Ecos Mobility IPO Oversubscribed 64 Times
Aug 30, 2024 18:29
Ecos Mobility's IPO received bids 64.18 times the shares offered, with strong subscriptions from QIBs, non-institutional investors, and RIIs. The IPO was fully subscribed on the first day.
New Delhi, Aug 30 (PTI) The initial share sale of chauffeur-driven mobility provider Ecos (India) Mobility & Hospitality got subscribed 64.18 times on the closing day of bidding on Friday.
The Rs 601 crore share sale received bids for 80,86,90,256 shares against 1,26,00,000 shares on offer, as per NSE data.
The portion meant for Qualified Institutional Buyers (QIBs) received 136.85 times subscription while the portion for non-institutional investors got subscribed 71.17 times. The quota for Retail Individual Investors (RIIs) fetched 19.66 times subscription.
The Initial Public Offer (IPO) of Ecos (India) Mobility & Hospitality got fully subscribed on the first day of bidding on Wednesday.
The initial share sale was entirely an Offer For Sale (OFS) of up to 1,80,00,000 equity shares.
The IPO has a price range of Rs 318-334 a share.
Ecos (India) Mobility & Hospitality Ltd on Tuesday said it has raised Rs 180.36 crore from anchor investors.
The Delhi-based company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate customers for more than 25 years. It operates a fleet of more than 9,000 vehicles from economy to luxury cars. It also provides speciality vehicles like luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities.
Equirus Capital and IIFL Securities are book-running lead managers to the offer.
The company's shares will be listed on BSE and NSE.
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