Luxurious auto retailer Landmark Group debuts on BSE at Rs 471

Landmark Automobiles, a premium and luxurious automotive pan-India dealership chain made its debut on the bourses on Friday. It was listed on the Bombay Inventory Trade (BSE) at Rs 471.30 per share, a 7% low cost to its problem value of Rs 506 per share. 

The corporate’s Rs 552-crore IPO was oversubscribed thrice over at a value vary of Rs 481–506 per share. The allotted certified institutional consumers (QIBs) have been subscribed roughly 9 occasions. 

The itemizing occurred on a day when the broad BSE Index slipped 1.61 p.c or 980.93 factors to shut at 59,845.29 factors and Landmark Automobiles inventory value closed at Rs 460 on the Friday’s buying and selling season.   

The corporate, often known as Group Landmark, is energetic all throughout the automotive retail worth chain, together with the sale of latest automobiles (for each private and business use), after-sales service and repairs (together with the sale of alternative components, lubricants, and equipment), and the procurement of used automobiles for private use. Moreover, additionally it is concerned within the sale of monetary companies supplied by outdoors corporations via its dealerships, together with financing for automobiles and insurance coverage insurance policies.

Landmark Automobiles, which commenced its enterprise in 1998 with the launch of the group’s first dealership for Honda in Ahmedabad, presently operates 112 shops, comprising 59 gross sales showrooms and 53 after-sales service and spare components shops unfold throughout 32 cities. Mercedes-Benz, Honda, Jeep, Volkswagen, Renault, and BYD are presently represented by the corporate. Round 30% of Landmark Automobile’s whole shops have been shaped utilizing the acquisition mannequin with a view to unfold into uncharted territories. 

As per Landmark Automobile’s prime management group, in the course of the fiscal 12 months 2022, the income contribution from gross sales of Volkswagen, Honda, Jeep, Mercedes, and Renault manufacturers of automobiles was Rs 220 crore, Rs 374 crore, Rs 556 crore, Rs 525 crore and Rs 242 crore, respectively. Throughout the identical interval, Landmark Group, which sells a variety of merchandise from business car large Ashok Leyland, had whole gross sales of Rs 387 crore. The corporate made no point out of gross sales from BYD, the world’s largest EV producer, with whom it lately signed a letter of intent for car gross sales. 

 

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