The share in ECOS Mobility have been listed on the NSE (National Stock Exchange) and the BSE (Bombay Stock Exchange) today.
On both exchanges, this stock was listed at a premium price as compared to the issue price. The IPO itself received a great response from the investors.
The size of this IPO is ₹ 601.20 crores. Through this issue, the company has issued a total of 1.8 crore shares.
This IPO was open for subscription from 28 August to 30 August 2024. The allotment of share was finalized on 3 September.
The issue price of ECOS Mobility IPO is fixed at ₹ 334 per share. This stock was listed on the NSE at a price of ₹ 390 per share.
Whereas, this stock was listed on BSE at a price of ₹ 391.30 per share.
In this way, those investors who got the allotment of this IPO got the benefit of about 17% premium on the day of listing.
There were also indications of a strong listing of this IPO from the grey market. It was an IPO that was also met with a positive reaction from the investors.
The ECOS Mobility IPO was subscribed 64 times. The highest bid for this ECO Mobility IPO was made by non-institutional investors.
Since this IPO is completely an offer-for-sale, the funds raised from it will go directly to the existing shareholders.
The company handles car rental and employee transportation services. This company works for corporate customers, which includes the names of Fortune 500 companies.
The company owns a fleet of 9,000 cars which range from budget to luxury. It includes vehicles from luxury brands like Audi, BMW, and Mercedes-Benz.
The company offers specialty luggage vans, limousines, and vintage cars.
The company’s client list includes companies from IT, business process outsourcing, global capability center, consultancy, healthcare, e-commerce, pharma, legal and manufacturing sectors.
In the financial year 2024, the company’s income grew 31% year-on-year to ₹ 554 crore. During this period, the profit grew 43% year-on-year to ₹ 62.5 crore.
Quick Fact
ECOS Mobility
| Company name | ECOS Mobility |
|---|---|
| IPO Size | ₹ 601 crores |
| Shares Issued | 1.8 crore |
| IPO Issue Price | ₹ 334 |
| Listing NSE Price | ₹ 390 |
| Listing BSE Price | ₹ 391 |
| Listing Premium | 17% |
| IPO Subscription | 64 times |
| Highest Bidder | Non-institutional investors |
| Time of IPO | 28 Aug to 30 Aug 2024 |
| Allotment Date | 3 Sep |
| Revenue Growth | 31% |
| Profit Growth | 43% |
| Revenue FY 2024 | ₹ 554 crores |
| Profit FY 2024 | ₹ 62.5 crores |
Disclaimer: The website and its content are for informational purposes only and should not be considered investment advice.
