Landmark Cars shares surged over 6% in the early trade post-block deal on the exchanges. Around 44.56 lakh shares, or 11% stake, in the company, changed hands on the exchanges.

The transaction was at a floor price of Rs 658 apiece, a discount of 1% from the earlier price of Rs 662.40, with a deal value of Rs 293 crore.
US-based investment firm TPG Capital plans to sell over 44 lakh shares, or 11% stake, at a floor price of 0-5% discount to the stock’s closing price.

The stake sale symbols TPG’s exit from the automotive retailer at 11.25% stake through its affiliate, TPG Growth II SF Pte Ltd.
At 9:17 am, Landmark Cars shares were trading at Rs 692 on the NSE, up 4.47% from the previous close.

TPG’s exit from Landmark Cars resulted after the equity firm hived off its entire stake in the non-bank finance firm Shriram Finance in a deal of Rs 1,390 crore.
Earlier, Bajaj Finance also offloaded 2.5 lakh equity shares, or around 0.6% stake, in Landmark Cars at a base price of Rs 690.03 per share. Bajaj Finance made Rs 15.53 crore from the deal.

The company made a subdued debut in December last year when it listed at a 7% discount to its IPO price of Rs 506. Since then, the stock has risen around 30%.