Landmark Cars Stock Down 10% In Debut Trade


Landmark Cars Stock Down 10% In Debut Trade

Landmark Cars commanded a market valuation of Rs 1,807.18 crore on the BSE.(Representational)

New Delhi:

Shares of car dealership chain Landmark Cars made a weak market debut on Friday and ended practically 10 per cent decrease in opposition to the difficulty value of Rs 506.

The inventory listed at Rs 471.30, a reduction of 6.85 per cent on the BSE. During the day, it dipped 11.76 per cent to Rs 446.45. The inventory ended at Rs 456.45 apiece, registering a decline of 9.79 per cent.

On the NSE, the inventory made its debut at Rs 471, decrease by 6.91 per cent. It ended at Rs 456.15 per share, decrease by 9.85 per cent.

The firm commanded a market valuation of Rs 1,807.18 crore on the BSE.

In the broader market, the 30-share BSE Sensex remained beneath promoting strain for the fourth day operating and tumbled 980.93 factors or 1.61 per cent to settle at 59,845.29.

The Initial Public Offer (IPO) of Landmark Cars obtained subscribed 3.06 occasions final week.

The firm’s public supply had a value vary of Rs 481-506 a share.

The IPO of Landmark Cars had a recent subject of as much as Rs 150 crore and a suggestion on the market of as much as Rs 402 crore, aggregating as much as Rs 552 crore.

TPG-backed Landmark Cars is a number one premium automotive retail enterprise in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault.

(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)

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