ECOS Mobility IPO opens today; Check subscription here

28 Aug 2024 , 12:41 PM

ECOS (India) Mobility & Hospitality has launched its initial public offering (IPO) today, August 27, 2024. The IPO is an offer for sale of 18 million shares, priced between ₹318 and ₹334 per share, with a minimum bid of 44 shares. Click here to subscribe the IPO.

At the time of writing at 11:42 am on Wednesday, the first day of bidding, the IPO had received a 0.76 times subscription. The retail investor quota was subscribed 1.07 times. The non-institutional investors (NII) category was subscribed 1.04 times. 

The company’s IPO does not involve any fresh capital inflow to ECOS Mobility; instead, all proceeds from the sale will go to the selling shareholders.

Link Intime India Private is serving as the registrar for the IPO, while Equirus Capital and IIFL Capital Services are the book-running lead managers.

The subscription period for the IPO will close on August 30, 2024. Allotment of shares is expected to be finalized on September 2, 2024, with shares credited to demat accounts by September 3, 2024. ECOS Mobility shares will list on the BSE and NSE on September 4, 2024.

Established in 1996, ECOS (India) Mobility & Hospitality offers chauffeur-driven car rentals and employee transportation services to corporate clients across India.