ECOS Mobility IPO: Investors Gear Up for Tomorrow’s Strong Listing as GMP Signals Major Gains
The initial public offering (IPO) of ECOS (India) Mobility & Hospitality has ended with significant oversubscription, and the share allotment has been finalized. Now, investors are eagerly awaiting the listing of ECOS Mobility shares, which is expected to happen tomorrow.
Key Dates and Details
The bidding for the ECOS Mobility IPO took place from August 28 to August 30. Following the “T+3” listing rule, the shares are set to be listed on September 4, which falls on Wednesday. Investors who were allotted shares in the IPO are now looking forward to the listing.
Strong Grey Market Premium (GMP)
As the listing date approaches, the grey market premium (GMP) for ECOS Mobility shares is showing signs of a strong debut. GMP is a key indicator for investors to estimate the potential listing price of the shares.
Currently, ECOS Mobility shares are trading at a premium of ₹161 per share in the unlisted grey market. This suggests that the shares could list at around ₹495 each, which is a 48% increase over the IPO price of ₹334 per share.
ECOS Mobility IPO Overview
The ECOS Mobility IPO raised ₹601.20 crore, entirely through an offer for sale of 1.8 crore equity shares. The price band was set between ₹318 and ₹334 per share. The IPO received a strong response from investors, with the overall subscription reaching 64.26 times the shares available. The retail segment was subscribed 19.79 times, the Non-Institutional Investors (NII) segment 71.23 times, and the Qualified Institutional Buyers (QIBs) category 136.85 times.
The equity shares will be listed on both the BSE and NSE. Equirus Capital Pvt Ltd and IIFL Securities Ltd are the lead managers for the IPO, and Link Intime India Private Ltd is the registrar.
Conclusion
With the listing date just around the corner, the strong grey market premium indicates that ECOS Mobility shares are likely to make a robust debut. Investors who participated in the IPO are closely watching for tomorrow’s listing to see how the shares perform.
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