Services
FNO Stocks with CA Abhay
Equity Trading with CA Abhay
Equity Investment with CA Abhay
Stock Market Masterclass
Option Trading with CA Abhay
Landmark Immigration Consultants IPO subscribed 2.47 times on Day 2. Check GMP and other details
Team Finance Saathi
17/Jan/2025
What’s covered in this article:
- IPO Details: Pricing, market cap, and allotment info.
- GMP and Subscription Updates: Real-time IPO subscription and GMP.
- Company Overview: Specializing in education and immigration consultancy.
- IPO Allotment and Status Check: Step-by-step guide for allotment.
Landmark Immigration Consultants offers a comprehensive suite of services, including Global Education Consultancy (GEC) for students aspiring to study abroad, and Immigration Consultancy (IC) for individuals seeking tourist, business visas, or Permanent Residency (PR) in countries like Canada.
Landmark Immigration Consultants IPO Overview
The Landmark Immigration Consultants IPO is a Book Built Issue amounting to ₹40.32 Crores, consisting entirely of a Fresh Issue of 56.00 Lakh shares. The IPO opens on January 16, 2025, and closes on January 20, 2025. The shares are expected to be listed on the BSE SME on or about January 23, 2025.
- Price Band: ₹70 to ₹72 per share
- Market Capitalization: ₹148.39 Crores at the upper price band of ₹72
- Lot Size: 1,600 shares
- Minimum Investment: ₹1,15,200 for retail investors
- HNI Minimum Investment: ₹2,30,400 (2 lots)
The lead manager for the IPO is SHRENI SHARES LIMITED, while KFIN TECHNOLOGIES LIMITED is the registrar. Rikhav Securities Limited is the designated market maker for the issue.
Grey Market Premium (GMP) & Subscription Trend
The Grey Market Premium (GMP) for Landmark Immigration Consultants IPO is currently ₹13, indicating an expected listing gain of approximately 18.05%. However, remember that the GMP reflects speculative market sentiment and should be viewed with caution.
Day-Wise GMP Trend:
- 12 Jan 2025: GMP ₹13, expected listing price ₹85 (+18.05%)
Landmark Immigration Consultants IPO Subscription Status
As of 11:00 AM on January 17, 2025, the Landmark Immigration IPO has been subscribed 2.47 times on its second subscription day, showing positive investor interest.
Landmark Immigration Consultants IPO Allotment Status
The allotment date for the Landmark Immigration Consultants IPO is January 21, 2025. To check the allotment status, follow these steps:
- Visit the Registrar’s website (Link: Registrar Website).
- Select Landmark Immigration Consultants IPO from the dropdown list.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
Objectives of the Landmark Immigration Consultants IPO
Landmark Immigration Consultants intends to utilize the net proceeds from the IPO for the following purposes:
- Capital Expenditure: ₹1,101.10 Lakh for setting up new branches
- Advertisement Expenses: ₹1,395.00 Lakh to increase brand visibility
- Inorganic Growth: ₹960.00 Lakh for acquisitions
- General Corporate Purposes: Additional funds for business expansion
Landmark Immigration Consultants IPO Review
Company Overview:
Landmark Immigration Consultants is well-established in the Global Education and Immigration Consultancy sectors, assisting students and clients with smarter decisions for study abroad and visa applications. The promoters, Mr. Jasmeet Singh Bhatia and Ms. Richa Arora, bring significant experience and strategic expertise to the business.
Financial Performance:
- Revenue for FY24 (till Sep 30): ₹1,924.81 Lakh (up from ₹1,931.54 Lakh in FY22)
- EBITDA: ₹793.38 Lakh (up from ₹627.47 Lakh in FY22)
- Profit After Tax (PAT): ₹540.12 Lakh (growth from ₹393.53 Lakh in FY22)
The pre-issue P/E ratio of the company is 9.72x, and the post-issue P/E ratio is 13.35x, considerably lower than the industry P/E ratio of 27x.
Recommendation
The IPO is reasonably priced, with strong financials and growth potential. The pre-issue P/E ratio is attractive compared to the industry average, and the GMP suggests a positive listing. Given these factors, risk-taking investors may consider applying for the Landmark Immigration Consultants IPO to capitalize on the potential listing gains.
Final Thoughts: This IPO presents an opportunity for investors interested in the education and immigration consultancy sectors. If you’re looking for listing gains and have a higher risk tolerance, this IPO is worth considering.