ECOS (India) Mobility & Hospitality launched its IPO on August 27, 2024, offering 18 million shares for sale.
The price range for the IPO is set between ₹318 and ₹334 per share, with a minimum bid requirement of 44 shares.
By 1:10 pm on the second day, the IPO had been subscribed 7.04 times, with retail investors subscribing 7.02 times and non-institutional investors (NII) 16.40 times.
The IPO is an offer for sale, with no fresh capital being raised for ECOS Mobility; proceeds will go to selling shareholders. Link Intime India Private is the IPO registrar, while Equirus Capital and IIFL Capital Services are the lead managers. The IPO subscription period ends on August 30, 2024.
Share allotment is expected to be finalized by September 2, 2024, with shares credited to demat accounts by September 3, 2024. ECOS Mobility shares are scheduled to list on the BSE and NSE on September 4, 2024.
Founded in 1996, ECOS (India) Mobility & Hospitality provides chauffeur-driven car rentals and employee transportation services to corporate clients across India.
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