ECOS Mobility & Hospitality’s IPO is scheduled to open on August 28, 2024, and will thus close on August 30, 2024. As a Book Built Issue, it aims to raise approximately ₹601.20 crores. Specifically, this amount includes both a fresh issue and an offer for sale of up to 18,000,000 equity shares, each with a face value of ₹2.
Table of contents
- ECOS Mobility IPO Overview
- Company Details
- Key Dates
- Financials (₹ in Crores)
- Objective of the Issue
- Company Promoters
- ECOS Mobility IPO GMP (Grey Market Premium)
- ECOS Mobility IPO Application Form PDF
- ECOS Mobility IPO Subscription Status
- ECOS Mobility IPO Allotment Status
- IPO Review
- ECOS Mobility IPO Registrar
- ECOS Mobility IPO Lead Manager
- ECOS Mobility and Hospitality Contact
- FAQs
ECOS Mobility IPO Overview
| Overview Points | Description |
|---|---|
| Company Name | ECOS Mobility & Hospitality Limited |
| Industry | Transportation |
| IPO Issue Type | Book Built Issue |
| Open Date | August 28, 2024 |
| Close Date | August 30, 2024 |
| Total Issue Size | ₹601.20 Crores(18,000,000 Equity Shares) |
| Face Value | ₹2 Per Equity Share |
| Fresh Issue | ₹601.20 Crores(18,000,000 Equity Shares) |
| Price Band | ₹318 to ₹334 Per Share |
| Listing on | BSE & NSE |
| Lot Size | 44 shares |
| Offer for Sale | ₹601.20 Crores(18,000,000 Equity Shares) |
| Shares Offered to Retail | 35% |
| Shares Offered to QIB | 50% |
| Shares Offered to HNI | 15% |
Company Details
Incorporated in February 1996, ECOS (India) Mobility & Hospitality Limited specializes in chauffeur-driven car rental services in India. The company primarily provides chauffeured car rentals (CCR) and employee transportation services (ETS).
For over 25 years, ECOS has offered these services to corporate clients, including Fortune 500 companies across India. As of March 31, 2024, the company operates in 109 cities, utilizing both its own vehicles and vendors. Additionally, it spans 21 states and four union territories, thus demonstrating its extensive reach and penetration into diverse regions throughout the country.
In Fiscal 2024, ECOS (India) Mobility served the CCR and ETS needs of over 1,100 organizations, completing more than 3.1 million trips. The company maintains a fleet of 12,000 vehicles in various categories, including economy cars, luxury cars, vans, and specialty vehicles. Additionally, it provides self-driven car rentals in Delhi, Gurugram, Mumbai, and Bengaluru. ECOS caters to clients across a wide range of sectors, such as IT, consulting, business process outsourcing (BPO), e-commerce, healthcare, and pharmaceuticals.
Key Dates
| Events | Date |
|---|---|
| IPO Open Date | August 28, 2024 |
| IPO Close Date | August 30, 2024 |
| Basis of Allotment | September 2, 2024 |
| Refunds | September 3, 2024 |
| Credit to Demat Account | September 3, 2024 |
| IPO Listing Date | September 4, 2024 |
Financials (₹ in Crores)
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | ₹296.66 | ₹229.71 | ₹112.38 |
| Revenue | ₹568.21 | ₹425.43 | ₹151.55 |
| Profit After Tax | ₹62.53 | ₹43.59 | ₹9.87 |
| Net Worth | ₹177.41 | ₹115.13 | ₹71.56 |
| Reserves and Surplus | ₹165.41 | ₹115.07 | ₹71.5 |
| Total Borrowing | ₹21.72 | ₹32.95 | ₹3.34 |
Objective of the Issue
- The company will not directly receive any proceeds from the offer. Instead, all offer proceeds will go to the selling shareholders. Specifically, these proceeds will be distributed in proportion to the offered shares sold by each selling shareholder as part of the offer.
