ECOS Mobility Shares Surge 32% on Market Debut
By Rediff Money Desk, New Delhi Sep 04, 2024 16:26
ECOS (India) Mobility & Hospitality Ltd shares soared 32% on their market debut, closing at Rs 441.05. The IPO was oversubscribed 64 times, with the company's market valuation reaching Rs 2,646.30 crore.
New Delhi, Sep 4 (PTI) Shares of chauffeur-driven mobility provider ECOS (India) Mobility & Hospitality Ltd ended with a premium of 32 per cent against the issue price of Rs 334 on Wednesday.
The stock made its debut at Rs 391.30, a jump of 17.15 per cent from the issue price on the BSE. During the day, it zoomed 36.52 per cent to Rs 456. Shares of the firm finally ended at Rs 441.05, up 32.05 per cent.
At the NSE, shares of the firm listed at Rs 390, a premium of 16.76 per cent. The stock ended at Rs 441.05, reflecting a surge of 32.05 per cent.
The company's market valuation stood at Rs 2,646.30 crore.
In traded volume terms, 22.82 lakh shares of the firm were traded at the BSE and 327.63 lakh shares at the NSE during the day.
The initial share sale of Ecos (India) Mobility & Hospitality got subscribed 64.18 times on the closing day of bidding on Friday.
The Rs 601 crore share sale was entirely an Offer For Sale (OFS) of up to 1,80,00,000 equity shares.
The IPO had a price range of Rs 318-334 a share.
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.
The stock made its debut at Rs 391.30, a jump of 17.15 per cent from the issue price on the BSE. During the day, it zoomed 36.52 per cent to Rs 456. Shares of the firm finally ended at Rs 441.05, up 32.05 per cent.
At the NSE, shares of the firm listed at Rs 390, a premium of 16.76 per cent. The stock ended at Rs 441.05, reflecting a surge of 32.05 per cent.
The company's market valuation stood at Rs 2,646.30 crore.
In traded volume terms, 22.82 lakh shares of the firm were traded at the BSE and 327.63 lakh shares at the NSE during the day.
The initial share sale of Ecos (India) Mobility & Hospitality got subscribed 64.18 times on the closing day of bidding on Friday.
The Rs 601 crore share sale was entirely an Offer For Sale (OFS) of up to 1,80,00,000 equity shares.
The IPO had a price range of Rs 318-334 a share.
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.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.59 ( -1.15)
- 48988527
- Axita Cotton
- 22.67 ( -5.74)
- 29420018
- Vodafone Idea L
- 14.83 ( -1.85)
- 29110630
- Rajnish Wellness
- 3.84 ( -4.95)
- 28481388
- Rama Steel Tubes
- 11.59 (+ 10.17)
- 18767890
MORE NEWS
Cross-Border Business Degree: Tetr College...
Tetr College of Business launches a groundbreaking undergraduate degree program that...
Caspian Debt Merges with BlackSoil Capital:...
Caspian Impact Investments and BlackSoil Capital are merging to create BlackSoil, a...
![ATS Group Revives...](https://im.rediff.com/80-80/money/2017/apr/27realty.jpg)
ATS Group Revives 100-Acre Township in Gr Noida
ATS Group has paid Rs 130 crore to YEIDA against land dues, reviving a 100-acre...