 |
| LANDMARK
CARS LIMITED |
Our Company was orignally incorporated as "Landmark Insurance
Broking Private limited" at Mumbai, Maharashtra as a private limited company under
the Companies Act, 1956. pursuant to a certificate of incorporation dated February 23,
2006 issued by the Registrar of Companies, Maharashtra at Mumbai ("RoC, Mumbai").
The name of our Company was subsequently changed to "Landmark Cars Private
Limited" pursuant to a fresh certificate of incorporation granted by the RoC, Mumbai
on May 6, 2009. Subsequently, our Company was converted into a public limited company
under the Companies Act 2013, pursuant to the approval accorded by our Shareholders at
their extra-ordinary general meeting held on November 10, 2021. Consequently, the name of
our Company was changed to "Landmark Cars Limited" and a fresh certificate of
incorporation consequent upon conversion from a private lirnited company to a public
United company was issued to our Company by the Registrar of Companies, Gujarat Dadra
& Nagar Haveli at Ahmedabad ("RoC") on December 3, 2021. For further
details relating to the changes in the name of our Company and toe registered office of
our Company, see "Hslory and Certain Corporate Matters' on page 221 of the prospectus
of the Company dated December 16, 2022 Bed with the RoC (‘Prospectus')
| Corporate Identity
Number: U50100GJ2006PLC058553; Website: www.grouplandmark.in |
| Registered
Office: Landmark House, Opp. AEC. S.G. Highway, Thaltej, Near Gurudwara, Ahmedabad 380
059, Gujarat. India; Telephone: +91 79 6618 5555; Corporate Office: Unit No.
201 to 203, Landmark, V Floor, G. M. Bhosale Marg, Worli, Mumbai 400 018, Maharashtra,
India. |
| Contact Person:
Amol Arvind Raje, Company Secretary and Compliance Officer: Telephone: +91 22 6271
9040; E-mail: companysecretary@landmarkindia.net |
| THE PROMOTERS OF
OUR COMPANY IS SANJAY KARSANDAS THAKKER |
Our Company has field the Prospectus dated December 16, 2022 with the
RoC, and the Equity Snares are proposed to be listed on the National Stock Exchange of
India Limited ("NSE") and BSE Limited (‘BSE") and trading is expected
to commence on December 23, 2022.
INITIAL PUBLIC OFFERING OF 10,911,160 EQUITY SHARES OF FACE VALUE OF
Rs. 5 EACH ("EQUITYSHARES") OF OUR COMPANY FOR CASH AT A PRICE OF Rs. 506 PER
EQUITY SHARE (INCLUDING ASHARE PREMIUM OF Rs. 501 PER EQUITY SHARE) ("OFFER
PRICE") AGGREGATING TO Rs. 5,520.00 MILLION ("OFFER"). THE OFFER COMPRISED
OF FRESH ISSUE OF 2,966,498 EQUITY SHARES AGGREGATING TO Rs. 1,500.00 MILLION ("FRESH
ISSUE") AND AN OFFER FOR SALE OF Rs. 7,944,662 EQUITY SHARES ("OFFERED
SHARES") AGGREGATING TO Rs. 4,020.00 MILLION, AS PER THE TABLE PROVIDED BELOW:
| NAME
OF SELLING SHAREHOLDER |
TYPE |
NUMBER
OF SHARES OFFERED/ AMOUNT ( IN MILLION) |
| TPG Growth II SF PTE. LTD. |
Investor
Selling Shareholder |
6,422,924
Equity Shares aggregating to Rs. 3,250.00 Million |
| Aastha Limited |
Other
Selling Shareholder |
1,225,296
Equity Shares aggregating to Rs. 620.00 Million |
| Sanjay Karsandas Thakker HUF |
Other
Selling Shareholder |
197,628
Equity Shares aggregating to Rs. 100.00 Million |
| Garima Misra |
Individual
Selling Shareholder |
98,814
Equity Shares aggregating to Rs. 50.00 Million |
THE OFFER INCLUDED A RESERVATION OF 21,834 EQUITY SHARES AGGREGATING TO
Rs. 10.00 MILLION (CONSTITUTING UP TO 0.06 % OF THE POST-OFFER PAID-UP EQUITY SHARE
CAPITAL OF OUR COMPANY) FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE
RESERVATION PORTION"). OUR COMPANY AND THE SELLING SHAREHOLDERS. IN CONSULTATION WITH
THE BRLMs, OFFERED A DISCOUNT OF 9.49% TO ELIGIBLE EMPLOYEES BIDDING IN THE EMPLOYEE
RESERVATION PORTION ("EMPLOYEE DISCOUNT"). THE OFFER LESS THE EMPLOYEE
RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER ". THE OFFER
AND THE NET OFFER SHALL CONSTITUTE 27.56% AND 27.50%, RESPECTIVELY, OF THE POST-OFFER
PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY, RESPECTIVELY.
| ANCHOR INVESTOR
OFFER PRICE: Rs. 506 PER EQUITY SHARE OF FACE VALUE OF Rs. 5 EACH |
| OFFER PRICE: Rs.
