New Delhi. Ahmedabad based car dealership company that deals in new and used premium cars in Gujarat has today submitted Draft Red Herring Prospectus (DRHP) to SEBI with an aim to float IPO of Rs 762 crore. Looking at the company’s records and reports, it seems that the company is going to get a good subscription.
As per records, this Ahmedabad based company has branches in many parts of the country. Landmark Cars Limited is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. As per records, its authorized share capital is Rs 27.05 crore and total paid-up capital is Rs 18.31 crore. The operating revenue limit of Landmark Cars Limited for the financial year ending March 31, 2021 is over Rs 500 crore.
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The company has filed for IPO of Rs 762 crore in DRHP presented in SEBI today. According to the draft papers submitted to Sebi, the issue comprises fresh issue of equity shares worth Rs 150 crore and Offer for Sale (OFS) of up to Rs 612 crore.
Offer for sale includes up to Rs 400 crore by TPG Growth SF Pte Ltd, up to Rs 62 crore by Sanjay Karsandas Thakkar HUF, up to Rs 120 crore by Aastha Ltd and up to Rs 30 crore by Garima Mishra. The DRHP offer also includes reservation for membership by eligible employees.
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Also, the issue of equity shares of the company amounting to Rs 150 crore, out of the fresh issue, the proceeds of Rs 120 crore to be used for the purpose of repayment or prepayment of all or all or certain debts in whole or in part for general corporate purposes. has been said.
At present, SEBI will closely monitor the DRHP proposal of the company. After that the subscription for the company’s IPO will start as per the shares recognized by SEBI, which is normally open for three days. After that the process of listing of company shares in the market will start.
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