Ecos Mobility and Hospitality files DRHP with SEBI to launch IPO

Mobility services provider Ecos Mobility and Hospitality, said on Friday, that it has filed Draft Red Herring Prospectus (DRHP) with markets regulator SEBI to raise funds via initial public offering (IPO) of up to 18,000,000 equity shares of face value of ₹2 each.

The company's promoters include Rajesh Loomba, Aditya Loomba, the Rajesh Loomba Family Trust, and the Aditya Loomba Family Trust.

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The offering consists of an offer for sale (OFS) of a maximum of 18,000,000 equity shares, comprising of up to 9,900,000 equity shares by Rajesh Loomba and up to 8,100,000 equity shares by Aditya Loomba.

Equirus Capital Private Limited and IIFL Securities Limited are the Book Running Lead Managers to the issue.

For over 25 years, the company has been delivering chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate clients, including Fortune 500 companies across India. With a fleet exceeding 9,000 vehicles ranging from economy to luxury cars, mini-vans, and luxury coaches, the company offers a diverse selection. This includes luxury vehicles featuring brands like Audi, BMW, and Mercedes-Benz, as well as economy and premium options, alongside buses/vans. Additionally, specialty vehicles such as luggage vans, limousines, vintage cars, and those tailored for accessible transportation needs are also provided.

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The company extends its services to clients across various sectors, such as information technology, business process outsourcing, global capability centers (GCCs), consulting, healthcare, e-commerce, pharmaceuticals, legal, and manufacturing. Some of its notable clients include HCL Corporation Private Limited, HDFC Life Insurance Limited, Thomas Cook India, 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, FNF India Private Limited (Fidelity), EXL Service.com (India) Private Limited, and VA Tech Wabag Limited.