ECOS (India) Mobility & Hospitality Limited IPO opens on August 28, 2024, and closes on August 30, 2024. The allotment for the ECOS (India) Mobility & Hospitality Limited IPO is anticipated to be completed on Monday, September 2, 2024. The IPO will be tentatively listed on the BSE and NSE on Wednesday, September 4, 2024.

The ECOS (India) Mobility & Hospitality Limited IPO’s price band is Rs 318 to Rs 334 per share. The IPO is a book-built issue of Rs  601.20 crores.

ECO Mobility IPO Details

IPO Date	August 28, 2024 to August 30, 2024
Listing Date	[.]
Face Value	₹2 per share
Price	₹318 to ₹334 per share
Lot Size	44 Shares
Total Issue Size	18,000,000 shares (aggregating up to ₹601.20 Cr)
Offer for Sale	18,000,000 shares (aggregating up to ₹601.20 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	60,000,000
Shareholding post-issue	60,000,000

ECO Mobility IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	44	₹14,696
Retail (Max)	13	572	₹191,048
S-HNI (Min)	14	616	₹205,744
S-HNI (Max)	68	2,992	₹999,328
B-HNI (Min)	69	3,036	₹1,014,024

Objects of the Issue (ECO Mobility IPO Objectives)

The company will not directly receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

About ECOS (India) Mobility & Hospitality Limited

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 minivans, 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.

ECO Mobility IPO is a book-built issue of Rs 601.20 crores. The issue is entirely an offer for the 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 be listed on BSE, NSE with a 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.

ECOS (India) Mobility & Hospitality Limited Financial Information (Restated Consolidated)

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
			Amount in ₹ Crore

ECO Mobility IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Net offer
Retail Shares Offered	Not less than 35.00% of the Offer
NII (HNI) Shares Offered	Not less than 15.00% of the Offer

ECO Mobility IPO Timeline (Tentative Schedule)

ECO Mobility IPO opens on August 28, 2024, and closes on August 30, 2024.

IPO Open Date	Wednesday, August 28, 2024
IPO Close Date	Friday, August 30, 2024
Basis of Allotment	Monday, September 2, 2024
Initiation of Refunds	Tuesday, September 3, 2024
A credit of Shares to Demat	Tuesday, September 3, 2024
Listing Date	Wednesday, September 4, 2024
Cut-off time for UPI mandate confirmation	5 PM on August 30, 2024