Landmark Immigration Consultants shares make a weak listing at 4% premium on BSE SME; check details

Landmark Immigration Consultants shares listed at a premium of 4% on the BSE SME platform on Thursday, January 23, making a lacklustre debut on the stock exchange.

Shares of the consultancy firm started trading at ₹75 apiece against the issue price of ₹72 apiece, reflecting gains of 4.17%.

More than 21 lakh shares changed hands on the exchange in early trade. The total turnover stood at ₹16.12 crore, and the company’s market capitalisation reached ₹155.73 crore. The stock gained further 5% to hit the upper circuit at ₹78.75 per share.

At the listing price of ₹75 per share, the value of a single lot of shares bagged by investors in the IPO share allotment stood at ₹1,20,000 (₹75 x 1,600).

IPO investors could have made gains of ₹4,800 per lot as the minimum investment in a single lot was ₹1,15,200 (₹72 x 1,600).

Landmark Immigration garners ₹40.32 crore through IPO

Landmark Immigration Consultants raised ₹40.32 through its SME IPO on BSE. The issue was open for subscription from January 16 to 20, 2025. The public offer comprised a fresh issuance of 56 lakh shares. The IPO price was fixed at ₹70-72 per share.

At the close of bidding on January 20, the issue was subscribed more than 68 times. The IPO received bids for 32.56 crore shares compared to 47.52 lakh equity shares on offer.

Retail investors’ portion was booked more than 81 times as bids for 17.02 crore shares were received against 20.8 lakh shares set aside for them. The Non-Institutional Investors’ quote was subscribed more than 77 times with applications for 11.13 crore shares against 9.52 lakh shares on offer. The Qualified Institutional Buyers (QIBs) quota was booked over 35 times, with applications for over 4.4 crore shares against 12.36 lakh shares on offer.

Landmark Immigration is in the business of consultancy services for immigration, global education, tourist or business visa applications, application for Permanent Residency.

The Chandigarh-based company offers several professional programmes related to global education consultancy, Education Loan Guidance and Scholarships. It also provides training for language proficiency tests like TOEFL. The company has entered into collaborations with around 30 education institutions in Canada.

According to its RHP, Landmark Immigration Consultants will use the IPO proceeds to open new offices and branches, fund advertising expenses, and pursue inorganic expansion opportunities.

The company will use ₹11.01 crore of IPO funds to set up new branches. It has nine branches in Chandigarh, Punjab, and Gujarat. The company has proposed to start eight new branches in the financial year 2025 and 10 in FY26. A sum of ₹13.95 crore will be spent on advertisements to raise awareness and visibility of its brand, while ₹9.6 crore has been earmarked for inorganic growth initiatives.

Landmark Immigration reported a profit after tax of ₹5.40 crore for the April-September period of FY2024-25. Revenue was ₹19.24 crore in the six-month period.

The company reported a net profit of ₹11.11 crore for FY24 against ₹4.43 crore in the financial year ended on March 31, 2023. Its revenue stood at ₹37.07 crore in FY24 against ₹21.62 crore in FY23.