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Reliance Securities’ IPO Report
Landmark Cars Ltd. is the leading premium automotive retailer in India, with dealerships for Honda, Jeep, Volkswagen, Mercedes-Benz and Renault. It also caters to the commercial vehicle retail business of Ashok Leyland Ltd. It offers services such as sales of new vehicles, aftersales services and repairs, facilitation of the sales of third-party finance and sales of pre-owned passenger vehicles.
Landmark has 112 outlets (61 sales showrooms 51 after-sales services) in eight states. For FY22, it is the number one dealer in India for Mercedes-Benz and Volkswagen retail sales and the number one dealer for Honda and Jeep for wholesale sales. For CY21, it was the third largest dealership for Renault in terms of wholesale sales contribution.
The Indian passenger vehicle industry has grown 5.3% compound annual growth rate in volume terms during FY17 to FY19, primarily due to an increase in demand driven by improved economics, higher affordability and launches of new automobile modes.
Sales volume of the luxury segment increased significantly at a CAGR of 16% between FY17 to FY19, driven by increased disposable incomes, favorable economic growth and more model launches by luxury original equipment manufacturers/brands.
Landmark Cars is coming out with an initial public offering comprising fresh Issue of 3 million shares and offer for sale of 7.9 million shares aggregating to Rs 5.5 billion
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