IPO

Ecos (India) Mobility & Hospitality Limited IPO

Mainboard

Road Transport

Listed On: Sep 4, 2024 at ₹ 390.0(NSE)

₹ 14696 /44 Shares

Check Allotment

28 Aug, 2024

Open Date

30 Aug, 2024

Close Date

02 Sep, 2024

Allotment Date

04 Sep, 2024

Listing Date
Price Summary

Last Closing

224.00 (-32.93%)

52 Week High

358.40

52 Week Low

165.00

Last Update

16-Dec-2025 3:30 PM
Ecos (India) Mobility & Hospitality IPO Issue Details
  • Issue Price ₹318-334 per equity share
  • Face Value ₹2 Per Equity Share
  • Total Issue Size 1,80,00,000 shares(aggregating up to ₹601.2 crore)
  • Offer For Sale 1,80,00,000 shares(aggregating up to ₹601.2 crore)
  • Listing at BSE, NSE
  • List Price 390.0(NSE)
  • Listing Date 2024-09-04
  • Lead Manager Equirus Capital Private Limited
    Iifl Securities Ltd
  • Registrar Link Intime India Private Ltd
Market Lot Size

Investors can bid for a minimum of 44 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 44 ₹14,696
Retail(max) 13 572 ₹1,91,048
Ecos (India) Mobility & Hospitality IPO Reservation

Ecos (India) Mobility & Hospitality IPO offers total 1,80,00,000 shares. Out of which 36,00,000 (20%) allocated to QIB, 27,00,000 (15%) allocated to NII,63,00,000 (35%) allocated to RII, NA (NA%) allocated to employees and 54,00,000 (30%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 54,00,000 (30%)
QIB Shares Offered 36,00,000 (20%)
NII (HNI) Shares Offered 27,00,000 (15%)
bNII > ₹10L 18,00,000 (10%)
sNII < ₹10L 9,00,000 (5%)
Retail Shares Offered 63,00,000 (35%)
Total Shares Offered 1,80,00,000 (100%)
Ecos (India) Mobility & Hospitality IPO Documents
DRHP
RHP
ANCHOR
Ecos (India) Mobility & Hospitality IPO Details


Ecos (India) Mobility & Hospitality IPO is a book-built issue of ₹601.2 crores, The total issue size is ₹601.2 crores. The IPO of Ecos (India) Mobility & Hospitality is priced at ₹318-334 per equity share, which has a face value of ₹2 Per Equity Share each, IPO bidding starts from Aug 28, 2024 and ends on Aug 30, 2024. The allotment for Ecos (India) Mobility & Hospitality IPO will be finalized on Sep 2, 2024. Ecos (India) Mobility & Hospitality IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 4, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 44 shares, extendable to 14,696. The book-running lead manager for the IPO is/are Equirus Capital Private Limited, Iifl Securities Ltd.

The total issue ₹601.2 crore and having Offer for Sale (OFS) of 1,80,00,000 shares to mop up ₹601.2 crore.

The Ecos (India) Mobility & Hospitality IPO sets its price band at 318-334 for each share. A single application for Ecos (India) Mobility & Hospitality Limited IPO must contain at least 44 shares. Sentiment investors need to invest a minimum of 44 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,696

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Ecos (India) Mobility & Hospitality IPO Subscription Analysis And Details
Retail
19.59x
QIB
136.85x
NII
71.14x
bNII
74.66x
sNII
64.14x
Total
64.14x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 3,600,000 2,700,000
1,800,000    900,000 		6,300,000 12,600,000
Day 1 28-08-24 05:00 PM
0.04 x 6.65
6.27 x   7.40 x 		3.85 x 3.36 x
Day 2 29-08-24 05:00 PM
0.10 x 23.43
22.72 x   24.84 x 		8.96 x 9.53 x
Day 3 30-08-24 05:00 PM
136.85 x 71.14
74.66 x   64.14 x 		19.59 x 64.14 x
Total No of Applications
24,96,399
Subscription on the basis of Applications
Retail:16.46x BHNI:14.41x SHNI:61.38x
Ecos (India) Mobility & Hospitality Valuations
EPS Pre IPO ₹10.42/-
EPS Post IPO ₹10.42/-
P/E Pre IPO 32.05
P/E Post IPO 32.05
ROE 42.75%
ROCE 42.88%
Debt/Equity 0.12
RoNW 42.75%
PAT Margin 11.00
Price to Book Value 11.30
Ecos (India) Mobility & Hospitality Company Financials
In Crs.
In Cr.
31-Mar-24 31-Mar-23 31-Mar-22
Assets 296.66 229.71 112.38
Revenue 568.21 425.43 151.55
Profit After Tax 62.53 43.59 9.87
Net Worth 177.41 115.13 71.56
Reserves & Surplus 165.41 115.07 71.5
Total Borrowing 21.72 32.95 3.34
About Ecos (India) Mobility & Hospitality Company

ECOS (India) Mobility & Hospitality Limited is a car rental service that offers chauffeur-driven cars. The company incorporated in February 1996 is primarily into chauffeured car rentals (CCR) and employee transportation services (ETS).It has been serving corporate clients like Fortune 500 companies in India.