Company Promoters
- Rajesh Loomba
- Aditya Loomba
- Nidhi Seth
- Rajesh Loomba Family Trust
- Aditya Loomba Family Trust
ECOS Mobility IPO GMP (Grey Market Premium)
Curious about the latest Grey Market Premium (GMP) for the ECOS Mobility IPO? Look no further! Visit our dedicated IPO GMP section where we keep you in the loop with daily updates on all IPOs, including ECOS Mobility Limited. Additionally, stay ahead of the game with real-time GMP insights that can help you make informed investment decisions. Whether you’re a seasoned investor or just getting started, our updates have got you covered!
ECOS Mobility IPO Application Form PDF
To download the ECOS Mobility IPO application form, simply check out the IPO Forms. Additionally, you can download the ASBA IPO Forms PDF.
ECOS Mobility IPO Subscription Status
This IPO subscription kicks off on August 28, 2024! Meanwhile, if you’re looking to stay updated with the latest subscription figures, head over to our IPO Subscription section for real-time data on all ongoing IPOs. Moreover, don’t miss out on the action—track the progress as it happens!
ECOS Mobility IPO Allotment Status
To check the ECOS Mobility IPO allotment status go to the IPO registrar website Link Intime India Pvt Ltd or go to IPO Allotment.
To check allotment status. Firstly, follow the steps below:
- Firstly, go to the link given above.
- Secondly, select the company name.
- Then, enter your PAN Number, Beneficiary Number, Application Number, or CAF Number.
- Finally, submit the details to get the allotment status.
IPO Review
Strengths:
- ECO Mobility stands as India’s largest and most profitable chauffeur-driven mobility provider, leading in revenue and profit after tax for Fiscal 2023.
- With over 25 years of experience, the company delivers seamless corporate transportation through its extensive fleet of over 12,000 vehicles.
- Additionally, the company operates across 109 cities in India, effectively covering both the ETS and CCR markets.
- Its premium cab services cater to businesses that prioritize employee well-being, emphasizing comfort and safety.
- Furthermore, ECO Mobility leverages an asset-light model and strategic vendor partnerships to enhance operational efficiency and profitability.
- The company’s expansion into Tier-II and Tier-III cities reflects its strategy to tap into growing markets and meet the increasing demand for corporate mobility solutions.
Risks:
- ECO Mobility faces several risks. For instance, lapses in service quality could lead to cancellations, damaging the company’s reputation and affecting its financial performance.
- Additionally, the company depends on third-party vendors for vehicles and chauffeurs, which exposes it to risks from any adverse changes in these relationships.
- Moreover, failure to meet stringent customer agreements might result in significant penalties, impacting ECO Mobility’s profitability.
- The company’s reliance on a few key customers, particularly without long-term contracts, poses a risk of sudden revenue loss if these contracts are not renewed.
- Furthermore, negative customer experiences or adverse incidents could harm the company’s brand and reputation, leading to a decline in demand.
- Additionally, rising operational costs coupled with intense competition could erode ECO Mobility’s profitability and threaten its market position.
ECOS Mobility IPO Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 81081 149499
Email: ecorentacar.ipo@linkintime.co.in
Website: www.linkintime.co.in
ECOS Mobility IPO Lead Manager
EQUIRUS CAPITAL PRIVATE LIMITED
12th Floor, C Wing, Marathon Futurex,
N M Joshi Marg, Lower Parel,
Mumbai 400 013, Maharashtra
Phone: +91 22 4332 0735
Email: ecos.ipo@equirus.com
Website: www.equirus.com
ECOS Mobility and Hospitality Contact
ECOS (INDIA) MOBILITY & HOSPITALITY LIMITED
45, First Floor, Corner Market,
Malviya Nagar, New Delhi-110017
Phone: +91 11 41326436
Email: legal@ecorentacar.com
Website: www.ecosmobility.com
FAQs
The allocation for investors in the ECOS Mobility IPO is as follows: 50% is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for Retail Investors.
To apply for the ECOS Mobility public offer, the most convenient method is through Internet banking ASBA (read more about ASBA here). Alternatively, you can apply online via your stock broker using UPI. If you prefer, you may also fill out a paper application form and submit it to your broker.
The GMP (Grey Market Premium) for the ECOS Mobility IPO today is INR NA per share
The kostak rate for the ECOS Mobility IPO today is INR NA per application.
Additionally, the Subject to Sauda rate for the ECOS Mobility IPO today is INR NA per application.
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