Landmark Immigration IPO allotment likely today; Steps to check status on BSE, Kfin Technologies

Landmark Immigration Consultants Limited is likely to decide the share allotment status for its initial public offering on Tuesday, January 21. The company’s ₹40.32-crore IPO closed on Monday with an overall subscription of 72 times.

The BSE SME IPO generated decent demand in the three-day bidding that started on Thursday, January 16. The initial public offering was fully booked on the first day.

Following the end of the subscription period, the investors are now waiting for the share allotment status. The investors can check Landmark Immigration IPO allotment status on the websites of the BSE and the issue registrar, Kfin Technologies Limited.

At the close of bidding on January 20, the IPO received applications for over 32.56 crore shares against 44.67 lakh shares on offer. The IPO was booked 72.9 times across investor categories.

Retail investors placed bids for 17.02 crore shares against their quota of 20.8 lakh shares, leading to a subscription of 81.87 times in the category. Non-institutional investors (NIIs) submitted bids for nearly 11.14 crore shares against 9.52 lakh shares on offer. The NIIs’ segment was subscribed 117 times.

The Qualified Institutional Buyers (QIBs) applied for over 4.4 crore shares against 12.36 lakh shares set aside for them. The QIBs’ category was booked 35.58 times.

Steps to check Landmark Immigration IPO allotment status on registrar’s website

• Visit IPO allotment status page on the website of Kfin Technologies Ltd: https://ris.kfintech.com/ipostatus/
• Select any of the Links from the five options
• Go to Products sections
• Select Landmark Immigration Consultants Limited from the dropdown menu for IPO names
• Choose application number , PAN, or Demat Account
• Enter details as per your selection
• Enter the captcha code
• Click Submit

Here’s how to check allotment status on the BSE website

• Open BSE IPO allotment status page at https://www.bseindia.com/investors/appli_check.aspx
• Click on ‘Check Status’
• Select ‘equity’ as the issue type
• Choose Landmark Immigration Consultants Ltd from the dropdown list for issue names
• Enter PAN details or application number
• Submit to check details

Landmark Immigration IPO details

Landmark Immigration provides consultancy services in the fields of global education, immigration, tourist or business visa applications, and Permanent Residency applications.

Chandigarh-based consultancy also offers a range of professional programs in global education consultancy, such as Education Consultancy, Education Loan Guidance, scholarships, and Training for Language Proficiency Tests. The company has collaborated with more than 30 education institutions in Canada.

• Landmark Immigration IPO was a book-building offer worth ₹40.32 crore.
• The BSE SME issue comprised entirely a fresh issue of 56 lakh shares, without any offer-for-sale (OFS) component.
• The IPO price band was fixed at ₹70 to ₹72 per share.
• The minimum application size for the retail investors was a single lot of 1,600 shares, aggregating to an investment of at least ₹1,15,200.
• Landmark Immigration Consultants will initiate refunds and transfer of shares to the Demat accounts on January 22.
• Landmark Immigration's IPO listing date has been tentatively fixed as January 23. The company's shares will be listed on the BSE SME platform.

Use of IPO proceeds

Landmark Immigration Consultants has proposed to utilise IPO proceeds for opening new branches, meeting advertisements expenses and funding inorganic expansion opportunities. The company has earmarked ₹11.01 crore for capital expenditure for new branches.

The company has nine branches in Punjab, Chandigarh, and Vadodara, exclusively providing global education and immigration counselling to students to build their careers abroad and customers to obtain permanent residency, business, or tourist visas. It plans to open eight new branches in FY2025 and 10 in FY2026.

The company has proposed to use ₹13.95 crore to meet advertisement expenses towards enhancing the awareness and visibility of its brand.

Landmark Immigration Financials

Key Performance Indicators