Landmark Cars IPO Subscription Status: Day 2 Live Updates


Subscriptions in TPG-backed premium car dealer Landmark Cars Ltd. continued on the second day of its initial public offering.

The offer was subscribed at 17% on day one.

The issue consists of a fresh issue of Rs 150 crore and an offer-for-sale of Rs 402 crore by selling shareholders at a price band of Rs 481–506 apiece in the IPO. The issue is worth Rs 552 crore.

The promoters and the promoter group will hold 48% of the post-offer issued and paid-up equity share capital. The offer for sale comprises 27.56% of the post-offer equity capital in the IPO.

The company said it will use about Rs 120 crore raised from the IPO to reduce working capital loans.


Image and article originally from Read the original article here.