ECOS (India) Mobility and Hospitality IPO announces price band at ₹318-334 apiece; check issue size, key dates, more.

ECOS (India) Mobility and Hospitality IPO price band: The ECOS (India) Mobility and Hospitality Limited IPO price band has been fixed in the range of ₹318 to ₹334 per equity share of the face value of ₹2. The ECOS (India) Mobility and Hospitality IPO date of subscription is scheduled for Wednesday, August 28, and will close on Friday, August 30. The allocation to anchor investors for the ECOS (India) Mobility and Hospitality IPO is scheduled to take place on Tuesday, August 27.

The floor price is 159 times the face value of the equity shares and the cap price is 167 times the face value of the equity shares, the company said in an advertisement on Financial Express. The price to earnings ratio based on diluted EPS for financial year ended 2024 for the company at the upper end of the price band is as high as 32.05 times and at the lower end of the price band is 30.52 times as compared to the average industry peer group P/E ratio of 22.28 times.

ECOS (India) Mobility and Hospitality IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

The basis of allotment of shares for the ECOS (India) Mobility and Hospitality IPO is scheduled to be finalised on Monday, September 2. Refunds will be initiated by the company on Tuesday, September 3, while the shares will be credited to the demat account of allottees on the same day after the refund. ECOS (India) Mobility and Hospitality share price is likely to be listed on BSE and NSE on Wednesday, September 4.

Over the course of more than 25 years, the company has catered to corporate clients, including Fortune 500 organisations in India, by offering chauffeured car rentals (CCR) and employee transportation services (ETS). They supplied CCR and ETS, among other things, to 60 BSE 500 firms and 42 Fortune 500 organisations in India in Fiscal 2024. The end user in the B2B2C CCR segment is a corporate company's employee, client, guest, or visitor. The company's clients are corporate companies.

Rajesh Loomba, Aditya Loomba, Nidhi Seth, Rajesh Loomba Family Trust, and Aditya Loomba Family Trust are the company's promoters.

As per the red herring prospectus, the company's listed peers are Wise Travel India Ltd (with a P/E of 20.82), and Shree OSFM EMobility Ltd (with a P/E of 23.73).

As to the filings, the revenue of the firm increased by 31% from ₹422 crore in FY23 to ₹554 crore in FY24. After taxes, their net profit for FY24 was ₹62.531 crore, a 43% increase from ₹43.591 crore in FY23.

ECOS (India) Mobility and Hospitality IPO details

The public issue is purely offer for sale of 18,000,000 equity shares. Through this sale, Rajesh and Aditya Loomba, who are part of the promoter group, will be selling up to 9,900,000 and 8,100,000 equity shares, respectively.

The RHP states that the firm will not directly receive any revenues from this offer, as it is an offer for sale. The selling shareholders will get all profits in proportion to the shares they each sold during the offer.

The ECO Mobility IPO's book running lead managers are Equirus Capital Private Limited and Iifl Securities Ltd, while the issue's registrar is Link Intime India Private Ltd.

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