ECOS (India) Mobility & Hospitality Limited, shall open its Bid/Offer in relation to its initial public offering of Equity Shares on Wednesday, August 28, 2024. The total offer size of Equity Shares (face value ₹ 2 each) comprises of Offer for Sale of up to 18,000,000 Equity Shares. The Anchor Investor Bidding date shall be on Tuesday, August 27, 2024 and the Bid Offer will be closed on Friday, August 30, 2024. The Price band of the offer is fix at ₹ 318 to ₹ 334 per Equity Share. Bids can be made for a minimum of 44 Equity Shares and in multiples of 44 Equity Shares thereafter.
- Issue Opens: August 28, 2024
- Issue Closes: August 30, 2024
- Face Value: Rs 2 each
- Price Band: Rs 318 to Rs 334 per share
- Lot Size: 44 Shares
- Listing On: BSE & NSE
- Issue Size: 18,000,000 equity shares
- Issue Type: Book Built Route
- Basis of Allotment: September 2, 2024
- Initiation of Refund: September 2, 2024
- Credit to Demat: September 3, 2024
- Listing Date: September 4, 2024
The Offer for Sale of up to 18,000,000 Equity Shares comprises of up to 9,900,000 Equity Shares by Rajesh Loomba and up to 8,100,000 Equity Shares by Aditya Loomba. The Equity Shares is proposed to be listed on the BSE and NSE. For the purposes of the Offer, NSE is the Designated Stock Exchange. Equirus Capital Private Limited and IIFL Securities Limited are the Book Running Lead Managers to the offer.
Incorporated in February 1996, ECOS (India) Mobility & Hospitality Limited is a chauffeur driven car rental service provider. The company’s primary business is to provide chauffeured car rentals and employee transportation services. 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. In Fiscal 2024, ECOS (India) Mobility has served the CCR and ETS requirements of over 1,100 organizations in India. Basically company offers self-driven cars in Delhi, Gurugram, Mumbai, and Bengaluru.
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 Indigo, HCL, Safexpress, Deloitte, Urbanclap, IndusInd Bank, Foresight Group, HDFC Life Insurance Company, Thomas Cook, Grant Thornton, and Walmart Global.
