Landmark Immigration Consultants is a global consultancy firm offering services in two major domains: Global Education Consultancy (GEC), primarily focusing on student aspirations to study abroad, and Immigration Consultancy (IC), assisting with visa applications for tourist/business purposes and Permanent Residency (PR) applications. The company has launched an IPO with a fresh issue of 56 Lakh shares, aiming to raise ₹40.32 Crores. The IPO price band is ₹70 to ₹72 per share, and the market capitalization at the upper price band is ₹148.39 Crores. Retail investors are required to invest a minimum of ₹1,15,200, and High-Net-Worth Individuals (HNIs) must invest ₹2,30,400 for 2 lots.

The subscription period for Landmark Immigration Consultants IPO opens on January 16, 2025, and closes on January 20, 2025. The allotment is expected to be finalized on January 21, 2025, with a tentative listing date on January 23, 2025, on the BSE SME.

Subscription and GMP Trends
The Grey Market Premium (GMP) for Landmark Immigration Consultants IPO stands at ₹13, which indicates a potential listing gain of 18.05%. This positive GMP suggests strong investor sentiment toward the IPO, although it is essential to note that GMP is not a reliable indicator of actual performance at listing.

Anchor Investors
Landmark Immigration Consultants raised ₹6.10 Crores from anchor investors at ₹72 per share, allocating 8,48,000 equity shares. This backing from institutional investors strengthens the IPO's credibility.

Financial Performance and Valuation
For the period ending September 30, 2024, Landmark Immigration Consultants reported revenues of ₹1,924.81 Lakh and a Profit After Tax (PAT) of ₹540.12 Lakh. The company’s EBITDA stood at ₹793.38 Lakh for the same period. The pre-issue EPS is ₹7.41, and post-issue EPS is ₹5.39 for FY24. The pre-issue P/E ratio is 9.72x, while the post-issue P/E ratio is 13.35x, below the industry P/E ratio of 27x, suggesting that the IPO is priced attractively.

Investment Recommendation
The positive Grey Market Premium (GMP) of 18.05% and strong financial performance suggest that the Landmark Immigration Consultants IPO could offer potential listing gains. However, given the nature of the business, we recommend this IPO for risk-tolerant investors seeking exposure to the global education and immigration consultancy sectors.

IPO Allotment Process
The allotment date for Landmark Immigration Consultants IPO is January 21, 2025. Investors can check their allotment status by visiting the registrar’s website and entering their application number, PAN, or DP Client ID.

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