Shares of Landmark Cars changed hands in a block deal on Friday. As many as 44.56 lakh shares worth 293 crore changed hands in the block deal window at Rs 658 per share. The buyers and sellers in the deal are not known.

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CNBC Awaaz reported on Thursday, citing sources, that TPG Capital will sell 11 percent stake in the auto retailer via block deal on June 23. TPG Capital will cease to hold stake in the company after the deal.

According to the report, sources said the stake sale will be at a discount of 0-5 percent to the current market price. ICICI Securities was the sole broker for the transaction, reports suggest.

Landmark Cars made a tepid listed on the bourses on December 23, 2022.

Landmark Cars is doing business with Mercedes Benz, Jeep, Volkswagen, etc. The auto dealer reported a revenue growth of 36 percent year-on-year at Rs 4,594 crore in the financial year 2022-23 driven by new model launches by OEM partners and preference towards luxury vehicles.

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First Published:Jun 23, 2023 8:57 AM IST