Landmark Cars Limited initiated its business operations in 1998. The company has a retail dealership of automobile brands like Honda, Volkswagen, Jeep, Mercedes-Benz and Renault. It is also involved in retail sales of commercial vehicle Ashok Leyland. The company is also involved in sales of new as well as pre-used vehicles. Combined the company has 112 outlets pan Indian in 18 states.
IPO DETAILS
Landmark Cars Limited IPO is set to launch on 13 Nov., 2022. The subscription timeline extends till 15 Nov., 2022. The size for the IPO is 552 Crore Rs.. Shares issued through Offer For Sale are worth 402 Crore Rs. Shares issued through Fresh Issue mode are worth Rs 150 Crore. The lot size is 29 shares and the price range is 481 Rs. – 506 Rs./ share. The company is going to get listed at both the exchanges NSE and BSE. The face value per share is Rs. 5 and this is a book built issue. The registrar for the company is Link Intime India Private Limited.
TABULAR REPRESENTATION OF IPO DETAILS
| IPO OPENING DATE | 13 Nov., 2022 |
| CLOSING DATE FOR IPO | 15 Nov., 2022 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 5 Rs. per share |
| IPO price band | 481 Rs. – 506 Rs. |
| LOT SIZE | 29 shares |
| MINIMUM ORDER QUANTITY | 29 shares |
| ISSUE SIZE | 522 Crore Rs. |
| OFFER FOR SALE | 402 Crore Rs. |
| FRESH ISSUE | 150 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 23 Dec., 2022 |
IMPORTANT DATES
| IPO OPENING DATE | 13 Dec., 2022 |
| CLOSING DATE FOR IPO | 15 Dec., 2022 |
| IPO ALLOTMENT DATE | 20 Dec., 2022 |
| REFUNDS | 21 Dec., 2022 |
| DEMAT A/C CREDITED ON | 22 Dec., 2022 |
| IPO LISTING DATE | 23 Dec., 2022 |
Landmark Cars Limited IPO begins for subscription from 13 Dec., 2022. The IPO subscription would continue till 15 Dec., 2022. The allotment status for the shareholders who applied would come on 20 Dec., 2022. The refunds for the ones who did not get allotment would be initiated on 21 Dec., 2022. The DEMAT accounts of shareholders would be credited on 22 Dec., 2022. The listing of the company would be accompanied on 23 Dec., 2022.
Lead Managers
The lead managers are :
- ICICI Securities Limited
- Axis Capital Limited
The minimum lot size for the company is decided at 29 shares. This holding accounts to 14674 Rs.. The maximum lot size is decided at 377 shares. This amounts to 190762 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 29 shares | 14674 Rs. |
| Maximum | 377 shares | 190762 Rs. |
OBJECTIVES FOR THE IPO
- The funds may be used for general corporate purposes.
- The money can be used for repayment of the company’s borrowings.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2019-20 | 2018-19 |
| ASSETS | 888 | 832 | 1008 |
| Revenue | 1966 | 2229 | 2835 |
| PAT | 11.15 | (-29) | (-25) |
Landmark Cars Limited has a terrible financial statement based on the assets and revenue generation. The company has an unstable asset base with the same being 1008 Crore Rs in 2018 and then coming down to 832 Crore Rs during the pre-COVID times. However the same was 888 Crore Rs in 2021. This can be the effect of the COVID Crisis. The revenues on the other hand also suggest the same results. The revenue was 2835 Crore Rs during the 2019 time.
However one cannot ignore the fact that the company is generating 1.8 times more revenue than it has in its assets which is an outstanding thing. In 2020 the revenue goes down to 2229 Crore Rs and then in 2021 it goes further down to 1966 Crore Rs. This suggests that maybe the company is focussing on keeping the assets in range and then maximising the results out of it.
One can notice the results in 2021 when the company achieved 11.15 Crore Rs as profits after 2 years of continuous losses. In 2019 the company incurred a loss of 25 Crore Rs which went up to 29 Crore Rs in 2020.
PROS
- The company has a retail dealership of automobile brands like Hona, Volkswagen, Jeep, Mercedes-Benz and Renault. These are one of the most premium and affordable brands available in Indian passenger vehicles.
- For commercial usage it is involved in retail sales of commercial vehicle Ashok Leyland.
CONS
- The company works in a competitive segment.
Landmark Cars Limited IPO APPLICATION PROCESS WITH ZERODHA
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform.
- Clicking the IPO link present in the Portfolio section.
- Click the Landmark Cars Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
