ECOS (India) Mobility & Hospitality Limited IPO
- IPO Date28 Aug, 2024 to 30 Aug, 2024
- Listing Date04 Sep, 2024
- Face Value₹2 per share
- Issue Price₹318 to ₹334 per share
- Lot Size44 Shares
- Minimum Investment₹14,696
- Listing AtBSE, NSE
- Total Issue Size1,80,00,000 Shares
(aggregating up to ₹601.20 Cr) - Fresh Issue1,80,00,000 Shares
(aggregating up to ₹601.20 Cr)
- Offer for Sale-
- Issue TypeBook Built Issue IPO
- Share holding pre issue6,00,00,000
- Shareholding post issue6,00,00,000
IPO Dates
Closing Date
30 Aug, 2024
Initiation of Refunds
03 Sep, 2024
Listing Date
04 Sep, 2024
28 Aug, 2024
Opening Date
02 Sep, 2024
Basis of Allotment
03 Sep, 2024
Credit of Shares
ECOS (India) Mobility & Hospitality Limited Lot Size
Investors can bid for a minimum of 44 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 44 | ₹14,696 |
| B-HNI (Min) | 69 | 3036 | ₹10,14,024 |
| S-HNI (Min) | 14 | 616 | ₹2,05,744 |
| S-HNI (Max) | 68 | 2992 | ₹9,99,328 |
| Retail (Max) | 13 | 572 | ₹1,91,048 |
ECOS (India) Mobility & Hospitality Limited Promoter Holding
The Promoters of the company, are Rajesh Loomba, Aditya Loomba, Nidhi Seth, Rajesh Loomba Family Trust and Aditya Loomba Family Trust.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 97.75% | 67.75% |
ECOS (India) Mobility & Hospitality Limited COMPANY INFORMATION
ECO Mobility IPO is a book built issue of Rs 601.20 crores. The issue is entirely an offer for sale of 1.8 crore shares. ECO Mobility IPO opens for subscription on August 28, 2024 and closes on August 30, 2024. The allotment for the ECO Mobility IPO is expected to be finalized on Monday, September 2, 2024. ECO Mobility IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, September 4, 2024. ECO Mobility IPO price band is 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, and for bNII, it is 69 lots (3,036 shares), amounting to ₹1,014,024. Equirus Capital Private Limited and Iifl Securities Ltd are the book running lead managers of the ECO Mobility IPO, while Link Intime India Private Ltd is the registrar for the issue. Refer to ECO Mobility IPO RHP for detailed information.
Incorporated in February 1996, ECOS (India) Mobility & Hospitality Limited is a chauffeur driven car rental service provider in India. The company's primary business is to provide chauffeured car rentals (“CCR”) and employee transportation services (“ETS”).
The company has been offering these services to corporate clients, including Fortune 500 companies in India.
As of March 31, 2024, the company had a presence throughout India, operating in 109 cities using its own vehicles and vendors. It was spread across 21 states and four union territories, showcasing its extensive reach and penetration into diverse regions across the country.
In Fiscal 2024, ECOS (India) Mobility has served the CCR and ETS requirements of over 1,100 organizations in India.
The company offers self-driven cars in Delhi, Gurugram, Mumbai, and Bengaluru.
In Fiscal 2024, ECOS (India) Mobility completed over 3,100,000 trips, averaging more than 8,400 trips per day through its CCR and ETS segments.
The company has a fleet of over 12,000 cars, including economy, luxury, and mini vans, as well as specialty vehicles such as luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities.
The clientele of the company include InterGlobe Aviation Limited (Indigo), HCL Corporation Private Limited, Safexpress Private Limited, Deloitte Consulting India Private Limited, Urbanclap Technologies Private Limited (Urban Company), IndusInd Bank Limited, Foresight Group Services Limited FZCO, HDFC Life Insurance Company Limited, Thomas Cook, India, Grant Thornton Bharat LLP, WM Global Technology Services India Private Limited (Walmart Global Tech), VRB Consumer Products Private Limited, Pinkerton Corporate Risk Management Private Limited, MedGenome Labs Limited, Dreamfolks Services Limited, Mercer Consulting(I) Private Limited, FNF India Private Limited (Fidelity), exl Service.com (India) Private Limited, Gujarat Guardian Limited and VA Tech Wabag Limited.
