Ecos Mobility and Hospitality will launch its IPO on August 28, offering 1.8 crore shares for sale. This IPO is an Offer for Sale (OFS), meaning that the company’s promoters, Rajesh Loomba and Aditya Loomba, will sell part of their stakes. The proceeds from the sale will go directly to these selling shareholders. The price range for the shares will be announced soon.
Ecos Mobility has been in business for over 25 years, offering chauffeured car rentals and employee transportation services to corporate clients, including many Fortune 500 companies in India. The company operates a fleet of over 9,000 vehicles, ranging from economy cars to luxury vehicles like Audi, BMW, and Mercedes-Benz. They also offer specialty vehicles such as luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities.
The company serves clients in various industries, including IT, healthcare, e-commerce, and manufacturing. Some of their major clients include HCL Corp, HDFC Life, and Thomas Cook India.
In FY24, Ecos Mobility’s revenue from operations grew by 31% year-on-year to ₹554 crore, and their profit after tax (PAT) rose by 43% to ₹62.5 crore. Equirus Capital and IIFL Securities are managing the IPO.
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