ECO Mobility IPO Opened Today: Did You Subscribe?

The chauffeur-driven car rental service provider ECOS (India) Mobility & Hospitality IPO has opened for subscription on August 28, 2024, and will close on August 30, 2024. ECO Mobility IPO is a book-built issue of ₹601.20 crores. The issue is entirely an offer for sale of 1.8 crore shares.

As per RHP, the price band for ECO Mobility IPO 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 ₹2,05,744, and for bNII, it is 69 lots (3,036 shares), amounting to ₹10,14,024.

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.

Grey Market Premium

ECOS (India) Mobility IPO’s last GMP is ₹194. With a price band of ₹334.00, ECOS (India) Mobility IPO’s estimated listing price is ₹528 (cap price + today’s GMP). The expected percentage gain/loss per share is 58.08%.

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 from operations and profit after tax for Fiscal 2023. The company is primarily engaged in the business of providing chauffeured car rentals (CCR) and employee transportation services (ETS). It has been providing these services to corporate customers, including Fortune 500 companies in India, for more than 25 years.

The company operates a fleet of more than 12,000 economy, luxury, minivans, and luxury coaches. It also provides speciality 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.