealerships comprise repair and collision repair services and include both warranty work, insurance claim work and customer paid services.
The company also deals in buying and selling of pre-owned passenger vehicles

 

Know About: Landmark Cars IPO GMP

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 2976.5 1956.1 2218.6
EBITDA 187.3 120.1 83.2
PAT 66.2 -11.1 -28.9
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 1085.4 887.9 831.8
Share Capital 18.3 18.3 18.3
Total Borrowings 308.5 327.4 357.9
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 76.4 42.8 209.7
Net cash from / (used in) investing activities -33.9 -22.0 -65.9
Net cash flow from / (used in) financing activities -37.5 -33.4 -148.3
Net increase (decrease) in cash and cash equivalents 5.0 -12.7 -4.5

Peer Comparison

There are no listed companies in India that engage in a business similar to that of the company. 


Strengths:

1.    Leading automotive dealership for major OEMs with a strong focus on high growth segments
2.    Growing presence in after-sales segment leading predictable growth in revenues and superior margins
3.    Robust business processes leveraging technological innovation and digitalization
4.    Comprehensive business model capturing entire customer value-chai

Risks:

1.    It is subjected to the significant influence of, and restrictions imposed by OEMs pursuant to the terms of its dealership or agency agreements that may adversely impact the business
2.    Success depends on the value, perception, marketing and overall competitiveness of the OEMs’ vehicle brands in India
3.    The decision by any of the OEMs not to renew, to terminate or to require adverse material modifications to any of its dealership or agency agreements entered into with them could have a material effect.
4.    Increasing competition among automotive dealerships through online and offline marketing and competition from the unauthorized service centres may have an adverse impact on the business.

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FAQs

The price band of Landmark Cars IPO is fixed at Rs. 481 to Rs. 506 per share.

The Landmark Cars issue opens on 13th December and closes on 15th December.    

The Landmark Cars IPO comprise of a fresh issue of equity shares aggregating to ₹150 crores and an offer for sale (OFS) of up to ₹402 crores. 

The allotment date for Landmark Cars IPO is 20th December

The listing date for Landmark Cars IPO is 23rd December.

The Landmark Cars IPO lot size is 29 shares. A retail-individual investor can apply for up to 13 lots (377 shares or ₹190,762)

The proceeds from the issue will be used for: 
1.    To utilise crore for repayment/pre-payment, partly or full, of certain borrowings availed by it
2.    General corporate purposes
 

To apply for Landmark Cars IPO, follow the steps given below
•    Login to your 5paisa account and select the issue in the current IPO section
•    Enter the number of lots and price at which you wish to apply for
•    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
•    You will receive a mandate notification to block funds in your UPI app

Landmark Cars is promoted by Sanjay Thakker

Axis Capital Limited and ICICI Securities Limited are the book running lead managers to the issue.