ECOS Mobility IPO opens tomorrow: GMP, issue details, 10 key things to know

ECOS (India) Mobility and Hospitality IPO opens for subscription on tomorrow (Wednesday, August 28). According to the red herring prospectus, the company has been offering employee transportation services (ETS) and chauffeured car rentals (CCR) to corporate clients, including Fortune 500 companies in India, for more than 25 years.

The company carried out over 3,100,000 journeys in Fiscal 2024, average over 8,400 travels per day, across its CCR and ETS divisions.

In Delhi, Gurugram, Mumbai, and Bengaluru, the firm also offers automobiles for self-drive usage. More than 12,000 vehicles, including luxury coaches, minivans, and economy automobiles, are operated by the company. Specialty vehicles including limos, cargo vans, classic automobiles, and vehicles that may accommodate wheelchair accessibility are also offered by them.

The company serves clients in a variety of fields, such as manufacturing, e-commerce, healthcare, consulting, information technology, business process outsourcing, and legal and pharmaceutical fields. Some of the clients include InterGlobe Aviation Ltd (Indigo), HCL Corporation Private Ltd, Safexpress Private Ltd, Deloitte Consulting India Private Ltd, Urbanclap Technologies Private Ltd (Urban Company), IndusInd Bank Ltd, Foresight Group Services Ltd FZCO, HDFC Life Insurance Company Ltd, Thomas Cook, India, Grant Thornton Bharat LLP, and others.

The company's operating revenue in fiscal 2024, fiscal 2023, and fiscal 2022 was ₹554.41 crore, ₹422.68 crore, and ₹147.34 crore, in that order. During the same time, the company's profit after tax was ₹62.53 crore, ₹43.59 crore, and ₹9.87 crore, in that order.

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

Here are the 10 key things to know about ECOS Mobility IPO

ECOS (India) Mobility and Hospitality IPO date: ECOS Mobility IPO opens for subscription on Wednesday, August 28, and closes on Friday, August 30.

ECOS (India) Mobility and Hospitality IPO price band: ECOS Mobility IPO price band has been fixed in the range of ₹318 to ₹334 per equity share of face value of ₹2.

ECOS (India) Mobility and Hospitality IPO lot size: ECOS Mobility IPO lot size is 44 equity shares and in multiples of 44 equity shares thereafter.

Anchor investors: The allocation to anchor investors for ECOS Mobility IPO is scheduled to take place today (Tuesday, August 27).

ECOS (India) Mobility and Hospitality IPO details: The public issue comprises only an offer for sale of 18,000,000 equity shares. Rajesh and Aditya Loomba, members of the promoter group, will sell up to 9,900,000 and 8,100,000 equity shares, respectively, through this offering.

ECOS Mobility IPO peers: The red herring prospectus states that the company's comparable companies include Wise Travel India Ltd, which has a P/E ratio of 20.82, and Shree OSFM EMobility Ltd, which has a P/E ratio of 23.73.

ECOS Mobility IPO listing date and allotment details: The finalisation of the allotment of shares for the ECOS Mobility IPO is set for Monday, September 2. The company will initiate refunds on Tuesday, September 3, and the shares will be credited to the demat account of allottees on the same day following the refund. ECOS (India) Mobility and Hospitality share price is likely to be listed on BSE and NSE on Wednesday, September 4.

Lead Manager and Registrar of ECOS Mobility IPO: Equirus Capital Private Ltd and IIFL Securities Ltd are the book running lead managers for the ECO Mobility IPO, while Link Intime India Private Ltd is the issue's registrar.

ECOS (India) Mobility and Hospitality IPO reservation: The ECOS Mobility IPO has allocated up to 50% of the shares in the public issue for qualified institutional buyers (QIB), 15% for non-institutional Institutional Investors (NII), and a minimum of 35% of the offer is set aside for retail investors.

ECOS (India) Mobility and Hospitality IPO GMP today: ECOS Mobility IPO GMP today or grey market premium is +151. This indicates ECOS Mobility share price were trading at a premium of ₹151 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of ECOS Mobility share price was indicated at ₹485 apiece, which is 45.21% higher than the IPO price of ₹334.

According to grey market activities over the past 6 sessions, today's IPO GMP is trending upwards and is anticipated to have a strong listing. Investorgain.com analysts report that the GMP ranges from ₹0 to ₹151, with the highest value recorded.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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