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ECO Mobility IPO is a book built issue of Rs 601.20 crores. The issue is entirely an offer for sale of 1.8 crore shares.
ECO Mobility IPO opens for subscription on August 28, 2024 and closes on August 30, 2024. The allotment for the ECO Mobility IPO is expected to be finalized on Monday, September 2, 2024. ECO Mobility IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, September 4, 2024.
ECO Mobility IPO price band is set at ₹318 to ₹334 per share. The minimum lot size for an application is 44 Shares. The minimum amount of investment required by retail investors is ₹14,696. The minimum lot size investment for sNII is 14 lots (616 shares), amounting to ₹205,744, and for bNII, it is 69 lots (3,036 shares), amounting to ₹1,014,024.
Equirus Capital Private Limited and Iifl Securities Ltd are the book running lead managers of the ECO Mobility IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to ECO Mobility IPO RHP for detailed information.
| IPO Date | August 28, 2024 to August 30, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹318 to ₹334 per share |
| Lot Size | 44 Shares |
| Total Issue Size | 18,000,000 shares (aggregating up to ₹601.20 Cr) |
| Offer for Sale | 18,000,000 shares of ₹2 (aggregating up to ₹601.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 60,000,000 |
| Share holding post issue | 60,000,000 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
ECO Mobility IPO opens on August 28, 2024, and closes on August 30, 2024.
| IPO Open Date | Wednesday, August 28, 2024 |
| IPO Close Date | Friday, August 30, 2024 |
| Basis of Allotment | Monday, September 2, 2024 |
| Initiation of Refunds | Tuesday, September 3, 2024 |
| Credit of Shares to Demat | Tuesday, September 3, 2024 |
| Listing Date | Wednesday, September 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 30, 2024 |
Investors can bid for a minimum of 44 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 44 | ₹14,696 |
| Retail (Max) | 13 | 572 | ₹191,048 |
| S-HNI (Min) | 14 | 616 | ₹205,744 |
| S-HNI (Max) | 68 | 2,992 | ₹999,328 |
| B-HNI (Min) | 69 | 3,036 | ₹1,014,024 |
| Lot Size Calculator | |||
The Promoters of the company, are Rajesh Loomba, Aditya Loomba, Nidhi Seth, Rajesh Loomba Family Trust and Aditya Loomba Family Trust.
| Share Holding Pre Issue | 97.75% |
| Share Holding Post Issue | 67.75% |
Incorporated in February 1996, ECOS (India) Mobility & Hospitality Limited is a chauffeur driven car rental service provider in India. The company's primary business is to provide chauffeured car rentals (“CCR”) and employee transportation services (“ETS”).
The company has been offering these services to corporate clients, including Fortune 500 companies in India.
As of March 31, 2024, the company had a presence throughout India, operating in 109 cities using its own vehicles and vendors. It was spread across 21 states and four union territories, showcasing its extensive reach and penetration into diverse regions across the country.
In Fiscal 2024, ECOS (India) Mobility has served the CCR and ETS requirements of over 1,100 organizations in India.
The company offers self-driven cars in Delhi, Gurugram, Mumbai, and Bengaluru.
In Fiscal 2024, ECOS (India) Mobility completed over 3,100,000 trips, averaging more than 8,400 trips per day through its CCR and ETS segments.
The company has a fleet of over 12,000 cars, including economy, luxury, and mini vans, as well as specialty vehicles such as luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities.
The clientele of the company include InterGlobe Aviation Limited (Indigo), HCL Corporation Private Limited, Safexpress Private Limited, Deloitte Consulting India Private Limited, Urbanclap Technologies Private Limited (Urban Company), IndusInd Bank Limited, Foresight Group Services Limited FZCO, HDFC Life Insurance Company Limited, Thomas Cook, India, Grant Thornton Bharat LLP, WM Global Technology Services India Private Limited (Walmart Global Tech), VRB Consumer Products Private Limited, Pinkerton Corporate Risk Management Private Limited, MedGenome Labs Limited, Dreamfolks Services Limited, Mercer Consulting(I) Private Limited, FNF India Private Limited (Fidelity), exl Service.com (India) Private Limited, Gujarat Guardian Limited and VA Tech Wabag Limited.
On March 31, 2024, the company had 671 employees in its crucial operations team, responsible for real-time quality checks and issue resolution.
ECOS (India) Mobility & Hospitality Limited's revenue increased by 34% and profit after tax (PAT) rose by 43% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 296.66 | 229.71 | 112.38 | |||||||||||||||||||||||||||
| Revenue | 568.21 | 425.43 | 151.55 | |||||||||||||||||||||||||||
| Profit After Tax | 62.53 | 43.59 | 9.87 | |||||||||||||||||||||||||||
| Net Worth | 177.41 | 115.13 | 71.56 | |||||||||||||||||||||||||||
| Reserves and Surplus | 165.41 | 115.07 | 71.5 | |||||||||||||||||||||||||||
| Total Borrowing | 21.72 | 32.95 | 3.34 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
The market capitalization of ECO Mobility IPO is Rs 2004 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 42.75% |
| ROCE | 42.88% |
| Debt/Equity | 0.12 |
| RoNW | 42.75% |
| P/BV | 11.3 |
| PAT Margin (%) | 11 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.42 | 10.42 |
| P/E (x) | 32.05 | 32.05 |
The company will not directly receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.
[Dilip Davda] The company is the leader in chauffeur driven car services for corporate customers and is having a niche place in B2B segment for corporate employees/customers/guests’ mobility. After suffering a bit during the Pandemic, it gained momentum and posted good growth in its performances for FY23 and FY24. Based on FY24 earnings, the issue relatively appears fully priced. Though this is a pure secondary offer, post listing, higher visibility and unlocking the value, it will get more preference as a listed company for its business. Investors may park funds for the medium to long term. Read detail review...
ECOS (India) Mobility & Hospitality Limited
45, First Floor, Corner Market
Malviya Nagar,
New Delhi-110017
Phone: +91 11 41326436
Email: legal@ecorentacar.com
Website: https://www.ecosmobility.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ecorentacar.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
ECO Mobility IPO is a main-board IPO of 18,000,000 equity shares of the face value of ₹2 aggregating up to ₹601.20 Crores. The issue is priced at ₹318 to ₹334 per share. The minimum order quantity is 44 Shares.
The IPO opens on August 28, 2024, and closes on August 30, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in ECO Mobility IPO using UPI as a payment gateway. Zerodha customers can apply in ECO Mobility IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in ECO Mobility IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The ECO Mobility IPO opens on August 28, 2024 and closes on August 30, 2024.
ECO Mobility IPO lot size is 44 Shares, and the minimum amount required is ₹14,696.
You can apply in ECO Mobility IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for ECO Mobility IPO will be done on Monday, September 2, 2024, and the allotted shares will be credited to your demat account by Tuesday, September 3, 2024. Check the ECO Mobility IPO allotment status.
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