506 PER EQUITY SHARE OF FACE VALUE OF Rs. 5 EACH |
| THE OFFER PRICE
IS 101.2 TIMES OF THE FACE VALUE OF EQUITY SHARES |
| Risks to
Investors: |
|
|
The Company
had reported a loss after tax of Rs. 289.39 million in Fiscal 2020 and may incur
additional losses in the future. This was due to the decrease in revenue of 21.51% and new
vehicle sales by 24.36%, which were primarily attributable to the higher discounts offered
to customers to sell entire stock of Bharat Emission Stage IV engine vehicles and effects
from the COVID-19 pandemic. |
|
|
The Offer
Price, market capitalization to revenue multiple and price to earnings ratio on the Offer
Price of our Company and return on net worth may not be indicative of the market price of
the Equity Shares on listing or thereafter. |
| Market capitalization to total income (Fiscal 2022) multiple at the
upper end of Price Band (number of times) |
Price to Earnings Ratio (based on Fiscal 2022 restated profit after tax for the
year and on diluted EPS) at the upper end of Price Band (number of times) |
Nifty Fifty P/E ratio* |
Nifty Auto Index P/E ratio* |
Weighted average return on networth (%) |
| 0.67 |
29.00 |
22.47 |
39.03 |
12.51 |
*as on December 5, 2022
|
|
Our return on
equity ratio and return on capital employed have fluctuated in the three months ended June
30,2022 and in Fiscal 2022, Fiscal 2021 and Fiscal 2020. In the three months ended June
30, 2022 and in Fiscal 2022, Fiscal 2021 and Fiscal 2020, our ROE was 6.72%, 26.66%, 6.11%
and (17.03%), respectively, and our ROCE was 3.67%, 18.86%, 8.59% and 1.67%, respectively.
We may net be able to maintain higher ROE and ROCE in the future. |
|
|
The Company is
subject to the significant influence of, and restrictions imposed by OEMs pursuant to the
terms of our dealership or agency agreements. Our dealership agreements with Honda,
Volkswagen, Jeep, Renault and Ashok Leyland and our agency agreement with Mercedes-Benz
will expire within the next three years. Their contribution to the total Revenue from sale
of cars during the three months ended June 30, 2022 and Fiscal 2022 was 74.47% and 77.40%,
respectively. We may not be able to renew these agreements on attractive terms or at all
which may significantly impact our revenues. |
|
|
Geographical
Concentration Risk: Our business operations are concentrated in the states of Gujarat and
Maharashtra. In the three months ended June 30, 2022 and in Fiscal 2022, Fiscal 2021 and
Fiscal 2020, 50.32%, 50.64%, 52.41% and 52.25% of our number of new vehicles sold and
49.41%, 48.77%, 50.77% and 47.87% of our total consolidated revenue from safe of cars was
derived from dealership operations in Gujarat and 22.59%, 24.50%, 24.61% and 23.60% of our
vehicle sales and 20.88%, 25.54%, 23.47% and 25.12% of our total consolidated revenue was
derived from dealership operations in Maharashtra. |
|
|
Competition
Risk: Most of our dealership agreements do not grant us the exclusive right to sell
vehicles manufactured by the OEMs within a given geographic area. We may not be able to
expand into new territories where other dealers have exclusive dealerships. |
|
|
The weighted
average cost of acquisition of all Equity Shares transacted in the three years preceding
the date of the Red Herring Prospectus is as follows: |
| Past transactions |
Weighted average cost of acquisition per Equity Share (in Rs.) |
Lower End of the "Price Band" with "Floor Price" (Rs. 481) is
'X' times the Weighted average cost of acquisition |
Upper End of the "Price Band" with "Cap Price" (Rs. 506) is
‘X’ times the Weighted average cost of acquisition |
| Last 3 years |
149.85A |
3.21 |
3.38 |
^
The weighted average cost of acquisition has been calculated in
the table above after giving effect to the sub- division of the face value of the equity
shares of the Company from Rs. 10 each to Rs.5 each.
|
|
Average cost of
acquisition of Equity Shares held by the Selling Shareholders ranges from Rs. 3.30 to Rs.
