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IPO

Landmark Cars Raises Rs 165 Crore Via Anchor Book Ahead of IPO

Picture Source: Internet

Premium and luxury branded car retailer Landmark Cars has raised Rs 1,653 crore through anchor books ahead of its IPO on December 12.

In a regulatory filing to the BSE, the company said it eventually allocated 3.266 million shares to anchor investors at Rs 506 each, the upper end of the price range.

A total of 14 investors invested in the company through the main book, including HDFC Mutual Fund, Nippon Life India, Goldman Sachs, Aditya Birla Sun Life, Pinebridge Global Funds, Edelweiss, Maven India Fund, BNP Paribas Arbitrage, Resonance Opportunities Fund and Morgan Stanley.

“Of the anchor investor’s total allocation, 14.22 lakh shares were allocated to 4 domestic mutual funds through a total of 4 schemes,” the company said.

The company seeks to raise Rs 552 crore through its IPO of Rs 1.09 crore shares, comprising a fresh issue of Rs 150 crore and a sale offer of Rs 402 crore from selling shareholders.

The price range for the offer, which started on December 13, is Rs 481-506 per share. The IPO will close on December 15.

Landmark Cars owns the dealership rights for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault and also caters to commercial vehicle retail in Ashok Leyland, India.

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