Goldman Sachs Asset Management International has completely exited its position in Landmark Cars Limited, reducing its shareholding to zero as of January 22, 2026. According to regulatory filings, the asset manager sold its entire holding of 2,072,144 equity shares, which represented 5.014% of the company's total share capital and voting rights. The transaction was executed through the National Stock Exchange of India, with Goldman Sachs stating that their shareholdings decreased to 0 shares, representing 0% of the company's capital. This included 2,010,349 shares held directly and 61,795 shares held by its person acting in concert, Goldman Sachs Asset Management, L.P.
The complete exit was the culmination of a gradual reduction process that began in October 2024. Between October 1, 2024, and January 21, 2026, Goldman Sachs sold 455,893 shares equivalent to 1.099% across multiple tranches, followed by a larger disposal of 1,616,251 shares or 3.898% on January 22, 2026. In total, 2,072,144 shares or 4.997% were sold during this period, factoring in dilution from additional shares issued by the company. This transaction formally ended Goldman Sachs' status as a substantial shareholder in the automotive retail company.
Landmark Cars has demonstrated robust business performance with a 30% increase in enquiries and showroom footfalls since September 22, following recent GST cuts. According to company reports, the luxury car segment is outperforming the broader passenger vehicle market, with growth three times that of ordinary passenger vehicles in the June quarter. Aryaman Thakker, Executive Director, expects this trend to continue until Diwali and projects 13-14% growth for the second half. The company has expanded to 141 outlets across India over the past two years, focusing on premium brands like Mercedes-Benz, which accounts for 42% of Landmark Cars' total revenues.
While Goldman Sachs exited, other institutional investors remained active in the stock. Nippon India Small Cap Fund significantly increased its exposure by acquiring an additional 15.9 lakh shares representing a 3.8% stake at an average price of ₹361 per share. The transaction value stood at approximately ₹57.4 crore, adding to the fund's existing 3.64% stake held as of December 2025. Conversely, Polar Capital Funds Plc – Asian Stars Fund trimmed its holding from 1.33% to 0.20% by selling shares worth ₹17.41 crore, including 2.51 lakh shares at ₹370.22 per share and 2.18 lakh shares at ₹370.02 per share.
Despite the institutional exit, Landmark Cars shares surged as much as 9.7% to reach the day's high of ₹382.80 on January 27. However, the stock remains 43% below its 52-week high of ₹674.70, which was achieved in October 2025. The stock had touched its 52-week low of ₹306.05 in April 2025. The small-cap stock has faced significant pressure recently, declining 32% over the past year, 24% in the last six months, 39% in the last three months, and 20% in the previous month.