137.42 per Equity Share and Offer Price at upper end of the Price Band is Rs. 506 per
Equity Share. |
|
|
The weighted
average cost of acquisition of all Equity Shares transacted in the three years preceding
the date of the Red Herring Prospectus is as follows: |
| Past transactions |
Weighted
average cost of acquisition per Equity Share (for Rs.) |
Lower
End of the "Price Band" with "Floor Price" (Rs. 481) is "X"
Scheme the Weighted average cost of acquisition |
Upper
End of the "Price Band" with "Cap Price" (Rs.506) is "X"
Scheme the Weighted average cost of acquisition |
| TPG GROWTH II SF PTE. LTD. |
137.42 |
3.50 |
3.68 |
| AASTHA LIMITED |
9.36 |
51.39 |
54.06 |
| SANJAY KARSANDAS THAKKER HUF |
3.30 |
145.76 |
153.33 |
| GARIMA MISRA |
3.30 |
145.76 |
153.33 |
|
|
The two BRLMs
associated with the Offer have handled 69 public issues in the past three years, out of
which 24 issues closed below the Offer Price on listing date. |
| Name of BRLMs |
Total
Issues |
Issues
closed below IPO Price on listing date |
| Axis Capital Limited* |
22 |
6 |
| ICICI Securities Limited* |
24 |
5 |
| Common issues of above BRLMs |
23 |
13 |
| Total |
69 |
24 |
* Issues handled where there were no common BRLMs
| BID / OFFER PROGRAMME |
ANCHOR INVESTOR BIDDING PATE MONDAY, DECEMBER 12, 2022 |
| BID/OFFER OPENED ON TUESDAY, DECEMBER 13, 2022 |
| BID/OFFER CLOSED ON THURSDAY, DECEMBER 15, 2022 |
This Offer has been made through the Book Building Process, in terms of
Rule 19(2)(b) of the Securities Contracts (Regulation) Rules. 1957, as amended ("SCRR")
read with Regulation 31 of the SEBIICDR Regulations and in compliance with Regulation 6(1)
of the SEBI ICDR Regulations wherein not more than 50% of the Net Offer was made available
for allocation on a proportionate bass to Qualified Institutional Buyers ("QIBs")
(the "QIB Portion"). Our Company and the Selling Shareholders, in
consulting with the BRLMs allocated up to 60% of the QIB Portion to Anchor Investors on a
discretionary basis (‘Anchor Investor Portion'). One-third of the Anchor Investor
Portion was reserved for domestic Mutual Funds, subject to valid Bids received from the
domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with
the SEBI ICDR Regulations. Further, 5% of the Net QIB Portion was made available for
allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB
Portion was made available for allocation on a proportionate basis to art QIB Bidders,
including Mutual Funds, subject to valid Bids received at or above the Offer Price.
Further, not less than 15% of the Net Offer was made available for allocation to
Non-Institutional Investors ("Non-Institutional Portion") of which
one-Third of the Non-Institutional Portion was made available for allocation to Bidders
with an application size of more than Rs. 200,000 and up to Rs. 1,000,000 and two-thirds
of the Non- Institutional Portion was made available for allocation to Bidders with an
application size of more than Rs. 1.000.000 and under-subscription in either of these two
sub-categories of Non- Institutional Portion may be allocated to Bidders in the other
sub-category of Non- Institutional Portion in accordance with the SEBI ICDR Regulations,
subject to valid Bids being received at or above the Offer Price. Further, not less than
35% of the Net Offer was made available for allocation to Retail Individual Investors ("Retail
Investor Portion") in accordance with the SEBI ICDR Regulations, subject to valid
Bids received from them at or above the Offer Price. Further, Equity Shares would be
allocated on a proportionate basis to Eligible Employees applying under the Employee
Reservation Portion, subject to valid Bids received from them at or above the Offer Price.
All Bidders, other than Anchor Investors, were required to participate in the Offer by
mandatorily utilising the Application Supported by Blocked Amount ("ASBA")
process by providing details of their respective ASBA Acoounts, and UPI ID in case of UPI
Bidders using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts
were blocked by the Self Certified Syndicate Banks ("SCSBs") or by the
Sponsor Banks under UPI Mechanism, as the case may be, to the extent of respective Bid
Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA
process. For details, see "Offer Procedure" on page 420. of the Prospectus.
The bedding for Anchor Investor opened and closed on Monday. December
12, 2022. The Company received 14 applications from 13 Anchor Investors (induding 4
domestic Mutual Funds through 4 Mutual Fund schemes) for 3,695,731 Equity Shares. The
Anchor Investor Offer Price was finalized at Rs. 506 per Equity Share. A total of
3,266,797 Equity Shares were allocated under the Anchor Investor Portion aggregating to
Rs. 1,652,999,282.
The Offer received 62,696 applications for 28,352.836 Equity Shares
(prior to technical rejections) resulting in 2.5985 times subscription.
