The firm, which is engaged in the dealership of four wheelers, plans to raise Rs 552 crore by issuing 10,909, 091 shares. Under the offer for sale OFS, the new issue will consist of 2,964, 427 shares worth 150 crore and 7,944, 664 shares worth Rs 402 crore.
The IPO will close on December 15. The company is offering its shares in a price band of Rs 481 to Rs 506 per share. The lot size of Landmark Cars IPO is 29 shares for which one will have to spend Rs 14,674. A retail individual investor can submit bids for up to 13 lots or 377 shares by spending Rs 1,90, 762.
Axis Capital Limited andICICI Securities Limited are the lead managers of the IPO. Link Intime is the registrar of the IPO. The allotment of shares will be done on December 20 and they are likely to be listed on the BSE and NSE on December 23.
The Company and Subsidiaries have repaid pre-payment of certain borrowings in full or in part.
The company has allocated 1 crore of shares to eligible employees, who will get a discount of 48 per share during the bidding process. A portion of less than 50 per cent of the net offer is reserved for qualified institutional buyers and retail investors who can bid for a minimum of 35% of the net offer.
Sanjay Karsandas Thakker is the promoter of the company. The promoter stake will change to 44.61% after the share sale, at 60.24% before the IPO.
Ashok Leyland is a company that caters to the commercial vehicle retail business in India.