Luxury auto dealer group Landmark files DRHP for Rs 762 cr IPO

Luxury auto dealer group Landmark files DRHP for Rs 762 cr IPO

AgenciesUpdated: Wednesday, January 19, 2022, 03:50 PM IST
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The proceeds from its fresh issuance worth Rs 120 crore will be utilised for payment of debt and general corporate purposes. | Photo: Pixabay

Luxury auto dealer group Landmark Cars Ltd has filed preliminary prospectus with capital markets regulator SEBI to raise Rs. 762 crore through an initial public offering.

The public issue consists of a fresh issue of equity shares aggregating to Rs 150 crore and an Offer For Sale (OFS) of up to Rs 612 crore, according to the Draft Red Herring Prospectus (DRHP).

The proceeds from its fresh issuance worth Rs 120 crore will be utilised for payment of debt and general corporate purposes. The OFS comprises sale of shares worth up to Rs 400 crore by TPG Growth II SF PTE Ltd.

Axis Capital and ICICI Securities are the book running lead managers to the issue.

Landmark Cars recorded a profit of Rs 11.15 crore and total income of Rs 1,966.34 crore in FY21.

(With inputs from PTI)

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