The details of the applications received in the Offer from Retail
Individual Bidders. Non-Institutional Bidders and QIBs are as under (before technical
rejections):
| SI. no. |
Category |
No
of Applications applied |
No.
of Equity Shares |
Shares
Reserved as per Prospectus |
No.
of times Subscribed |
Amount
(Rs.) |
| 1 |
RETAIL |
60,785 |
2,362,746 |
3,811,265 |
0.6199 |
1,195,416,598.00 |
| 2 |
HNI
PTO 10 LAC |
724 |
449,732 |
544,467 |
0.8260 |
227,425,279.00 |
| 3 |
HNI
ABOVE 10 LAC |
219 |
1,816,676 |
1,088,932 |
1
6683 |
919,111,181.00 |
| 4 |
EMPLOYEE |
940 |
68,092 |
21,834 |
3.1186 |
31,175,406.00 |
| 5 |
QIB |
14 |
19,959,859 |
2,177,865 |
9.1649 |
10,099,688,654.00 |
| 6 |
ANCHOR |
14 |
3,695,731 |
3,266,797 |
1.1313 |
1,870,039,886.00 |
|
TOTAL |
62,696 |
28,352,836 |
10,911,160 |
2.5985 |
14,342,857,004.00 |
Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Offer
Closing Date at different Bid prices is as under.
| Sr. No |
Bid
Price |
No.
of Equity Shares |
%
to Total |
Cumulative
Total |
Cumulative
% of Total |
| 1 |
481 |
61,509 |
0.22 |
61,509 |
0.22 |
| 2 |
482 |
8,845 |
0.03 |
70,354 |
0.25 |
| 3 |
483 |
957 |
0.00 |
71,311 |
0.25 |
| 4 |
484 |
319 |
0.00 |
71,630 |
0.25 |
| 5 |
485 |
7,424 |
0.03 |
79,054 |
0.28 |
| 6 |
486 |
1,653 |
0.01 |
80,707 |
0.29 |
| 7 |
487 |
783 |
0.00 |
81,490 |
0.29 |
| 8 |
488 |
174 |
0.00 |
81,664 |
0.29 |
| 9 |
489 |
290 |
0.00 |
81,954 |
0.29 |
| 10 |
490 |
9,831 |
0.03 |
91,785 |
0.32 |
| 11 |
491 |
1,102 |
0.00 |
92,887 |
0.33 |
| 12 |
492 |
1,218 |
0.00 |
94,105 |
0.33 |
| 13 |
493 |
522 |
0.00 |
94,627 |
0.33 |
| 14 |
494 |
754 |
0.00 |
95,381 |
0.34 |
| 15 |
495 |
5,278 |
0.02 |
100,659 |
0.36 |
| 16 |
496 |
2,465 |
0.01 |
103,124 |
0.36 |
| 17 |
497 |
348 |
0.00 |
103,472 |
0.37 |
| 18 |
498 |
493 |
0.00 |
103,965 |
0.37 |
| 19 |
499 |
464 |
0.00 |
104,429 |
0.37 |
| 20 |
500 |
7,743 |
0.03 |
112,172 |
0.40 |
| 21 |
501 |
3,915 |
0.01 |
116,087 |
0.41 |
| 22 |
502 |
435 |
0.00 |
116,522 |
0.41 |
| 23 |
503 |
377 |
0.00 |
116,899 |
0.41 |
| 24 |
504 |
1,479 |
0.01 |
118,378 |
0.42 |
| 25 |
505 |
3,683 |
0.01 |
122,061 |
0.43 |
| 26 |
506 |
23,040,848 |
81.40 |
23,162,909 |
81.84 |
| 27 |
CUT-OFF |
5,141,410 |
18.16 |
28,304,319 |
100.00 |
|
TOTAL |
28,304,319 |
100.00 |
|
|
The Basis of Allotment was finalized in consultation with the
Designated Stock Exchange, being BSE on December 20, 2022.
| A. |
Allotment to Retail
Individual Bidders (After Technical Rejections) (including ASBA Applications) The Basis of Allotment to the Retail
Individual Bidders, who have bid at cut-off or at the Offer Price of Rs. 506 per Equity,
was finalized in consultation with BSE. This category has been subscribed to the extent of
0.59 times. The total number of Equity Shares Allotted in Retail Individual Bidders
category is 2,255,098 Equity Shares to 58.088 successful applicants. The category-wise
details of the Basis of Allotment are as under: |
| Sr. No. |
Category |
No.
of Applications Received |
%
of Total |
Total
No. of Equity Shares applied |
%
to Total |
No.
