ECOS Mobility IPO listing on BSE, NSE: Shares of Ecos (India) Mobility & Hospitality kicked off their journey on the bourses on a strong note amidst mixed market sentiments on Wednesday. ECOS Mobility shares listed at Rs 391.30 on the BSE, reflecting a premium of 17.15 per cent from the issue price of Rs 334.
On the NSE, shares of ECOS Mobility listed at a premium of 16.76 per cent at Rs 390.
Thus, with this strong debut, the shares of ECOS Mobility yielded a return of Rs 57.30 or over 17 per cent apiece to the investors who were allotted the company’s shares.
Ahead of their debut on the bourses, the shares of ECOS Mobility were quoted at a strong grey market premium of Rs 126 or 37.37 per cent, indicating a favourable market debut, according to several sources tracking grey market activity.
Offered at a price band of Rs 318-334 per share, with a lot size of 44 shares, the ECOS Mobility IPO received favourable interest from investors, being oversubscribed by a whopping 64.26 times, led by Qualified Institutional Buyers (QIBs), who subscribed 136.85 times, followed by Non-Institutional Investors (NIIs) at 64.37 times.
The public issue of ECOS Mobility, which comprised an entire offer for sale of 18,000,000 shares with a face value of Rs 2 apiece, ended for subscription on Friday, August 30, 2024. Following that, the allotment of ECOS Mobility IPO shares was finalised on Monday, September 2, 2024.
Ecos (India) Mobility & Hospitality (ECOS) offers a range of services, including chauffeured car rentals (CCR) and employee transportation solutions (ETS). The CCR segment caters to corporate clients, providing B2C services for their employees, clients, guests, or visitors. In contrast, the ETS segment focuses on helping businesses manage their employees’ daily commutes, providing ground transportation solutions from home to office and back.
First Published: Sep 04 2024 | 10:01 AM IST
