Landmark Immigration Consultants listing: Shares of Landmark Immigration Consultants listed at ₹75 per share on Thursday, January 23, a premium of 4.17% over the issue price of ₹72.
Landmark Immigration Consultants share price extended gains and touched the 5% upper price band of ₹78.75 briefly.
The ₹40 crore IPO, which was open for subscription from January 16 to January 20, witnessed strong demand for the offer as it was subscribed 72.34 times at the end of the three-day book-building process.
The retail investor portion was subscribed 81.87 times, while the non-institutional investor (NII) portion was booked 116.71 times and the qualified institutional buyer (QIB) portion was subscribed 35.58 times.
The minimum lot size for the IPO was 1600 shares. The minimum amount of investment required by retail investors was ₹1,15,200.
Landmark Immigration Consultants IPO was entirely a fresh issue of shares, meaning the entire amount raised would go to the company, which it plans to utilise for various purposes such as capex for setting up new branches, advertisement towards creating brand awareness, pursuing growth through acquisitions and general corporate purposes.
About Landmark Immigration Consultants
Founded in 2010, Landmark Immigration Consultants offers comprehensive global consultancy services to students aspiring to study abroad, as well as immigration services for visas, tourism, business, and permanent residency, primarily focusing on Canada.
With nine fully equipped branches and partnerships with over 30 Canadian institutions, Landmark Immigration also boasts dedicated consultants and training facilities. The company has expanded its reach through franchise agreements in Jammu, Jind, and Karnal.
Landmark Immigration Consultants posted strong earnings growth, with the company’s profit after tax surging 151% year-on-year (YoY) to ₹1,111.83 lakh for the financial year ended March 31, 2024, from ₹443.48 lakh at the end of March 31, 2023.
The revenue also rose to ₹3,707.03 lakh from ₹2,162.62 lakh, recording a rise of 71.41% YoY.
