ECO Mobility IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 31, 2024Let’s have a detailed review of the company and analytics of the ECO Mobility IPO release date, IPO offer price, subscription, ECO Mobility Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 2 |
| Price Band | Rs 318 to Rs 334 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 44 Shares |
| Listing Date | September 4, 2024 |
| Offer for Sale | Rs 601.20 Cr. |
| Fresh Issue | – |
| IPO Size | Rs 601.20 Cr. |
| Tick Size | 1 |
ECO Mobility IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – ECO Mobility Share Price |
ECO Mobility IPO – Summary
They are the largest and most profitable chauffeur-driven mobility provider to corporates in India, in terms of revenue from operations and profit after tax for Fiscal 2023.
They are primarily engaged in the business of providing chauffeured car rentals (“CCR”) and employee transportation services (“ETS”) and have been providing these services to corporate customers, including Fortune 500 companies in India, for more than 25 years.
The promoters of this company is RAJESH LOOMBA, ADITYA LOOMBA, NIDHI SETH, RAJESH LOOMBA FAMILY TRUST AND ADITYA LOOMBA FAMILY TRUST. The lead manager of the issue is Equirus Capital Private Limited and IIFL Securities Limited, and the Registrar of this issue is Link Intime India Private Limited.
ECO Mobility IPO Date
The opening and closing dates of ECO Mobility IPO are August 28, 2024, and August 30, 2024, respectively.
ECO Mobility IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 28th Aug | 0.04x | 6.70x | 3.93x | 3.41x |
| 2nd Day – 29th Aug | 0.10x | 23.53x | 9.14x | 9.64x |
| 3rd Day – 30th Aug | 136.85x | 71.17x | 19.66x | 64.18x |
| Shares Offered or Net Issue | 3,600,000 | 2,700,000 | 6,300,000 | 18,000,000 |
The shares subscribed by the public will be updated here.
ECO Mobility IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
ECO Mobility Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | September 2, 2024 |
| Refunds Initiation | September 3, 2024 |
| Credit of Shares to Demat Account | September 3, 2024 |
| Share Listing Date | September 4, 2024 |
ECO Mobility IPO Price Band
The face value of each share is Rs.2, but the price band of the IPO is Rs 318 to Rs 334
ECO Mobility IPO Equity Size
This Initial Public Issue of 18,000,000 Equity Shares of Rs.2 each for cash at a price of Rs 318 to Rs 334 per equity share aggregating to Rs.601.20 Cr.
ECO Mobility IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 18,000,000 Equity Shares of Rs.2/ each.
Issue Size: 18,000,000 Equity Shares of Rs.2 each, aggregating to Rs.601.20 Cr.
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ECO Mobility IPO – Live Performance
The listing date of this IPO is September 4, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – ECO Mobility Share Price |
ECO Mobility IPO Grey Market Premium
The ECO Mobility Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
ECO Mobility IPO – Company Overview
Their operations in 97 cities in India are conducted through vendors. In Fiscal 2024, they serviced the CCR and ETS requirements of more than 1,100 organisations in India. In Fiscal 2024, through their CCR and ETS segments, they have completed more than 3,100,000 trips averaging at more than 8,400 trips in a day.
They also address the global car rental requirements of their corporate customers, through their global network of vendors with their capability of providing CCR services in over 30 countries. Also, they provide cars of a self-drive basis in the cities of Delhi, Gurugram, Mumbai and Bengaluru. Also, they have provided self-drive cars outside India through vendors.
They operate a fleet of more than 12,000 economies to luxury cars, minivans and luxury coaches. They also provide speciality vehicles such as luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities.
ECO Mobility IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Total Assets |
2,966.59
|
2,297.05
|
1,123.84
|
| *Total Revenue | 5,682.05 | 4,254.29 | 1,515.54 |
| Total Expense | 4,858.88 | 3,671.38 | 1,385.65 |
| Profit After Tax | 625.31 | 435.91 | 98.71 |
Earnings per Equity Share (in Million)
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Basic & Diluted | 10.42 | 7.27 | 1.65 |
Further, their PAT for the period ended on March 31, 2024, March 31, 2023, and March 31, 2022, were Rs. 625.31 Million, Rs. 435.91 Million and Rs. 98.71 Million respectively.
