Investors Flock To ECOS Mobility: Shares Surge 10% Today, 46% Since Listing

2 min read Last Updated : Sep 05 2024 | 12:09 PM IST

Ecos Mobility shares rally: Shares of chauffeured car rentals (CCR) and employee transportation solutions (ETS) provider, Ecos (India) Mobility & Hospitality, continued their northward move for the second day, and jumped as much as 10.34 per cent to Rs 489 on the NSE during intra-day deals. Nearly 82.75 lakh equity shares of ECOS Mobility have exchanged hands on the NSE, worth around Rs 391.37 crore.

ECOS Mobility shares made their debut at a premium of 16.76 per cent on the NSE at Rs 390, yesterday, on September 4, 2024, thus the company’s stock have jumped nearly 46.40 per cent higher than the IPO issue price of Rs 334. Post listing, the company’s shares continued to attract buyers, ending their first trading session in the green at Rs 443.15 on the NSE.

Meanwhile, on the BSE, ECOS Mobility shares climbed 10.37 per cent to Rs 488.75 during intra-day deals on Thursday. The company’s stock is currently 44.33 per cent higher than the IPO issue price of Rs 334, and 24.90 per cent higher than the listing price of Rs 391.30. Nearly 4.82 lakh shares, worth Rs 22.74 crore, exchanged hands on the BSE.

At around 11:44 am today, the stock was quoted trading at Rs 480.30, up 8.38 per cent from its previous close on the NSE. Meanwhile, on the BSE, ECOS Mobility shares were seen trading at Rs 479.65, 8.32 per cent higher than its previous close of Rs 442.80.

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.

The company had launched its initial public offering with an offer for sale of 18,000,000 shares with a face value of Rs 2. The public issue witnessed favourable investor interest, being oversubscribed by a staggering 64.26 times by the final day of subscription, led by Qualified Institutional Buyers (QIBs), who subscribed 136.85 times. ECOS Mobility had garnered reviews for its IPO from several brokers, including Geojit, Swastika Investment, and Anand Rathi Research. READ MORE

First Published: Sep 05 2024 | 12:09 PM IST