ECO Mobility IPO Subscription Status

ECO Mobility IPO - Day 3 Subscription at 20.18 Times

ECO Mobility's initial public offering (IPO) has garnered significant attention from investors, with subscription rates soaring over the three-day period. Starting modestly on day one, the IPO witnessed a surge in interest, culminating in an impressive 20.18 times oversubscription by the close of day three. This remarkable response underscores the strong market appetite for ECO Mobility's shares and sets the stage for a potentially dynamic listing.

The IPO opened on 28th August 2024, dramatically increasing investor participation across all categories. In particular, the Non-Institutional Investors (NII) segment has shown exceptional demand, reflecting strong confidence among high-net-worth individuals and corporations in the company's prospects. The Retail Individual Investors (RII) and Qualified Institutional Buyers (QIB) categories have also demonstrated robust interest, albeit at a more measured pace than the NII segment.

This enthusiastic response to ECO Mobility's IPO comes amid a generally positive sentiment in the Indian stock market, particularly towards companies in the mobility and hospitality sectors. The company's focus on chauffeured car rentals (CCR) and employee transportation services (ETS) appears to have resonated well with investors looking for exposure to India's growing urban mobility market.

Subscription Status of ECO Mobility IPO for Days 1, 2, and 3:

On day 1, ECO Mobility IPO was subscribed 3.41 times. By the end of day 2, the subscription status had risen to 9.64 times; on day 3, it reached 20.18 times.

Here are the subscription details for ECO Mobility IPO as of Day 3 (August 30, 2024 at 1:11:08 PM):

Key Highlights:

• Overall Subscription: 20.18 times
• Retail Investors: 15.01 times
• Non-Institutional Investors (NII): 49.05 times
• Qualified Institutional Buyers (QIB): 7.58 times

The overall subscription trend shows a dramatic increase day-on-day, pointing to building momentum and extremely positive sentiment towards the issue.

ECO Mobility IPO - Day 2 Subscription at 9.64 Times

Key Highlights:

• Overall Subscription: 9.64 times
• Retail Investors: 9.14 times (doubled from Day 1)
• Non-Institutional Investors (NII): 23.53 times (dramatic increase)
• Qualified Institutional Buyers (QIB): 0.10 times (modest improvement)

The overall subscription trend indicated rapidly building momentum, with all investor categories showing increased participation. The company's strong presence in chauffeured car rental and employee transportation services likely contributed to the growing investor interest.

ECO Mobility IPO - Day 1 Subscription at 3.41 Times

Key Highlights:

• Overall Subscription: 3.41 times
• Retail Investors: 3.93 times
• Non-Institutional Investors (NII): 6.70 times
• Qualified Institutional Buyers (QIB): 0.04 times

The strong first-day response laid a solid foundation for the remaining days of the IPO, with expectations of increased participation in the following days. Market observers noted that the robust opening day response reflected investor confidence in the company's business model and growth prospects in the urban mobility sector.

About ECO Mobility IPO:

ECO Mobility, officially known as ECOS (India) Mobility & Hospitality Limited, is a leading provider of chauffeur-driven car rental services in India. Incorporated in February 1996, the company's primary business is to provide chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate clients, including Fortune 500 companies in India.

As of 31st March 31, 2024, the company was in India, operating in 109 cities using its vehicles and vendors. It was spread across 21 states and four union territories, showcasing its extensive reach and penetration into diverse regions nationwide.

In Fiscal 2024, ECO Mobility served the CCR and ETS requirements of over 1,100 organisations in India. It completed over 3,100,000 trips, averaging over 8,400 daily trips through its CCR and ETS segments.

The company has a fleet of over 12,000 cars, including economy, luxury, mini vans, and specialty vehicles such as luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities.

Highlights of the ECO Mobility IPO:

• IPO Date: 28th August 2024 to 30th August 2024
• Listing Date: 4th September 2024 (Tentative)
• Face Value: ₹2 per share
• IPO Price Band: ₹318 to ₹334 per share
• Lot Size: 44 Shares
• Issue Size: 18,000,000 shares (aggregating up to ₹601.20 Cr)
• Offer Type: Book Built Issue IPO (100% Offer for Sale)
• Listing At: BSE, NSE
• Minimum investment for retail investors: ₹14,696
• Minimum investment for small Non-Institutional Investors (sNII): 14 lots (616 shares), amounting to ₹205,744
• Minimum investment for big Non-Institutional Investors (bNII): 69 lots (3,036 shares), amounting to ₹1,014,024
• Book Running Lead Managers: Equirus Capital Private Limited and IIFL Securities Ltd
• Registrar: Link Intime India Private Ltd