The IPO size of Rs 601.20 crore is based on the upper end of the price band.
The IPO is an offer for sale of 1.8 million shares, where promoters Rajesh Loomba and Aditya Loomba will divest part of their stakes. As the IPO is an OFS, all the proceeds will go to the selling shareholders.
Up to 50% of the issue has been reserved for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs) and at least 35% for retail investors.
Ecos Mobility provides chauffeur-driven vehicle rentals and employee transportation services to corporate clients, including Fortune 500 companies in India, for over 25 years. The company operates a fleet of over 9,000 vehicles, ranging from economy cars to luxury coaches. This fleet includes various categories such as luxury vehicles (including brands like Audi, BMW, and Mercedes-Benz), economy vehicles, premium vehicles, and buses/vans. Also Read: Bluestone raises Rs 900 crore in pre-IPO round, will file preliminary papers this yearEcos Mobility also offers specialty vehicles, including luggage vans, limousines, vintage cars and accessible transportation for people with disabilities.
The company also serves clients across a variety of industries including information technology, business process outsourcing, global capability centers (GCC), consulting, healthcare, e-commerce, pharmaceuticals, law, and manufacturing. Notable clients include HCL Corp, HDFC Life, Thomas Cook India and WM Global Tech, among others.
In FY24, the company’s operating revenue rose 31% year-on-year to Rs 554 crore, while profit after tax (PAT) increased 43% to Rs 62.5 crore.
Equirus Capital and IIFL Values are acting as lead managers of the issue.
(Disclaimer: The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of The Economic Times)
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.