Landmark Cars drives through with 3x demand on Final Day

Landmark Cars Limited are a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault has received bids of 2,46,45,186 shares against the offered 80,41,805 equity shares, at a price band of ₹481-506, according to the data available on the stock exchanges.

Overall the issue was subscribed 3.06 times on the final day of bidding led by QIB and Employee portion.

Qualified Institutional Buyer Portion was subscribed the most with 8.71 times followed by Employee portion that was subscribed 2.93 times. The reserved portion for Non-Institutional was subscribed 1.32 times. Retail portion was subscribed 0.59 times.

Axis Capital Limited and ICICI Securities Limited are the Book Running Lead Managers and Link Intime India Private Limited is the registrar to the Issue.

Source : Equity Bulls

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