ECO Mobility IPO Subscribed 64.18x on Day 3

The ECO Mobility IPO closed on August 30, 2024, after receiving a total subscription of 30.47x. The allotment for the ECO Mobility IPO is expected to be finalised on September 2, 2024. The IPO will be listed on BSE and NSE, with a tentative listing date of September 4, 2024. ECO Mobility IPO price band has been set at ₹318 to ₹334 per share. The minimum lot size for an application is 44 Shares. The minimum amount of investment required by retail investors is ₹14,696. The minimum lot size investment for sNII is 14 lots (616 shares), amounting to ₹205,744; for bNII, it is 69 lots (3,036 shares), amounting to ₹1,014,024.

Day Wise Subscription

On the first day of bidding, ECO Mobility IPO subscribed 3.35 times. The public issue subscribed 3.84 times in the retail category, 0.04 times in QIB, and 6.64 times in the NII category.

On the 2nd day of bidding, ECO Mobility IPO subscribed 9.55 times. The public issue subscribed 8.99 times in the retail category, 0.10 times in QIB, and 23.47 times in the NII category.

On the last day, ECO Mobility IPO subscribed 64.18 times. The public issue subscribed 19.66 times in the retail category, 136.85 times in QIB, and 71.17 times in the NII category.

Grey Market Premium

ECOS (India) Mobility IPO’s last GMP is ₹125. With a price band of ₹334.00, ECOS (India) Mobility IPO’s estimated listing price is ₹459 (cap price + today’s GMP). The expected percentage gain/loss per share is 37.43%.

About Ecos (India) Mobility & Hospitality Ltd

Incorporated in February 1996, Ecos (India) Mobility & Hospitality Ltd. (EIMHL) is the largest and most profitable chauffeur-driven mobility provider to corporates in India in terms of revenue. It is primarily engaged in the business of providing chauffeured car rentals (CCR) and employee transportation services (ETS) and has been providing these services to corporate customers.

The company operates a fleet of more than 12,000 economy, luxury, minivans, and luxury coaches. It also provides special vehicles such as luggage vans, limousines, vintage cars, and vehicles for accessible transportation for people with disabilities.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.