Landmark Immigration IPO which opened on January 16, 2025, will conclude today. The three-day subscription window for the initial public offering of Landmark Immigration was very successful. The Landmark Immigration IPO consists of 56,00,000 equity shares on offer. However, the IPO does not have any offer-for-sale component.
Landmark Immigration IPO- Oversubscription
National Stock Exchange (NSE) in its data reveals that Non-Institutional Investors (NIIs) have driven demand. Non-Institutional Investor’s demand for the Landmark Immigration IPO led to oversubscription in their reserved category by 23.26 times. Additionally, Retail Individual Investors (RIIs) oversubscribed their portion by 32.36 times. Additionally, Qualified Institutional Buyers (QIBs) subscribed to 1.13 times their reserved shares of their allocation.
IPO comprises a fresh issue of 56,00,000 million equity shares and no offer-for-sale component. The price band is set at Rs 70-72 per share, with a lot size of 1600 shares. Retail investors can bid for a minimum of Rs 1,15,200 for one lot at the upper price band.
Landmark Immigration IPO – GMP
The strong demand for IPO is seen in the grey market too, where unlisted shares are available at Rs 98 apiece. This indicates a grey market premium (GMP) of Rs 26 or 36.11 per cent over the upper end of the IPO price band, according to sources tracking unofficial markets.
Since the IPO subscription closes today, the basis of allotment for shares will be finalized tentatively by January 21, 2025. Successful allottees of IPO will receive shares in their demat accounts by January 22, 2025. Moreover, Landmark Immigration shares tentatively will be listed on the BSE and NSE by January 23, 2025.
About Company
Landmark Immigration is a Global consultancy services provider Landmark Immigration Consultants offers its education consultancy services to students who want to study abroad. The company also provides immigration consultancy to its clients for visas, tourism, business, and permanent residency, particularly in Canada.
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