Landmark Immigration Consultants IPO: SME issue booked 1.8x on Day 1; check GMP & other details | Stock Market News

Landmark Immigration Consultants IPO, opened for subscription on Thursday, January 16. The ₹40.32 crore book-built issue is garnering a strong response from investors. The grey market premium for the Landmark Immigration Consultants IPO is also signalling a healthy demand for the SME issue in the grey market.

Landmark Immigration Consultants IPO Subscription Status

Landmark Immigration Consultants IPO was booked 1.79 times at the end of the first day of subscription on Thursday. The retail portion was subscribed 2.77 times, the non-institutional buyer portion 0.9 times and the qualified institutional buyer portion 1.12 times.

Landmark Immigration Consultants IPO Key Details

Here are key details about Landmark Immigration Consultants IPO:

Landmark Immigration Consultants IPO Open Date: The issue opened for subscription on Thursday, January 16 and will remain open till Monday, January 20.

Landmark Immigration Consultants IPO Price Band: The IPO price band for the SME issue is set at ₹70-72 per share.

Landmark Immigration Consultants IPO Lot Size: The minimum lot size for the IPO is 1600 shares. Retail investors will need to invest at least ₹1,15,200 for one lot of the IPO.

Landmark Immigration Consultants IPO Size: The company is looking to raise ₹40.32 crore at the upper end of the price band.

Landmark Immigration Consultants IPO Type: The issue is entirely a fresh share sale of 56 lakh shares with no offer-for-sale component.

Landmark Immigration Consultants IPO Objective: The company plans to use the IPO proceeds for setting up new branches, advertisement expenses towards enhancing the awareness and visibility of the brand, pursuing inorganic growth initiatives through acquisitions, and general corporate purposes.

Landmark Immigration Consultants IPO BLRMs: Shreni Shares is the book-running lead manager of the Landmark Immigration IPO, while KFin Technologies is the registrar for the issue.

Landmark Immigration Consultants IPO GMP: Landmark Immigration Consultants IPO GMP today stood at ₹17, signalling a 24% listing premium over the IPO price.

Landmark Immigration Consultants IPO Listing: The company shares are expected to be listed on BSE SME tentatively on Thursday, January 23.

About Landmark Immigration Consultants: Founded in 2010, Landmark Immigration Consultants provides global consultancy services to students who want to study abroad along with immigration consultancy for visas, tourism, business, and permanent residency, mainly for Canada.

Landmark Immigration has nine fully equipped branches and works with over 30 Canadian institutions. They also have dedicated consultants and training facilities. The company has signed franchise agreements in Jammu, Jind, and Karnal.