ECO Mobility is scheduled to hit the market on August 28, 2024 and close on August 30, 2024. ECO Mobility plans to raise around ₹601.20 Cr through an IPO with a sale of up to 18,000,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Incorporated in February 1996, ECOS (India) Mobility & Hospitality Limited is a leading chauffeur-driven car rental service provider in India, specializing in chauffeured car rentals (CCR) and employee transportation services (ETS). The company serves a diverse range of corporate clients, including Fortune 500 companies, and operates in 109 cities across 21 states and four union territories as of March 31, 2024. With a fleet of over 12,000 vehicles, ECOS offers a variety of options, including economy cars, luxury vehicles, mini vans, and specialty vehicles like luggage vans and limousines. In Fiscal 2024, the company completed over 3,100,000 trips, averaging more than 8,400 trips per day.
ECOS has successfully catered to the CCR and ETS needs of over 1,100 organizations in India during the same fiscal year. Its clientele includes prominent companies such as InterGlobe Aviation Limited (Indigo), HCL Corporation, and Deloitte Consulting. The company also provides self-driven car rentals in major cities like Delhi, Gurugram, Mumbai, and Bengaluru. Additionally, ECOS employs a dedicated operations team of 671 members focusing on real-time quality checks and issue resolution to ensure top-notch service delivery.
ECO Mobility IPO Details
ECO Mobility IPO opens on August 28, 2024, and closes on August 30, 2024. The Listing date for ECO Mobility IPO is on September 4, 2024. The price band for IPO is ₹318 to ₹334 per share and lot size of 44 Shares.
| IPO Date | August 28, 2024 to August 30, 2024 |
| Listing Date | September 4, 2024 |
| Price | ₹318 to ₹334 per share |
| Lot Size | 44 Shares |
| Issue Size | ₹601.20 Cr |
| Face Value | ₹10 per share |
ECO Mobility IPO Tentative Timetable
ECO Mobility opening date is August 28, 2024 and close date is August 30, 2024. The IPO allotment date is September 2, 2024. Therefund initiation of IPO is on September 3, 2024. The credit of shares in demat account is on September 3, 2024. The listing date is on September 4, 2024.
| Event | Date |
|---|---|
| IPO Opening | August 28, 2024 |
| IPO Closing | August 30, 2024 |
| IPO Allotment Date | September 2, 2024 |
| Refund Initiation | September 3, 2024 |
| Shares Credit to Demat | September 3, 2024 |
| Lisiting Date | September 4, 2024 |
ECO Mobility IPO Lot Size
Lot Size of this IPO is 44 shares. A retail-individual investor can apply for up to 13 lots (572 shares or ₹191,048).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 44 | ₹14,696 |
| Retail(Maximum) | 13 | 572 | ₹191,048 |
| S-HNI (Minimum) | 14 | 616 | ₹205,744 |
| B-HNI (Minimum) | 69 | 3,036 | ₹1,014,024 |
ECO Mobility IPO Promoter Holding
| Pre Issue Share Holding | 97.75% |
| Post Issue Share Holding | 67.75% |
ECO Mobility IPO Review
Ecos (India) Mobility & Hospitality mainly provides chauffeur-driven car rentals and employee transportation services. They have been serving corporate clients, including Fortune 500 companies in India, for over 25 years.
The promoters, Rajesh Loomba and Aditya Loomba, have more than 50 years of combined experience in the chauffeur-driven transport industry.
Financially, Ecos Mobility's revenue increased from ₹1,515.54 million in FY22 to ₹4,254.29 million in FY23, and now stands at ₹5,682.05 million in FY24. EBITDA also rose from ₹180.51 million in FY22 to ₹697.27 million in FY23, reaching ₹899.63 million in FY24. The profit after tax (PAT) went up from ₹98.71 million in FY22 to ₹435.61 million in FY23 and is now at ₹622.87 million in FY24. This shows a strong financial performance.
For the Ecos Mobility IPO, the company is offering shares with a pre-issue earnings per share (EPS) of ₹10.45, which remains the same post-issue. The pre-issue price-to-earnings (P/E) ratio is 32.05x, while the post-issue P/E ratio is also 32.05x, compared to the industry average of 31.85x. The company's return on capital employed (ROCE) for FY24 is 42.88%, and the return on equity (ROE) is 42.75%. These figures suggest that the IPO is fairly priced.
The Grey Market Premium (GMP) for Ecos Mobility indicates that there could be listing gains of about 30% to 35%. Considering the company's financial performance and the IPO valuation, Investors may consider putting their money in this company for the medium to long term.
ECO Mobility IPO Subscription Status (Bidding Details)
Table not foundECO Mobility IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
ECO Mobility IPO FAQs
What is ECO Mobility IPO?
ECO Mobility is issuing 18,000,000 equity shares with a face value of ₹10 each, totaling up to ₹601.20 Cr. The shares are being offered at a price of ₹318 to ₹334 each, with a minimum order quantity of 44 shares.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When ECO Mobility IPO will open?
ECO Mobility will open on August 28, 2024 for QIB, NII, and Retail Investors.
When ECO Mobility IPO will end?
ECO Mobility will end on August 30, 2024.
What is ECO Mobility IPO Size?
ECO Mobility IPO size is ₹601.20 Cr.
What is ECO Mobility IPO Price Band?
ECO Mobility price band is ₹318 to ₹334 per share.
What is the ECO Mobility IPO Allotment Date?
ECO Mobility allotment date is September 02, 2024.
What is the ECO Mobility IPO Listing Date?
ECO Mobility listing date is September 04, 2024. The IPO is to be listed on BSE and NSE.
How to ECO Mobility IPO through Zerodha?
To apply for the IPO “ECO Mobility” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply ECO Mobility IPO through Upstox?
To apply for the IPO “ECO Mobility” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check ECO Mobility IPO Allotment Status?
For ECO Mobility IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is ECO Mobility IPO GMP?
You can check out here: ECO Mobility IPO GMP. Check all IPO GMP here.