Ecos India Mobility and Hospitality IPO Sets Price Band at ₹318-334

Exciting news for investors! ECOS (India) Mobility and Hospitality Limited is all set to launch its IPO with a price band ranging from ₹318 to ₹334 per equity share. The subscription date is from August 28 to August 30, with the allocation to anchor investors happening on August 27.

According to Financial Express, the floor price of the equity shares is 159 times the face value, while the cap price is 167 times the face value. The company’s price to earnings ratio is competitive, with a high of 32.05 times and a low of 30.52 times, compared to the industry average of 22.28 times.

The IPO has allocated 50% of shares to Qualified Institutional Buyers, 15% to Non-Institutional Investors, and 35% to retail investors.

Allotment of shares will be finalized on September 2, with refunds initiated on September 3. The shares will be credited to investors’ demat accounts on the same day. ECOS (India) Mobility and Hospitality share price is expected to be listed on BSE and NSE on September 4.

With over 25 years of experience, ECOS has provided chauffeured car rentals and employee transportation services to top corporate clients in India. They have served 60 BSE 500 firms and 42 Fortune 500 organizations in the country. Their B2B2C CCR segment targets corporate employees, clients, guests, and visitors.

The promoters of the company are Rajesh Loomba, Aditya Loomba, Nidhi Seth, Rajesh Loomba Family Trust, and Aditya Loomba Family Trust.

According to the red herring prospectus, the company’s listed peers have competitive Price-to-Earnings ratios.

Revenue for the firm saw a significant increase from ₹422 crore in FY23 to ₹554 crore in FY24. Net profits also rose by 43% from ₹43.591 crore in FY23 to ₹62.531 crore in FY24.

ECOS (India) Mobility and Hospitality IPO details

The public issue consists of 18,000,000 equity shares on offer for sale. Promoters Rajesh and Aditya Loomba are selling a portion of their equity stake through this IPO.

The company will not directly receive any funds from the IPO, as it is an offer for sale. Profits from the sale will go to the respective selling shareholders.

The book running lead managers for the IPO are Equirus Capital Private Limited and Iifl Securities Ltd, with Link Intime India Private Ltd serving as the registrar.

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