of Equity Shares Allotted per Bidder |
Ratio |
Total
No. of Equity Shares allotted |
| 1 |
29 |
52,044 |
89.60 |
1,509,276 |
66.93 |
29 |
1:1 |
1,509,276 |
| 2 |
58 |
3,051 |
5.25 |
176,958 |
7.85 |
58 |
1:1 |
176,958 |
| 3 |
87 |
939 |
1.62 |
81,693 |
3.62 |
87 |
1:1 |
81,693 |
| 4 |
116 |
462 |
0.80 |
53,592 |
2.38 |
116 |
1:1 |
53,592 |
| 5 |
145 |
326 |
0.56 |
47,270 |
2.10 |
145 |
1:1 |
47,270 |
| 6 |
174 |
157 |
0.27 |
27,318 |
1.21 |
174 |
1:1 |
27,318 |
| 7 |
203 |
182 |
0.31 |
36,946 |
1.64 |
203 |
1:1 |
36,946 |
| 6 |
232 |
53 |
0.09 |
12,296 |
0.55 |
232 |
1:1 |
12,296 |
| 9 |
261 |
37 |
0.06 |
9,657 |
0.43 |
261 |
1:1 |
9,657 |
| 10 |
290 |
156 |
0.27 |
45,240 |
2.01 |
290 |
1:1 |
45,240 |
| 11 |
319 |
16 |
0.03 |
5,104 |
0.23 |
319 |
1:1 |
5,104 |
| 12 |
348 |
33 |
0.06 |
11,484 |
0.51 |
348 |
1:1 |
11,484 |
| 13 |
377 |
632 |
1.09 |
238,264 |
10.57 |
377 |
1:1 |
238,264 |
|
TOTAL |
58,088 |
100.00 |
2,255,098 |
100.00 |
|
|
2,255,098 |
| B. |
Allotment to
Non-Institutional Bidders (more than Rs. 2 lakhs and upto 10 lakhs) (AfterTechnical
Rejections) (including ASBA Applications) The Basis of Allotment to the Non- Institutional Bidders (more than Rs. 2 lakhs
and upto Rs. 10 lakhs), who have bid at the Offer Price of Rs.506 per Equity Share, was
finalized in consultation with BSE This category h8$ been subscribed to the extent of 0.66
times. The total number of Equity Shares allotted m this category is 441,612 Equity Shares
to 716 successful applicants The category-wise details of the Basis of Allotment are as
under: |
| Sr. No. |
Category |
No.
of Applications Received |
%
of Total |
Total
No. of Equity Shares applied |
%
to Total |
No.
of Equity Shares allotted per applicant |
Ratio |
Total
No. of Equity Shares allotted |
| 1 |
406 |
558 |
77.93 |
226,548 |
51.30 |
406 |
1:1 |
226,548 |
| 2 |
435 |
11 |
1.54 |
4,785 |
1.08 |
435 |
1:1 |
4,785 |
| 3 |
464 |
5 |
0.70 |
2,320 |
0.53 |
464 |
1:1 |
2,320 |
| 4 |
493 |
2 |
0.28 |
986 |
0.22 |
493 |
1:1 |
986 |
| 5 |
522 |
2 |
0.28 |
1,044 |
0.24 |
522 |
1:1 |
1,044 |
| 6 |
580 |
4 |
0.56 |
2,320 |
0.53 |
580 |
1:1 |
2,320 |
| 7 |
609 |
7 |
0.98 |
4,263 |
0.97 |
609 |
1:1 |
4,263 |
| 8 |
696 |
1 |
0.14 |
696 |
0.16 |
696 |
1:1 |
696 |
| 9 |
783 |
2 |
0.28 |
1,566 |
0.35 |
783 |
1:1 |
1,566 |
| 10 |
812 |
5 |
0.70 |
4,060 |
0.92 |
812 |
1:1 |
4,060 |
| 11 |
870 |
2 |
0.28 |
1,740 |
0.39 |
870 |
1:1 |
1,740 |
| 12 |
928 |
2 |
0.28 |
1,856 |
0.42 |
928 |
1:1 |
1,856 |
| 13 |
986 |
8 |
1.12 |
7,888 |
1.79 |
986 |
1:1 |
7,888 |
| 14 |
1,015 |
23 |
3.21 |
23,345 |
5.29 |
1,015 |
1:1 |
23,345 |
| 15 |
1.044 |
3 |
0.42 |
3,132 |
0.71 |
1,044 |
1:1 |
3,132 |
| 16 |
1,102 |
1 |
0.14 |
1,102 |
0.25 |
1,102 |
1:1 |
1,102 |
| 17 |
1,218 |
1 |
0.14 |
1,218 |
0.28 |
1,218 |
1:1 |
1,218 |
| 18 |
1,276 |
1 |
0.14 |
1,276 |
0.29 |
1,276 |
1:1 |
1,276 |
| 19 |
1,305 |
1 |
0.14 |
1,305 |
0.30 |
1,305 |
1:1 |
1,305 |
| 20 |
1,450 |
1 |
0.14 |
1,450 |
0.33 |
1,450 |
|
1,450 |
| 21 |
1,624 |
2 |
0.28 |
3,248 |
0.74 |
1,624 |
1:1 |
3,248 |
| 22 |
1,740 |
1 |
0.14 |
1,740 |
0.39 |
1,740 |
1:1 |
1,740 |
| 23 |
1.769 |
1 |
0.14 |
1,769 |
0.40 |
1,769 |
1:1 |
1,769 |
| 24 |
1,943 |
1 |
0.14 |
1,943 |
0.44 |
1,943 |
1:1 |
1,943 |
| 25 |
1,972 |
71 |
9.92 |
140,012 |
31.70 |
1,972 |
1:1 |
140,012 |
|
TOTAL |
716 |
100 |
441612 |
100 |
|
|
441612 |
| C. |
Allotment to
Non-Institutional Bidders (more than Rs.10 lakhs) (After Technical Rejections) (including
ASBA Applications) The Basis of
Allotment to the Non-Institutional Bidders (more than Rs. 10 lakhs), who have bid at the
Offer Price of Rs. 506 per Equity Share, was finalized in consultation with BSE This
category has been subscribed to the extent of 1.13 times. The total number of Equity
Shares allotted in this category is 1,550,902 Equity Shares to 195 successful applicants.
