Ecos Mobility & Hospitality Announces IPO with Rs 318-334 Price Band

Ecos (India) Mobility & Hospitality Ltd sets price band for its Rs 601 crore IPO, opening for public subscription on August 28-30. The entire offering is an offer for sale by promoters. The company specializes in chauffeured car rentals and employee transportation services with a fleet of 9,000 vehicles.

Ecos (India) Mobility & Hospitality Ltd, a leading chauffeur-driven mobility provider, announced a price band of Rs 318-334 per share for its upcoming Rs 601 crore initial public offering (IPO). The public subscription will commence on August 28 and close on August 30, with anchor investor bids opening on August 27.

The IPO is entirely an offer for sale by promoters Rajesh Loomba and Aditya Loomba, totaling 1.8 crore equity shares valued at Rs 601 crore at the upper band. Consequently, the Delhi-based firm will not receive any proceeds from the IPO, with all funds allocated to the selling promoters.

With 25 years of experience, the company operates a fleet exceeding 9,000 vehicles, offering chauffeured car rentals and employee transportation services to corporate clients. Notably, the global corporate mobility market is expanding, with India poised for growth with a projected CAGR of 10.7% from 2023 to 2030, according to a F&S Report.

(With inputs from agencies.)