Landmark Cars' shares debuted on the market on a weak note on Friday, trading nearly 7% lower than the issue price of Rs 506.
On the BSE, the stock began trading at a discount of 6.85%, or at Rs. 471.30. It fell another 11.76 percent to Rs 446.45.
The stock debuted on the NSE at Rs 471, a 6.91 percent decrease.
The company commanded a market valuation of Rs 1,829.16 crore on the BSE.
In the broader market, the 30-share BSE Sensex continued to remain under selling pressure for the fourth day running and tumbled 620.66 points to 60,205.56 in initial trade.
The Initial Public Offer (IPO) of Landmark Cars got subscribed 3.06 times last week.
The company's public offer had a price range of Rs 481-506 a share.
The IPO of Landmark Cars had a fresh issue of up to Rs 150 crore and an offer for sale of up to Rs 402 crore, aggregating up to Rs 552 crore.
Mercedes-Benz, Honda, Jeep, Volkswagen, and Renault dealerships are part of Landmark Cars, a top premium auto retail company in India backed by TPG.
