Private Equity Liquidity Events
Automobile retailer Landmark Cars IPO subscribed 3.06 times
The initial public offering (IPO) of premium automobile retailer Landmark Cars has garnered bids for 2.46 crore shares against the IPO size of 80.41 lakh shares, a subscription of 3.06 times. The public issue comprises a fresh issue of INR 150 crore, and an offer for sale of INR 402 crore. The fresh funds will be used for repaying INR 464 crore debt.
The company has a network of 112 outlets and dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault in India and a commercial vehicle dealership with Ashok Leyland.
From the Venture Intelligence PE-VC Deal Database: Between 2014 and 2015, Landmark Group had raised over USD 18 M from TPG Growth (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)