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Ecos (India) Mobility & Hospitality IPO

  • Status: Closed
  • RHP:
  • ₹ 13,992 / 44 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    04 Sep 2024

  • Listing Price

    ₹391.30

  • Listing Change

    17.16%

  • Last Traded Price

    ₹391.00

IPO Details

  • Open Date

    28 Aug 2024

  • Close Date

    30 Aug 2024

  • IPO Price Range

    ₹ 318 to ₹ 334

  • IPO Size

    ₹ 601.20 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    04 Sep 2024

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IPO Timeline

Ecos (India) Mobility & Hospitality IPO Subscription Status

Last Updated: 30 August 2024 6:14 PM by 5Paisa

Last Updated: 30th August 2024, 6:15 PM by 5paisa

ECOS (India) Mobility & Hospitality IPO is set to open on 28 August 2024 and will close on 30 August 2024. The company is a leading provider of chauffeur-driven car rental services in India.

The IPO includes an offer for sale of 1,80,00,000 shares aggregating up to ₹601.20 Cr. The price range is ₹318 to ₹334 per share and the lot size is 44 shares. 

The allotment is scheduled to be finalized on 02 September 2024. It will go public on BSE and NSE, with a tentative listing date of 04 September 2024.

Equirus Capital Private Ltd and IIFL Securities Ltd are the book-running lead managers, while Link Intime India Pvt Ltd is the registrar. 

Ecos IPO Size

Types Size (₹Cr)
Total IPO Size 601.20
Offer For Sale 601.20
Fresh Issue -

 

Ecos IPO Lot Size

Application Lots Shares Amount (₹)
Retail (Min) 1 44 14,696
Retail (Max) 13 572 1,91,048
S-HNI (Min) 14 616 2,05,744
S-HNI (Max) 68 2,992 9,99,328
B-HNI (Min) 69 3,036 10,14,024

 

Ecos IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 136.85 36,00,000 49,26,74,468 16,455.33
NII (HNI) 71.17 27,00,000 19,21,49,980 6,417.81
Retail 19.66 63,00,000 12,38,65,808 4,137.12
Total 64.18 1,26,00,000 80,86,90,256 27,010.25

 

ECO Mobility IPO Anchor Allocation

Anchor Bid Date 27 August, 2024
Shares Offered 5,400,000
Anchor Portion Size (In Cr.) 180.36
Lock in Period for 50% shares (30 days) 2 October, 2024
Lock in Period for rest of shares (90 days) 1 December, 2024

The company will not receive any proceeds from the Offer. Instead, all proceeds will go to the Selling Shareholders, allocated according to the number of Offered Shares each Selling Shareholder sells as part of the Offer.

Incorporated in February 1996, ECOS (India) Mobility & Hospitality Limited is a leading provider of chauffeur-driven car rental services in India. The company's main offerings include chauffeured car rentals (CCR) and employee transportation services (ETS), catering primarily to corporate clients, including some Fortune 500 companies in India.

As of March 31, 2024, ECOS (India) Mobility boasts an extensive operational footprint, serving clients across 109 cities and spread throughout 21 states and four union territories. This wide reach highlights its significant presence and deep penetration in various regions of the country.

During Fiscal 2024, the company successfully met the CCR and ETS needs of over 1,100 organizations. ECOS (India) Mobility also offers self-driven cars in major cities like Delhi, Gurugram, Mumbai, and Bengaluru.

In the same fiscal year, the company completed over 3.1 million trips, which breaks down to an average of more than 8,400 trips per day across its CCR and ETS business segments.

The fleet of ECOS (India) Mobility includes over 12,000 vehicles, ranging from economy cars to luxury vehicles, mini vans, and specialized transportation options like luggage vans, limousines, vintage cars, and accessible vehicles for individuals with disabilities.

The company’s diverse clientele includes notable firms such as InterGlobe Aviation Limited (Indigo), HCL Corporation Private Limited, and Deloitte Consulting India Private Limited, among others.

On the staffing front, by the end of March 2024, ECOS (India) Mobility had 671 employees in its operations team, dedicated to ensuring real-time quality control and addressing any service issues promptly.

Peers

1. Wise Travel India Ltd
2. Shree OSFM E-Mobility Ltd
 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 568.21 425.43 151.55
EBITDA 89.96 69.73 18.05
PAT 62.53 43.59 9.87
Particulars (in Rs. Crores) FY24 FY23 FY22
Total Assets 296.66 229.71 112.38
Share Capital 12.00 0.06 0.06
Total Borrowings 21.72 32.95 3.34
Particulars (in Rs. Crores) FY24 FY23 FY22
Net Cash Generated From / (used in) operating activities 67.14 16.33 21.68
Net Cash Generated From / (used in) investing activities -54.25 -46.74 -7.58
Net Cash Generated From / (used in) financing activities -10.76 17.88 -13.01
Net Increase (Decrease) In Cash And Cash Equivalents 2.12 -12.54 1.10


Strengths

1. Operating in 109 cities across 21 states and four union territories, ECOS has a significant market presence. 
2. The company services over 1,100 organizations, including Fortune 500 companies.
3. With over 3.1 million trips completed in a fiscal year the company demonstrates robust operational capabilities.
4. Offering vehicles like limousines, vintage cars, and accessible transportation options for people with disabilities helps the company cater to niche markets.
 

Risks

1. A significant portion of ECOS's revenue comes from corporate clients. 
2. Managing a large fleet across a diverse geographic expanse introduces logistical challenges, including maintenance costs.
3. Changes in transportation regulations, environmental laws, or labor laws could impose new costs.
4. The market for transportation services is highly competitive.
5. Any lag in adopting new technologies like electric vehicles or automated booking systems could put the company at a competitive disadvantage.
 

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FAQs

ECO Mobility IPO opens from 28th August to 30th August 2024.

The size of ECOS (India) Mobility & Hospitality IPO is ₹601.20 Cr.

The price of ECOS (India) Mobility & Hospitality IPO is fixed at ₹318 to ₹334 per share. 

To apply for ECOS (India) Mobility & Hospitality IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the ECOS (India) Mobility & Hospitality IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of ECOS (India) Mobility & Hospitality IPO is 44 shares and the investment required is ₹14,696.

The share allotment date of ECOS (India) Mobility & Hospitality IPO is 02nd September 2024
 

The ECOS (India) Mobility & Hospitality IPO will be listed on 04th September 2024.

Equirus Capital Private Ltd and Iifl Securities Ltd are the book-running lead managers for ECOS (India) Mobility & Hospitality IPO.
 

The company will not receive any proceeds from the Offer. Instead, all proceeds will go to the Selling Shareholders, allocated according to the number of Offered Shares each Selling Shareholder sells as part of the Offer.