On March 31, 2024, the company had 671 employees in its crucial operations team, responsible for real-time quality checks and issue resolution.
Analysis of ECOS (India) Mobility & Hospitality Limited IPO
The Initial Public Offering (IPO) of ECOS (India) Mobility & Hospitality Limited is a critical event that demands a detailed examination. This summary provides an overview of the key aspects, pros, and cons of the IPO, with SEO-optimized content structured with appropriate headings and subheadings.
Overview of ECOS (India) Mobility & Hospitality Limited
ECOS (India) Mobility & Hospitality Limited is engaged in the mobility and hospitality sector. The company has decided to go public to raise funds for expansion, debt repayment, and other operational needs. The document outlines the specifics of the IPO, including the number of shares, pricing, and the intended use of proceeds.
Key Points of the IPO
- Number of Shares: The company is offering a specific number of shares to the public, detailed in the IPO document.
- Pricing: The price range for the shares is also provided, which will be finalized based on the demand and market conditions.
- Use of Proceeds: The funds raised will be utilized for business expansion, debt repayment, and other operational requirements.
- Market Opportunity: The document discusses the market potential and growth opportunities in the mobility and hospitality sectors.
- Risk Factors: Various risks associated with the IPO, such as market volatility, regulatory changes, and operational risks, are highlighted.
Pros of ECOS (India) Mobility & Hospitality Limited IPO
- Growth Potential: The company operates in a growing sector with increasing demand for mobility and hospitality services.
- Expansion Plans: The funds from the IPO will support the company’s expansion, potentially leading to increased revenue and market share.
- Debt Reduction: A portion of the proceeds will be used to reduce debt, improving the company’s financial health.
- Experienced Management: The company has a strong management team with experience in the industry.
- Brand Recognition: ECOS (India) is already a recognized name in its industry, which may attract investors.
Cons of ECOS (India) Mobility & Hospitality Limited IPO
- Market Risks: The company is exposed to market risks, including competition and economic downturns, which could affect its performance.
- Regulatory Challenges: Changes in government policies and regulations could impact the company’s operations and profitability.
- Operational Risks: As the company expands, it may face operational challenges, such as managing new locations and maintaining service quality.
- High Valuation: If the IPO is priced too high, it may deter potential investors, leading to lower-than-expected demand.
- Dependence on Key Markets: The company’s performance is heavily dependent on certain geographic regions, making it vulnerable to local economic conditions.
Final Thoughts
The IPO of ECOS (India) Mobility & Hospitality Limited presents both opportunities and challenges for potential investors. While the company operates in a promising sector and has plans for growth, it also faces significant risks that must be carefully considered. Investors should weigh the pros and cons before making a decision.
Conclusion
Investors considering ECOS (India) Mobility & Hospitality Limited's IPO should weigh the company's strategic position and growth potential against the market and financial risks involved. The company's strong market presence and expansion plans offer significant upside, but the inherent risks of the industry and financial concerns should not be overlooked.
FAQs About Ecos (India) Mobility Hospitality Limited Ipo
ECOS (India) Mobility & Hospitality Limited IPO will open on 28 Aug, 2024 and close on 30 Aug, 2024. Investors must apply within this period to participate.
The ECOS (India) Mobility & Hospitality Limited IPO price band is set between ₹318.00 and ₹334.00 per share. The minimum lot size is 44, requiring an investment of at least ₹14696.00.
The ECOS (India) Mobility & Hospitality Limited IPO shares are expected to be listed on 04 Sep, 2024, subject to regulatory approvals and final allotment.
You can track your ECOS (India) Mobility & Hospitality Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The ECOS (India) Mobility & Hospitality Limited IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.