Bookbuilding IPO | ₹601 Cr | Listed at BSE, NSE | Wed, Aug 28, 2024 - Fri, Aug 30, 2024
ECOS Mobility IPO is a book build issue of ₹601.20 crores. The issue is entirely an offer for sale of 1.80 crore shares of ₹601.20 crore.
ECOS Mobility IPO bidding started from Aug 28, 2024 and ended on Aug 30, 2024. The allotment for ECOS Mobility IPO was finalized on Sep 2, 2024. The shares got listed on BSE, NSE on Sep 4, 2024.
ECOS Mobility IPO price band is set at ₹334 per share. The lot size for an application is 44. The minimum amount of investment required by an retail is ₹14,696 (44 shares) (based on upper price). The lot size investment for sNII is 14 lots (616 shares), amounting to ₹2,05,744, and for bNII, it is 69 lots (3,036 shares), amounting to ₹10,14,024.
Equirus Capital Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to ECOS Mobility IPO RHP for detailed Information.
IPO Open
Wed, Aug 28, 2024
IPO Close
Fri, Aug 30, 2024
Issue Price
₹334 per share
Market Cap (Pre-IPO)
₹2,004.00 Cr
| IPO Date | 28 to 30 Aug, 2024 |
| Listed on | Wed, Sep 4, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹318 to ₹334 |
| Issue Price | ₹334 per share |
| Lot Size | 44 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,80,00,000 shares (agg. up to ₹601 Cr) |
| Offer for Sale | 1,80,00,000 shares of ₹2 (agg. up to ₹601 Cr) |
| Share Holding Pre Issue | 6,00,00,000 shares |
| Share Holding Post Issue | 6,00,00,000 shares |
| BSE Script Code / NSE Symbol | 544239 / ECOSMOBLTY |
| ISIN | INE06HJ01020 |
ECOS Mobility IPO offers total 1,80,00,000 shares. Out of which 90,00,000 (50.00%) allocated to QIB, 36,00,000 (20.00%) allocated to QIB (Ex- Anchor), 27,00,000 (15.00%) allocated to NII 63,00,000 (35.00%) allocated to RII and 54,00,000 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 90,00,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 54,00,000 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 36,00,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 27,00,000 (15.00%) | NA |
| − bNII > ₹10L | 18,00,000 (10.00%) | 2,922 |
| − sNII < ₹10L | 9,00,000 (5.00%) | 1,461 |
| Retail Shares Offered | 63,00,000 (35.00%) | 1,43,181 |
| Total Shares Offered | 1,80,00,000 (100.00%) |
Investors can bid for a minimum of 44 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 44 | ₹14,696 |
| Retail (Max) | 13 | 572 | ₹1,91,048 |
| S-HNI (Min) | 14 | 616 | ₹2,05,744 |
| S-HNI (Max) | 68 | 2,992 | ₹9,99,328 |
| B-HNI (Min) | 69 | 3,036 | ₹10,14,024 |
ECOS Mobility IPO raises ₹180.36 crore from anchor investors. ECOS Mobility IPO Anchor bid date is August 27, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Aug 27, 2024 |
| Shares Offered | 54,00,000 |
| Anchor Portion (₹ Cr.) | 180.36 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Oct 1, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Nov 30, 2024 |
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.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 296.66 | 229.71 | 112.38 |
| Total Income | 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 | 71.50 |
| Total Borrowing | 21.72 | 32.95 | 3.34 |
| Amount in ₹ Crore | |||
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 42.75% |
| ROCE | 42.88% |
| Debt/Equity | 0.12 |
| RoNW | 42.75% |
| PAT Margin | 11.00% |
| Price to Book Value | 11.30 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.42 | 10.42 |
| P/E (x) | 32.05 | 32.05 |
| Promoter Holding | 97.75% | 67.75% |
| Market Cap | ₹2,004.00 Cr. |
The ECO Mobility IPO is subscribed 64.18 times on August 30, 2024 6:19:07 PM (Day 3). The public issue subscribed 19.66 times in the retail category, 136.85 times in the QIB category, and 71.17 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 136.85 | 36,00,000 | 49,26,74,468 |
| NII | 71.17 | 27,00,000 | 19,21,49,980 |
| bNII (bids above ₹10L) | 74.66 | 18,00,000 | 13,43,82,380 |
| sNII (bids below ₹10L) | 64.19 | 9,00,000 | 5,77,67,600 |
| Retail | 19.66 | 63,00,000 | 12,38,65,808 |
| Total | 64.18 | 1,26,00,000 | 80,86,90,256 |
Total Application : 24,96,399
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs | 21.28 |
| 2 | Brokerage, selling commission, upload fees, processing fees and bidding charges for the Members of the Syndicate, Registered Brokers, SCSBs, RTAs and CDPs | 2.48 |
| 3 | Fees payable to the Registrar to the Offer | 3.58 |
| 4 | Fees payable to legal counsel, statutory auditor, independent chartered accountant, and other intermediaries | 3.58 |
| 5 | Listing fees, SEBI filing fees, book building software fees and other regulatory expenses including expenses towards Stock Exchanges | 4.94 |
| 6 | Printing and distribution of Offer stationery | 0.97 |
| 7 | Advertising and marketing expenses for the Offer | 1.96 |
| 8 | Miscellaneous | 5.74 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹334.00 | ₹334.00 |
| Open | ₹391.30 | ₹390.00 |
| Low | ₹380.10 | ₹380.00 |
| High | ₹456.00 | ₹456.00 |
| Last Trade | ₹442.80 | ₹443.15 |
Lead Manager Reports
ECOS Mobility IPO is a main-board IPO of 1,80,00,000 equity shares of the face value of ₹2 aggregating up to ₹601 Crores. The issue is priced at ₹334 per share. The minimum order quantity is 44.
The IPO opens on Wed, Aug 28, 2024, and closes on Fri, Aug 30, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in ECOS Mobility IPO using UPI as a payment gateway. Zerodha customers can apply in ECOS Mobility IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in ECOS Mobility IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The ECOS Mobility IPO opens on Wed, Aug 28, 2024 and closes on Fri, Aug 30, 2024.
ECOS Mobility IPO lot size is 44, and the minimum amount required for application is ₹14,696.
You can apply in ECOS Mobility IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for ECOS Mobility IPO will be done on Monday, September 2, 2024, and the allotted shares will be credited to your demat account by Tue, Sep 3, 2024. Check the ECOS Mobility IPO allotment status.
The ECOS Mobility IPO listing date is on Wed, Sep 4, 2024.
