ECOS Mobility IPO Launches Tomorrow: Grab Shares Between ₹318-₹334 – 10 Essential Details You Can’t Miss
The ECOS (India) Mobility and Hospitality IPO opens for subscription tomorrow, Wednesday, August 28, and will close on Friday, August 30. The company is offering shares priced between ₹318 and ₹334 each.
What ECOS Mobility Does
ECOS Mobility has been providing employee transportation and chauffeured car services to corporate clients, including major companies in India, for over 25 years. They manage over 3.1 million journeys each year, with an average of 8,400 trips daily. They offer a wide range of vehicles, from luxury coaches to self-drive cars, across major cities like Delhi, Mumbai, and Bengaluru.
Financial Performance
In fiscal year 2024, ECOS Mobility’s revenue was ₹554.41 crore, up from ₹422.68 crore in 2023 and ₹147.34 crore in 2022. Their profit after tax for the same period was ₹62.53 crore, compared to ₹43.59 crore and ₹9.87 crore in the previous years.
IPO Lot Size and Allocation
The IPO has a lot size of 44 shares, and investors can apply in multiples of 44 shares. Anchor investors will be allocated shares today, August 27. The public issue includes a sale of 18 million shares, with major sales by promoters Rajesh and Aditya Loomba.
Comparisons and Valuation
The company’s IPO is being compared to Wise Travel India Ltd and Shree OSFM EMobility Ltd, which have higher P/E ratios. The grey market premium (GMP) for the IPO is currently ₹151, indicating a strong interest and a potential listing price of around ₹485, which is 45% above the highest issue price.
Key Dates and Information
- IPO Opens: August 28
- IPO Closes: August 30
- Price Band: ₹318 to ₹334 per share
- Listing Date: September 4
- Allotment Date: September 2
- Refunds and Credit: September 3
Equirus Capital Private Ltd and IIFL Securities Ltd are the lead managers for the IPO, while Link Intime India Private Ltd is the registrar. The IPO reserves 50% of shares for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.
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