ECOS Mobility IPO
ECOS Mobility IPO — date, price band, lot size & details 2024
ECOS Mobility listed on 4 Sep 2024 at ₹390, 16.8% above the ₹334 issue price.
ECOS (India) Mobility & Hospitality is the largest chauffeur-driven mobility provider to corporates in India, offering car rentals and employee transport solutions. Its total income was Rs 568.21 crore in FY2024.
Stock price
ECOS Mobility is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 28 Aug 2024
- Close 30 Aug 2024
- Allotment 02 Sep 2024
- Refund/credit 03 Sep 2024
- Listing 04 Sep 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 28 to 30 Aug, 2024 |
|---|---|
| Price Band | ₹318 – ₹334 |
| Face Value | ₹2 |
| Lot Size | 44 Shares |
| Issue Size | ₹601.2 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,696 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 44 shares at the ₹334 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 44 | ₹14,696 |
| Retail (max) | 13 | 572 | ₹1,91,048 |
| S-HNI (min) | 14 | 616 | ₹2,05,744 |
| S-HNI (max) | 68 | 2,992 | ₹9,99,328 |
| B-HNI (min) | 69 | 3,036 | ₹10,14,024 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 151.55 crore in FY2022 to Rs 568.21 crore in FY2024.
- 02Profit after tax rose from Rs 9.87 crore in FY2022 to Rs 62.53 crore in FY2024.
- 03The source puts return on net worth at 42.75% and the PAT margin at 11.00%.
- 04Borrowing was low at Rs 21.72 crore on 31 March 2024.
- 05It is the largest chauffeur-driven mobility provider to corporates in India, with over 25 years in the business.
Risks · 5
- 01The whole Rs 601.2 crore issue was offer for sale by the promoters, so no money went to the company.
- 02The P/E was 32.05 at the upper band of Rs 334, based on EPS of Rs 10.42.
- 03It depends on corporate travel budgets, which fell sharply in FY2022 when income was Rs 151.55 crore.
- 04Much of the fleet is sourced from vendors, so quality and supply depend on partners. Net worth was Rs 177.41 crore.
- 05Promoters and the promoter group held 97.75% before the issue and 67.75% after it.
Three years of numbers
All figures in ₹ crore, as reported in the ECOS Mobility offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 296.66 | 229.71 | 112.38 |
| Total Income | 568.21 | 425.43 | 151.55 |
| Profit After Tax | 62.53 | 43.59 | 9.87 |
| NET Worth | 177.41 | 115.13 | 71.56 |
| Reserves and Surplus | 165.41 | 115.07 | 71.50 |
| Total Borrowing | 21.72 | 32.95 | 3.34 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the ECOS Mobility RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
ECOS Mobility IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹10.42 | ₹10.42 |
| P/E Ratio (x) | 32.05 | 32.05 |
| Market Cap at Offer Price (₹ Cr) | ₹2,004.32 | ₹2,004.32 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹334 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the ECOS Mobility IPO will be updated shortly.
ECOS Mobility IPO Anchor Investors
19 anchor investors across 14 fund houses committed ₹180.39 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
Its chauffeured car rental business is B2B2C: its customers are companies, and the end users are their employees, visitors or clients. Its employee transportation services segment helps companies manage staff ground transport.
Its promoters are Rajesh Loomba, Aditya Loomba, Nidhi Seth and the Rajesh Loomba and Aditya Loomba family trusts.
The IPO was Rs 601.2 crore and was entirely an offer for sale by Rajesh Loomba and Aditya Loomba, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
ECOS Mobility IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Equirus Capital Pvt.Ltd.
36 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Metro Brands (-12.6%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of ECOS Mobility?
The current Grey Market Premium is ₹120, or 36% over the issue price.
What is the ECOS Mobility IPO price band?
₹318 to ₹334, on a face value of ₹2.
When is the allotment?
The basis of allotment is 2 September 2024, with listing on 4 September 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