The category-rose details of the Basis of Allotment are as under: |
| Sr. No. |
Category |
No.
of Applications Received |
%of
Total |
Total
No. of Equity Shares applied |
%
to Total |
No.
of Equity Shares allotted per applicant |
Ratio |
Total
No. of Equity Shares allotted |
| 1 |
2,001 |
135 |
69.23 |
270,135 |
15.46 |
1,812 |
1:1 |
244,620 |
|
|
1 ADDITIONAL SHARE FOR CATEGORY 2001 |
|
1 |
126:135 |
126 |
| 2 |
2,030 |
8 |
4.10 |
16,240 |
0.93 |
1,839 |
1:1 |
14,712 |
| 3 |
2,088 |
1 |
0.51 |
2,088 |
0.12 |
1,890 |
1:1 |
1,890 |
| 4 |
2,175 |
2 |
1.03 |
4,350 |
0.25 |
1,967 |
1:1 |
3,934 |
| 5 |
2,465 |
2 |
1.03 |
4,930 |
0.28 |
2,223 |
1:1 |
4,446 |
| 6 |
2,900 |
4 |
2.05 |
11,600 |
0.66 |
2,606 |
1:1 |
10,424 |
| 7 |
2,958 |
4 |
2.05 |
11,832 |
0.68 |
2,657 |
1:1 |
10,628 |
| 8 |
2,987 |
3 |
1.54 |
8,961 |
0.51 |
2,683 |
1:1 |
8,049 |
| 9 |
3,944 |
1 |
0.51 |
3,944 |
0.23 |
3,527 |
1:1 |
3,527 |
| 10 |
4,002 |
2 |
1.03 |
8,004 |
0.46 |
3,578 |
1:1 |
7,156 |
| 11 |
4,089 |
1 |
0.51 |
4,089 |
0.23 |
3,655 |
1:1 |
3,655 |
| 12 |
4,930 |
4 |
2.05 |
19,720 |
1.13 |
4,397 |
1:1 |
17,588 |
| 13 |
5,017 |
1 |
0.51 |
5,017 |
0.29 |
4,473 |
1:1 |
4,473 |
| 14 |
5,307 |
1 |
0.51 |
5,307 |
0.30 |
4,729 |
1:1 |
4,729 |
| 15 |
5,800 |
1 |
0.51 |
5,800 |
0.33 |
5,164 |
1:1 |
5,164 |
| 16 |
8,526 |
1 |
0.51 |
8,526 |
0.49 |
7,569 |
1:1 |
7,569 |
| 17 |
9,860 |
5 |
2.56 |
49,300 |
2.82 |
8,746 |
1:1 |
43,730 |
| 18 |
9,889 |
2 |
1.03 |
19,778 |
1.13 |
8,771 |
1:1 |
17,542 |
| 19 |
10,005 |
3 |
1.54 |
30,015 |
1.72 |
8,873 |
1:1 |
26,619 |
| 20 |
14,500 |
1 |
0.51 |
14,500 |
0.83 |
12,839 |
1:1 |
12,839 |
| 21 |
14,819 |
1 |
0.51 |
14,819 |
0.85 |
13,120 |
1:1 |
13,120 |
| 22 |
20,735 |
1 |
0.51 |
20,735 |
1.19 |
18,339 |
1:1 |
18,339 |
| 23 |
22,185 |
1 |
0.51 |
22,185 |
1.27 |
19,618 |
1:1 |
19,618 |
| 24 |
29,638 |
1 |
0.51 |
29,638 |
1.70 |
26,192 |
1:1 |
26,192 |
| 25 |
49,387 |
1 |
0.51 |
49,387 |
2.83 |
43,613 |
1:1 |
43,613 |
| 26 |
59,276 |
1 |
0.51 |
59,276 |
3.39 |
52,337 |
1:1 |
52,337 |
| 27 |
79,025 |
1 |
0.51 |
79,025 |
4.52 |
69,758 |
1:1 |
69,758 |
| 28 |
79,054 |
1 |
0.51 |
79,054 |
4.52 |
69,783 |
1:1 |
69,783 |
| 29 |
98,803 |
2 |
1.03 |
197,606 |
11.31 |
87,204 |
1:1 |
174,408 |
| 30 |
148,219 |
2 |
1.03 |
296,438 |
16.96 |
130,795 |
1:1 |
261,590 |
| 31 |
395,270 |
1 |
0.51 |
395,270 |
22.62 |
348,724 |
1:1 |
348,724 |
|
TOTAL |
195 |
100 |
1,747,569 |
100 |
|
|
1,550,902 |
| D. |
Allotment to Eligible
Employees (After Technical Rejections) (including ASBA Applications) The Basis of Allotment to the Eligible
Employees, who have bid at the Offer Price of Rs. 458 per Equity Share. was finalized r
consultation with BSE. This category has been subscribed to the extent of 1.67 times. The
total number of Equity Shares allotted in this category is 21,634 Equity Shares to 266
successful applicants. The bids upto 200,000 were considered for allocation n terms of
SEBI ICDR Regulations The category-wise details of the Basis of Allotment are as under: |
| Sr. No. |
Category |
No.
