Ecos (India) Mobility & Hospitality IPO Overwhelmingly Subscribed 64.18 Times on Final Bidding Day

Ecos (India) Mobility & Hospitality's initial share sale saw remarkable demand, being subscribed 64.18 times on the final day of bidding. The Rs 601 crore IPO received bids for over 80.86 million shares against 12.6 million on offer, showing strong interest from institutional and retail investors alike.

The initial share sale of chauffeur-driven mobility provider Ecos (India) Mobility & Hospitality was subscribed 64.18 times by the close of bidding on Friday.

The Rs 601 crore IPO received bids for 80,86,90,256 shares against the 1,26,00,000 shares on offer, according to NSE data.

Qualified Institutional Buyers (QIBs) showed substantial interest with a 136.85 times subscription, while non-institutional investors subscribed 71.17 times. Retail Individual Investors (RIIs) also participated actively, with a 19.66 times subscription rate.

The IPO was fully subscribed on the first day of bidding on Wednesday. The share sale was an Offer For Sale (OFS) of up to 1,80,00,000 equity shares, priced between Rs 318-334 per share.

Prior to the IPO, Ecos (India) Mobility & Hospitality Ltd raised Rs 180.36 crore from anchor investors. The Delhi-based company has provided chauffeured car rentals and employee transportation services to corporate clients for over 25 years, operating a fleet of over 9,000 vehicles, including specialty vehicles.

Equirus Capital and IIFL Securities acted as the book-running lead managers for the offer. The company's shares will be listed on the BSE and NSE.

(With inputs from agencies.)