Ecos Mobility IPO Subscription: Subscribed 9.56 times till the second day, NII and retail investors bet heavily – ecos india mobility and hospitality ipo subscription status day 2 sees times subscription niis play key role

Ecos Mobility IPO: The IPO of Ecos India Mobility and Hospitality, a company providing car service with driver, is getting a great response. By the second day of subscription today, the issue was subscribed 9.56 times. It has received bids for a total of 12.03 crore shares while there are 1.26 crore shares on offer. The company has already raised Rs 180.36 crore from anchor investors. Investors will have the opportunity to invest in it till August 30. The size of this IPO is Rs 601 crore and the price band for it has been fixed at Rs 318 to Rs 334 per share.

Ecos Mobility IPO: How much was the issue subscribed

Qualified Institutional Buyers (QIB) – 0.10 times

Retail Individual Investors (RIIs) – 8.99 times

Total – 9.56 times

(29 Aug 2024 | 05:30:00 PM)

About Ecos Mobility IPO

Echoes India Mobility and Hospitality said that this IPO is an Offer-for-Sale (OFS). This means that the company will not sell any shares in this IPO, but all the shares will be put up for sale by its promoters and shareholders. Since the company will sell no new shares, the company will not get any money from the IPO.

A total of 1.8 crore shares will be put up for sale through the IPO of Echoes India Mobility. These shares will be sold by the company’s two promoters – Rajesh Lumba and Aditya Lumba. The last date for bidding for the IPO of this Delhi-headquartered company will be August 30.

GMP of Ecos Mobility IPO

Talking about GMP, today on 28th August, this issue is trading at a premium of Rs 160 in the grey market. According to this, the company’s shares are likely to be listed at a price of Rs 494. If this happens, then investors will get a huge profit of about 48 percent.

Ecos Mobility Business

Ecos India Mobility has been providing chauffeured car rental (CCR) and employee transportation services (ETS) to corporate clients for over 25 years. It operates a fleet of over 9,000 vehicles ranging from economy to luxury cars. It also provides luggage vans, limousines, vintage cars and special vehicles for accessible transportation for people with disabilities.

According to a report, the global corporate mobility market (both CCR and ETS) can grow at an estimated rate of 9.6 percent from 2023 to 2030. Apart from this, India is expected to grow at a rate of 10.7 percent from 2023 to 2030. This estimate was expressed in a report by F&S.