of Applications Received |
%of
Total |
Total
No. of Equity Shares applied |
%
to Total |
No.
of Equity Shares allotted per applicant |
Ratio |
Total
No. of Equity Shares allotted |
| 1 |
29 |
129 |
51.19 |
3,741 |
13.61 |
29 |
103:129 |
2,987 |
| 2 |
58 |
43 |
17.06 |
2,494 |
9.07 |
46 |
1:1 |
1,978 |
| 3 |
87 |
12 |
4.76 |
1,044 |
3.80 |
69 |
1:1 |
828 |
| 4 |
116 |
15 |
5.95 |
1,740 |
6.33 |
92 |
1:1 |
1,380 |
| 5 |
145 |
4 |
1.59 |
580 |
2.11 |
115 |
1:1 |
460 |
| 6 |
174 |
1 |
0.40 |
174 |
0.63 |
138 |
1:1 |
136 |
| 7 |
203 |
7 |
2.78 |
1,421 |
5.17 |
161 |
1:1 |
1,127 |
| e |
232 |
3 |
1.19 |
696 |
2.53 |
184 |
1:1 |
552 |
| 9 |
290 |
4 |
1.59 |
1,160 |
4.22 |
230 |
1:1 |
920 |
| 10 |
348 |
1 |
0.40 |
348 |
1.27 |
276 |
1:1 |
276 |
| 11 |
377 |
4 |
1.59 |
1,508 |
5.49 |
300 |
1:1 |
1,200 |
| 12 |
406 |
1 |
0.40 |
406 |
1.48 |
322 |
1:1 |
322 |
| 13 |
435 |
10 |
3.97 |
4,350 |
15.82 |
345 |
1:1 |
3,450 |
| 14 |
464 |
1 |
0.40 |
435 |
1.58 |
345 |
1:2 |
345 |
| 15 |
493 |
1 |
0.40 |
435 |
1.58 |
345 |
1:1 |
345 |
| 16 |
551 |
1 |
0.40 |
435 |
1.58 |
345 |
1:1 |
345 |
| 17 |
870 |
2 |
0.79 |
870 |
3.16 |
345 |
1:1 |
690 |
| 18 |
986 |
3 |
1.19 |
1,305 |
4.75 |
345 |
1:1 |
1,035 |
| 19 |
1015 |
1 |
0.40 |
435 |
1.58 |
345 |
1:1 |
345 |
| 20 |
1073 |
9 |
3.57 |
3,915 |
14.24 |
345 |
1:1 |
3,105 |
|
|
28 Allottees from Serial no 13 to 20 Additional 1(one) share |
|
1 |
6:28 |
6 |
|
TOTAL |
252 |
100.00 |
27,492 |
100.00 |
|
|
21,834 |
| E. |
Allotment to QIBs (After
Technical Rejections) Allotment
to QIBs who have bid at the Offer Price of Rs. 506 per Equity Share, has been done on a
proportionate basis in consultation with BSE. This category has been subscribed to the
extent of 5.91 times of Net QIB portion. As per the SEBI Regulations. Mutual Funds were
allotted 5% of the Equity Shares of Net QIB portion available i.e. 168,747 Equity Shares
and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining
available Equity Shares i.e. 3,206,170 Equity Shares on a proportionate basis. The total
number of Equity Shares allotted in the QIB category is 3,374,917 Equity Shares, which
were allotted to 14 successful Applicants. |
| CATEGORY |
FI’S/BANKS |
MF'S |
IC'S |
NBFC'S |
AIF'S |
FPI's |
OTHERS |
TOTAL |
| ALLOTMENT |
384,185 |
932,334 |
* |
629,294 |
32,017 |
1,397,087 |
- |
3,374,917 |
| F. |
Allotment to Anchor Investors
(After Technical Rejections) The
Company, the Investor Selling Shareholders in consultation with the BRIM, have allocated
3,266,797 Equity Shares to 13 Anchor Investors (through 14 Anchor Investor Application
Forms) (including 4 domestic Mutual Funds through 4 schemes) at an Anchor Investor Offer
Pice at Rs. 506 per Equity Share in accordance with SEBI ICDR Regulations. This represents
60% of the QIB portion. |
| CATEGORY |
FI'S/BANKS |
MF'S |
ICS |
NBFC’S |
AIF’S |
pprs |
OTHERS |
TOTAL |
| ALLOTMENT |
- |
1,422,943 |
. |
197,635 |
99,657 |
1,546,562 |
- |
3,266,797 |
The Board of Directors of our Company at its meeting held on December
21, 2022 has taken on record the basis of allotment of Equity Shares approved by the
Designated Stock Exchange, being BSE and has allotted the Equity Shares to various
successful applicants. The Allotment Advice Cum Refund Intimation and/or notices have been
dispatched to the address of the investors as registered with the depositories. Further,
instructions to the SCSBs have been issued for unblocking of funds and transfer to the
Public Offer Account on December 20, 2022 and the payments to non-syndicate brokers have
been issued on December 21,2022. In case the same s not received within ten days investors
may contact the Registrar to the Offer at the address given below. The Equity Shares
allotted to the successful allottees have been uploaded on December 21, 2022 for credit
into the respective beneficiary accounts subject to validation of the account details with
