ECO Mobility IPO will open for subscription from 28 August 2024. The company aims for an issue size of ₹601.20 Cr through this IPO.
Company Overview
| Full name | ECOS (India) Mobility & Hospitality Limited |
| Sector | Other |
| Industry | Business Support |
| Company Website | https://www.ecosmobility.com/ |
About Company
ECOS Mobility and Hospitality is the largest and most profitable provider of chauffeur-driven mobility services to corporates in India. The company specializes in offering chauffeured car rentals (CCR) and employee transportation services (ETS), catering primarily to corporate clients. As of 30 September 2023, ECOS Mobility and Hospitality operated across 109 cities in India, utilizing both its vehicles and those of vendors. The company’s services extend across 21 states and four union territories. In Fiscal 2023, ECOS Mobility catered to the CCR and ETS needs of over 750 corporate customers, completing more than 2,100,000 trips, averaging over 5,700 trips per day. Additionally, the company offers self-drive cars in Delhi, Gurugram, Mumbai, and Bengaluru.
ECOS Mobility and Hospitality operates a fleet of over 9,000 vehicles, ranging from economy to luxury cars, minivans, and luxury coaches. The company also offers specialty vehicles, including luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities.
The Objectives of the Issue
- The company will not directly receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.
ECO Mobility IPO Timetable
| IPO Opening date | 28 August 2024 |
| IPO Closing | 30 August 2024 |
| Basis of Allotment | 02 September 2024 |
| Initiation Refund | 03 September 2024 |
| Credit to Demat Account | 03 September 2024 |
| Listing Date | 04 September 2024 |
ECO Mobility IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹601.20 Cr – 18,000,000 shares |
| Fresh Issue | ₹601.20 Cr – 18,000,000 shares |
| Offer for sale | Nil |
| Face value | ₹02 per share |
| Price Band | ₹318 to ₹334 per share |
| Lot size | 44 Shares |
| Shareholding pre-issue | 60,000,000 |
| Shareholding post-issue | 60,000,000 |
| Listing Exchange | BSE & NSE |
ECO Mobility IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 44 | ₹14,696 |
| Retail (Max) | 13 | 572 | ₹191,048 |
| S-HNI (Min) | 14 | 616 | ₹205,744 |
| S-HNI (Max) | 68 | 2,992 | ₹999,328 |
| B-HNI (Min) | 69 | 3,036 | ₹1,014,024 |
ECO Mobility Offer Documents
ECO Mobility IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
ECO Mobility Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 147.34 | 422.68 | 554.41 |
| Expenses | 138.57 | 367.14 | 485.89 |
| Net income | 9.77 | 43.56 | 62.53 |
| Margin (%) | 6.63 | 10.30 | 11.29 |
ECO Mobility Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 1.63 | 7.26 | 10.42 | 10.42 |
| PE Ratio | – | – | 30.51 – 32.05 | 30.51 – 32.05 |
* Calculated on the basis of annualized Profits After Tax for FY 2024
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 14.80 | 46.70 | 42.75 |
| NAV | 11.93 | 19.19 | 29.07 |
| ROCE (%) | 19.07 | 40.90 | 42.88 |
| EBITDA (%) | 12.25 | 16.50 | 16.23 |
| Debt/Equity | 0.05 | 0.29 | 0.12 |
Company Promoters
- Rajesh Loomba
- Aditya Loomba
- Nidhi Seth
- Rajesh Loomba Family Trust
- Aditya Loomba Family Trust
Promoter Holding
| Pre Issue Share Holding | 97.75% |
| Post Issue Share Holding | 67.75% |
ECO Mobility Offer GMP Update
Coming Soon
ECO Mobility IPO Subscription Update
Coming Soon
ECO Mobility IPO Allotment Status
ECOS Mobility IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.
ECO Mobility IPO Listing Details
| Listing Date | 04 September 2024 |
| BSE Scrip Code | Coming Soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Listing Day Update
| Listing Exchange | BSE & NSE |
| Final Issue Price | Coming Soon |
| Open | |
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| Last Trade |
ECO Mobility Lead Manager(s)
EQUIRUS CAPITAL PRIVATE LIMITED
12th Floor, C Wing, Marathon Futurex,
N M Joshi Marg, Lower Parel,
Mumbai 400 013, Maharashtra
Phone: +91 22 4332 0735
Email: ecos.ipo@equirus.com
Website: www.equirus.com
ECO Mobility Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 81081 149499
Email: ecorentacar.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Details
ECOS (INDIA) MOBILITY & HOSPITALITY LIMITED
45, First Floor, Corner Market,
Malviya Nagar, New Delhi-110017
Phone: +91 11 41326436
Email: legal@ecorentacar.com
Website: www.ecosmobility.com
ECO Mobility IPO FAQs
How many shares in ECOS Mobility IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for an ECOS Mobility Public Offer?
The best way to apply for ECOS Mobility public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is ECOS Mobility IPO GMP today?
ECOS Mobility IPO GMP today is ₹ 65 per share.
What is the ECOS Mobility kostak rate today?
ECOS Mobility kostak rate today is ₹ NA per application.
What is ECOS Mobility Subject to Sauda rate today?
ECOS Mobility Subject to Sauda rate today is ₹ 3,400 per application.
Final thoughts
ECO Mobility IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
