The scrip was listed at 75, at a premium of 4.17% compared with the initial public offer (IPO) price. The stock was currently up 2.67% over its listing price. The counter hit a high of Rs 78.75 and a low of Rs 75. About 24.05 lakh shares of the company changed hands at the counter.
Landmark Immigration Consultants' IPO was subscribed 68.54 times. The issue opened for bidding on 16 January 2025 and it closed on 20 January 2025. The price band of the IPO was set at Rs 70 to Rs 72 per share.
The IPO comprised fresh issue of 47,52,000 equity shares. The promoter and promoter group shareholding diluted to 71.31% from 97.92% pre-issue.
The company intends to utilize the net proceeds to meet capital expenditure to be incurred by the company for setting up new branches, advertisement expenses towards enhancing the awareness and visibility of its brand, pursuing inorganic growth initiatives through acquisitions and general corporate purposes.
Ahead of the Landmark Immigration Consultants on 15 January 2024, raised Rs 6.10 crore from anchor investors. The board allotted 8.48 lakh shares at Rs 72 per share to 5 anchor investors.
Landmark Immigration Consultants is a global consultancy firm specializing in education abroad (particularly Canada) and immigration services. They assist students in making informed educational choices and guide individuals through the visa application process for various purposes, including tourism, business, and permanent residency in different countries. Their services cater primarily to clients from Punjab, Chandigarh, and Vadodara, providing a comprehensive platform for those aspiring to study or immigrate abroad. As of 30 September 2024, the company had around 128 employees on a payroll basis.
The company recorded revenue from operations of Rs 17.95 crore and net profit of Rs 5.40 crore for the period as of 30 September 2024.
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