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Landmark Cars Ltd. ( (IN:LANDMARK) ) has shared an announcement.
Landmark Cars Limited’s board has approved an equity infusion of Rs 80 crore into three of its wholly owned subsidiaries—Aeromark Cars Private Limited, Landmark Premium Cars Private Limited and Landmark Mobility Private Limited—by subscribing to their rights issues of optionally convertible redeemable preference shares. The transaction, classified as a related-party deal since the subsidiaries are promoted by Landmark Cars, is aimed at reducing intra-group borrowings at the subsidiary level, which is expected to strengthen the company’s balance sheet, optimise its capital structure across its automotive retail entities and potentially improve financial flexibility for future growth in its dealer operations.
More about Landmark Cars Ltd.
Landmark Cars Limited operates in the automobile industry as a leading dealer group, offering sales and related services for passenger vehicles through a network that includes wholly owned subsidiaries such as Aeromark Cars, Landmark Premium Cars and Landmark Mobility.
Average Trading Volume: 17,727
Technical Sentiment Signal: Sell
Current Market Cap: 19.21B INR
For an in-depth examination of LANDMARK stock, go to TipRanks’ Overview page.