ECOS (India) Mobility & Hospitality Limited IPO

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

ECO Mobility IPO Lot Size

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)

ECO Mobility IPO Reservation

ECO Mobility IPO Timeline (Tentative Schedule)

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