ECOS (India) Mobility & Hospitality Limited is the leading and most profitable provider of chauffeur-driven mobility solutions for corporate in India, as measured by revenue from operations and profit after tax for the fiscal year 2023, according to the F&S Report.
Their primary services include Chauffeured Car Rentals (CCR) and Employee Transportation Services (ETS), which we have been offering to corporate clients, including Fortune 500 companies, for over 25 years.
Issuance Period :
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.
IPO Size :
Total amount to be raised Rs 601.20 crores.
GMP ( Grey /market Premium )
Current GMP is 145 rupees per share as on 26 august 2024, In Percentage is 43.00%.
Current GMP is 151 rupees per share as on 27 august 2024, In Percentage is 45.00%.
Current GMP is 194 rupees per share as on 28 august 2024, In Percentage is 58.00%.
Current GMP is 160 rupees per share as on 29 august 2024, In Percentage is 47.90%. Current GMP is ₹152 rupees per share as on 31 august 2024, In Percentage is 45.51%.
GMP is ₹126 rupees per share as on 04 SEPT 2024, In Percentage is 37.50%.
Lot Size :
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.
Table of Contents
IPO Details :
| Category | Detail |
|---|---|
| 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 |
Promoters Names:
- Rajesh Loomba
- Aditya Loomba
- Nidhi Seth
- Rajesh Loomba Family Trust
- Aditya Loomba Family Trust.
ECO Mobility IPO Promoter Holding
| Detail | Percentage |
|---|---|
| Share Holding Pre Issue | 97.75% |
| Share Holding Post Issue | 67.75% |
Objectives of the Issue :
Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
Carry out the Offer for Sale of up to 18,000,000 Equity Shares by the Selling Shareholders
ECO Mobility Financial Information :
| 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 |
About Company :
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.
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.
Here’s a quick look at ECOS Mobility IPO’s strengths, weakness, opportunities and risks.
Strengths and opportunities
- The company operates over 9,000 vehicles across 109 cities, catering to diverse needs with economy cars, premium vehicles, and luxury coaches.
- ECOS (India) Mobility & Hospitality Limited is a leading chauffeur-driven mobility provider in India, with ₹4,226.76 million in revenue and ₹435.91 million in profit after tax for Fiscal 2023.
- ECOS serves 42 Fortune 500 and 60 BSE 500 companies, maintaining strong customer relationships that contribute to significant lifetime value. By fostering strong connections with these leading corporations, ECOS ensures a consistent and valuable stream of business.
Risks and threats
- An increase in vehicle prices and fleet costs could strain ECOS’s finances, hindering their ability to expand and upgrade their vehicle fleet efficiently.
- Dependence on key customers, particularly in major cities, exposes ECOS to the risks of reduced demand or termination of contracts, affecting financial stability.
ECO Mobility IPO Prospectus
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