Landmark Immigration Consultants IPO Allotment And Grey Market Premium: The initial public offering of Landmark Immigration Consultants Ltd. concluded its subscription on Monday. The SME IPO received a good response from the investors who bid for 32,53,98,400 shares against the 44,67,200 offered by the company.

The demand for the IPO was led by non-institutional buyers who bid for 11,11,05,600 shares against the 9,52,000 shares offered.

Landmark Immigration Consultants IPO Day 3 Subscription Status

  • Qualified Institutions: 35.58 times

  • Non-Institutional Buyers: 116.71 times

  • Retail Investors: 81.87 times

According to IPO tracking site Investorgain.com, the latest GMP of Landmark Immigration Consultants IPO was Rs 17 at 9:27 a.m. on Jan. 21. This indicates that the company’s shares were trading at a premium of Rs 17 in the grey market.

Considering the IPO price band’s upper end and the grey market’s current premium, the estimated listing price of Landmark Immigration Consultants shares is Rs 89 per share, which is 23.61% higher than the IPO price of Rs 72.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The allotment for Landmark Immigration Consultants IPO will be finalised on Tuesday, January 21. Find below the steps to check the allotment status on the websites of BSE and Kfin Technologies.

Steps to check Landmark Immigration Consultants IPO allotment status on BSE:

  • Visit the IPO allotment page on the BSE website here.

  • Select ‘Equity’ under the issue type.

  • From the issue name dropdown menu, choose ‘Landmark Immigration Consultants Limited’.

  • Enter the PAN or Application number.

  • Tick the ‘I’m not a robot’ captcha.

  • Click the Search option to check your IPO allotment details.

Steps to check Landmark Immigration Consultants IPO allotment status on KFin Technologies:

  • Visit the IPO Status page on the KFintech website here.

  • Click on any of the links displayed on the page to view IPO Allotment Status.

  • From the IPO dropdown menu, choose ‘Landmark Immigration Consultants Limited’.

  • Select the input option as PAN, Application number, or Demat Account.

  • Enter your PAN, Application number or Demat Account details based on the option selected above.

  • Enter the captcha details to proceed ahead.

  • Click the Submit option to check your IPO allotment details.

Landmark Immigration Consultants IPO Listing Date

Shares of Landmark Immigration Consultants Limited will list on BSE SME with Thursday, Jan. 23 as the likely listing date.

Unsuccessful bidders of the Landmark Immigration Consultants Ltd. IPO will receive the refunds of their investment on Jan. 22. Successful bidders will also get the credit of shares to their demat accounts on the same day.

Landmark Immigration Consultants IPO Details

Landmark Immigration Consultants IPO was a book-built issue consisting of a fresh issuance of 56 lakh shares offered at a price band of Rs 70 to Rs 72 apiece. The total issue size is valued at Rs 40.32 crore at the upper price band.

Use Of Proceeds

In its red herring prospectus, Landmark Immigration Consultants Ltd. has proposed to use the net proceeds from the IPO to fund capital expenditure on setting up new branches and advertising expenses towards boosting the brand’s visibility. A part of the proceeds will be used for pursuing inorganic growth initiatives and general corporate purposes. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.

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