the depositories concerned. The Company has filed the Using application with NSE and BSE
on December 21, 2022. The Company has received the listing and trading approval from NSE
& BSE, and trading will commence on December 23, 2022
Note: All capitalized terms used and not defined herein shall have
the respective meanings assigned to them in the Prospectus.
INVESTORS PLEASE NOTE
These details of the Allotment made shall be hosted on the website of
Registrar to the Offer, Link intime India Private Limited at www.linkintime.co.in.
All future correspondence n this regard may kindly be addressed to the
Registrar to the Offer quoting full name of the First/ Sole applicant. Serial number of
the Bid cum Application form number, Bidders DP ID, Dent ID, PAN, date of submission of
Bid cum Application Form, address of the Bidder, number of Equity Shares bid for, name of
the Member of the Syndicate, place where the bid was submitted and payment details at the
address given below.
| NOTICE TO INVESTORS: CORRIGENDUM TO THE PRICE BAND ADVERTISEMENT & RHP
STATUTORY ADVERTISEMENT DATED DECEMBER 7, 2022 |
| On page 1 of the Price Band advertisement & RHP statutory advertisement dated
December 7, 2022 in the Risk to Investors Section, in respect to the contribution to the
total Revenue from sate of cars during the three months ended June 30, 2022 should be read
as 74.47% instead of 77.77%. |
 |
| Link Intime India
Private Limited |
| C-101, 1st Floor,
247 Park, L.B.S Marg, Vikhroli (West), Mumbai 400 083. Maharashtra |
| Telephone:
+91 22 49186200 E-mail: landmark.ipo@linkintime.co.in
Investor grievance e-mail: landmark.ipo@inkintime.co.in |
| Website: www.linkintime.co.in; Contact person: Shanti
Gopalkrishnan; SEBI registration number: INR000004058 |
|
For LANDMARK CARS
LIMITED |
|
On behalf of the Board of
Directors |
| Place:
Ahmedabad, Gujarat |
Sd/- |
| Date: December 22, 2022 |
Company Secretary & Compliance Officer |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF
EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF
LANDMARK CARS LIMITED.
Landmark Cars Limited has filed a prospectus (the
"Prospectus") with the Registrar of Companies, Gujarat, Dadra and Nagar Haveli
at Ahmedabad .The RHP is available on the website of the SEBI at " http://www.nseindia.co " as well as on the websites
of the book running lead managers. Axis Capital Limited and ICICI Securities Limited at www.axiscapital.co in and www.icicisecurities.com respectively, and the
websites of the stock exchange(s) at " http://www.nseindia.com
" and " http://www.bseindia.com "
respectively.
Any potential investor should note that investment in equity shares
involves a high degree of risk and for details relating to such risk, see "Risk
Factors" of the RHP Potential investors should not rely on the DRHP for any
investment decision.
The Equity Shares offered in the Offer have not been and will not be
registered under the U. S. Securities Ad of 1933 as amended (the "Securities
Act") or any other applicable taw of the United Slates and, unless so registered, may
not be offered or sold within the United States except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the Securities Act and
applicable state securities laws. This announcement does not constitute an offer of
securities for sale in any jurisdiction, including the United States, and any securities
described in this announcement may not be offered or sold in the United States absent
registration under the Securities Act or an exemption from such registration Any public
offering of securities to be made in the United States will be made by means of a
prospectus that may be obtained from the issuer that will contain detailed information
about the company and management, as well as financial statements. No public offering or
sale of securities n the United States is contemplated.
Zerodha (Trading Account)
RHP