Ecos (India) Mobility shares listed at 17% premium

4 Sep 2024 , 09:59 AM

The shares of chauffeur-driven mobility provider Ecos (India) Mobility and Hospitality listed at a 17% premium. The shares get listed at ₹390 on NSE, with 16.77% premium and at ₹391.30 on BSE at 17.16% premium from issue price of ₹334.

The initial public offer (IPO) of ECOS (India) Mobility was opened for subscription from August 28 to August 30. The company received bids for 80.86 crore shares against the 1.26 crore shares on offer with an overall subscription of 64.18 times.

The Delhi-based company has been offering chauffeured car rentals and employee transportation services to corporate clients for over 25 years. With a fleet of more than 9,000 vehicles that includes everything from economy cars to luxury models, they’ve built a strong reputation in the industry.

In the financial year 2023-24, Ecos Mobility completed an impressive 3.1 million trips, which breaks down to more than 8,400 trips every day.