Landmark Immigration IPO subscribed 72.84 times on the last day, while A retail quota was subscribed 81.87 times, QIB was subscribed 35.58 times, and NII quota subscribed by 116.71 times respectively.
Details About Landmark Immigration IPO
Landmark Immigration got approval from SEBI for an IPO of ₹40.32 crores to raise funds and maintain financial stability. The face value of each share was Rs 10 each. Moreover, the company has set up a price band between ₹70 to ₹72 per share. In this IPO a total of 1600 shares were available in 1 lot size for the minimum Retail category and for the maximum retail category 1600 shares in 1 lot size, while S-HNI (Min) total of 3,200 shares in 2 lot size.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum investment of ₹1,15,200 and maximum investment of ₹1,15,200.
- Small HNI (S-HNI): Minimum investment of ₹2,30,400.
Subscription duration of Landmark Immigration IPO
The opening date of the Landmark Immigration IPO subscription was on January 16, 2025, and closing date of the IPO subscription was on January 20, 2025. The basis of allotment of the IPO was on January 21, 2025, while the IPO listing has been scheduled for January 23, 2025.
Funds Deployment of This Company
Following are the purposes the company is planning to use the funds raised by launching an IPO as follows:
- The raised capital will be used to cover the additional expenses of the company for setting up the new branches.
- The company will utilize the funds towards fulfilling the expenses regarding advertisement in order to enhance the visibility and awareness of its brand to the public.
- Use the raised amount to handle the inorganic growth initiatives through acquisitions.
- At Last, the remaining funds will be used to cover the General corporate expenses of the company.
About Landmark Immigration IPO
One of the growing companies, Landmark Immigration incorporated in 2007, focuses on providing a variety of services such as global consulting services, including, Global Education Consultancy GEC) services for students who want to study abroad and build their career abroad mostly in Canada. Through IC (Immigration Consultancy), they help students make educational decisions wisely while assisting customers in creating visa applications for tourist or business purposes. Their company mostly prefers giving solutions to students and customers who are mainly based in Punjab, Chandigarh, and Vadodara. The company’s portfolio consists of a wide range of services such as Education Consultancy, Education Loan Guidance and Scholarships, Admission application Formalities, Training for Language Proficiency Tests, Study/Schooling Visas, etc. As of now, the company has 9 branches while also entering 3 franchise agreements in Jammu, Jind, and Karnal.
Financial Background of Landmark Immigration IPO
The company reported revenue of ₹37.07 crore in 2024 against ₹21.63 crore in 2023. The company reported a profit of ₹11.12 crores in 2024 against a Profit of ₹4.43 crores in 2023.