As of March 31, 2024, the company had a pan-India presence, operating in 109 cities through its owned vehicles and vendors. It is spread across 21 states and four union territories, thus evidencing its deep penetration into all regions of the country.In Fiscal 2024, ECOS (India) Mobility has catered to the CCR and ETS needs of more than 1,100 organizations in India.The company provides self-driven cars in Delhi, Gurugram, Mumbai, and Bengaluru.During Fiscal 2024, ECOS (India) Mobility had conducted over 3,100,000 trips. It has generated more than 8,400 trips per day through its CCR and ETS segments.

The company has a fleet of over 12,000 cars, which includes economy, luxury, and mini vans as well as specialty vehicles such as luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities.

The customers of the firm are InterGlobe Aviation Limited (Indigo), HCL Corporation Private Limited, Safexpress Private Limited, Deloitte Consulting India Private Limited, Urbanclap Technologies Private Limited (Urban Company), IndusInd Bank Limited, Foresight Group Services Limited FZCO, HDFC Life Insurance Company Limited, Thomas Cook, India, Grant Thornton Bharat LLP, WM Global Technology Services India Private Limited (Walmart Global Tech), VRB Consumer Products Private Limited, Pinkerton Corporate Risk Management Private Limited, MedGenome Labs Limited, Dreamfolks Services Limited, Mercer Consulting(I) Private Limited, FNF India Private Limited (Fidelity), exl Service.com (India) Private Limited, Gujarat Guardian Limited and VA Tech Wabag Limited.

On March 31, 2024, the company had 671 employees in its crucial operations team which is responsible for real-time quality checks and issue resolution.

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Ecos (India) Mobility & Hospitality - Promoter(s)

Rajesh Loomba

Aditya Loomba

Nidhi Seth

Rajesh Loomba Family Trust

Aditya Loomba Family Trust

Pre Issue Share Holding : 97.75%

Post Issue Share Holding : 67.75%

Ecos (India) Mobility & Hospitality IPO - Issue Objectives
1

The company will not directly receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

Ecos (India) Mobility & Hospitality IPO - Anchor Investors

Ecos India Mobility & Hospitality mobilises over Rs 180 crore from anchor investors.

Total 14 institutional investors participated in the anchor book including Whiteoak Capital, ICICI Prudential Mutual Fund, Nomura Trust, Aditya Birla Sun Life Trustee and Nippon Life India.

Troo Capital, Acacia Banyan Partners, Invesco India, Motilal Oswal Mutual Fund, Franklin India, Optimix Wholesale Global Emerging Markets Share Trust, Tata Mutual Fund, Bandhan Mutual Fund, and Edelweiss Trusteeship also invested in the company via anchor book.

Ecos (India) Mobility & Hospitality IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
ECOS (India) Mobility & Hospitality Limited 10.42 10.42 29.57 N/A 42.75 N/A Restated
Wise Travel India Limited 12.79 12.79 89.52 20.82 15.62 N/A Consolidated
Shree Osfm E-mobility Limited 7.02 7.02 58.64 23.73 15.24 N/A Standalone

Notes:

  1. Shree OSFM E-Mobility Ltd does not have a subsidiary.
  2. For Wise Travel India Limited and Shree OSFM E-Mobility Limited, financial information is taken from the financials published on the NSE website for Fiscal 2024.
  3. Return on net worth (RoNW) is computed as profit for the year attributable to common shareholders of the parent divided by net worth (excluding non-controlling interest), as at March 31, 2024.
  4. NAV per equity share has been computed as the net worth attributable to common shareholders (excluding non-controlling interest) divided by the total number of shares outstanding as of March 31, 2024.
  5. P/E Ratio has been computed based on the closing market price of the equity shares as on August 16, 2024 on www.nseindia.com, divided by the Diluted EPS as on March 31, 2024.
Strength
ECOS (India) Mobility & Hospitality Limited is a leading chauffeur-driven mobility provider in India, with ₹4,226.76 million in revenue and ₹435.91 million in profit after tax for Fiscal 2023.
The company operates over 9,000 vehicles across 109 cities, catering to diverse needs with economy cars, premium vehicles, and luxury coaches.
ECOS serves 42 Fortune 500 and 60 BSE 500 companies, maintaining strong customer relationships that contribute to significant lifetime value. By fostering strong connections with these leading corporations, ECOS ensures a consistent and valuable stream of business.
Weakness
ECOS Mobility's reliance on technology means disruptions or failures in their outsourced technology systems could negatively impact operations and customer satisfaction.
Dependence on key customers, particularly in major cities, exposes ECOS to the risks of reduced demand or termination of contracts, affecting financial stability.
An increase in vehicle prices and fleet costs could strain ECOS's finances, hindering their ability to expand and upgrade their vehicle fleet efficiently.
Contact Details

Ecos (India) Mobility & Hospitality

45, First Floor, Corner Market Malviya Nagar, New Delhi-110017

+91 11 41326436

legal@ecorentacar.com

https://www.ecosmobility.com/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

ecorentacar.ipo@linkintime.co.in

https://linkintime.co.in/initial_offer/public-issues.html