ECO Mobility IPO – Promoters
The Promoter of this company is:
- RAJESH LOOMBA,
- ADITYA LOOMBA,
- NIDHI SETH,
- RAJESH LOOMBA FAMILY TRUST
- ADITYA LOOMBA FAMILY TRUST
List of Related Parties (Key Managerial Personnel)
-
Rajesh Loomba, Chairman and Managing Director
- Aditya Loomba, Joint Managing Director
- Nidhi Seth, Non-Executive Director
- Rajeev Vij, Independent Director
ECO Mobility IPO – Promoters Holding
- Pre-Issue Share Holding – 97.75%
- Post-Issue Share Holding – 67.75%
ECO Mobility IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 18,000,000 Equity Shares aggregating up to Rs.601.20 Cr. |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 60,000,000 Equity Shares |
| Equity Shares outstanding after the Issue | 60,000,000 Equity Shares |
ECO Mobility IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- To achieve the benefits of listing Equity Shares on the Stock Exchanges; and
- To carry out the Offer for Sale of up to 18,000,000 Equity Shares aggregating up to ₹[●] million by the Selling Shareholders.
ECO Mobility IPO – Business Strategy
- Expanding their presence in Tier-II and Tier-III cities in India and increasing their penetration in cities with existing operations
- Acquisition of new customers increasing revenue from existing customers and expanding their sales team
ECO Mobility IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- India’s largest and most profitable chauffeur-driven mobility provider in a growing chauffeur driven mobility provider market in terms of revenue from operations and profit after tax for Fiscal 2023
- Long-standing customer relationships with business synergies across business segments
- Pan-India presence with operations in 109 cities in India
- An established brand built over years through operational excellence
- Comprehensive technology ecosystem enabling operational superiority
- Robust financials with consistent performance
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-24 |
10.42
|
42.75
|
29.57 |
| 31-Mar-23 |
7.27
|
46.70
|
– |
| Mar-22 |
1.65
|
14.80
|
– |
ECO Mobility IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| ECO Mobility Limited | 2 | [●] |
10.42
|
42.75
|
5,682.05
|
| Listed Peers | |||||
| Wise Travel India Ltd | 10 |
20.82
|
12.79
|
15.62
|
4,140.87
|
| Shree OSFM E-Mobility Ltd | 10 | 23.73 |
7.02
|
15.24
|
1,190.59
|
ECO Mobility IPO Lead Managers
| Lead Managers |
|
Equirus Capital Private Limited IIFL Securities Limited |
ECO Mobility IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C 101, 1st Floor, 247 Park Lal Bahadur Shastri Marg, Vikhroli (West)Maharashtra, India 400083 Tel:+918108114949 Email:ecorentacar.ipo@linkintime.co.in Website:www.linkintime.co.in Investor grievance email:ecorentacar.ipo@linkintime.co.in Contact person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
ECO Mobility IPO – Other Details
- Statutory Auditor – S.S.Kothari Mehta & Co.LLP
- Legal Counsel to the Company – Trilegal
- Bankers to the Company – Kotak Mahindra Bank Limited
ECO Mobility IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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ECO Mobility Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
ECO Mobility IPO Review FAQs
Check out various FAQs related to ECO Mobility IPO:
What is the Issue Size of ECO Mobility IPO?
The Company is making an initial public offer of 18,000,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of ECO Mobility IPO?
The price band for this particular IPO, i.e. ECO Mobility IPO ranges between Rs 318 to Rs 334. As far as the face value of the share is concerned, it is Rs.2 per share.
What is the ECO Mobility IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on August 28, 2024, while the closing date is set at August 30, 2024.
What is the ECO Mobility IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on September 2, 2024, refund initiation is on September 3, 2024, credit of shares is on September 3, 2024, and the share listing date is on September 4, 2024.
What is the ECO Mobility IPO Listing Date?
Shares of this company shall be listed in the exchanges on September 4, 2024. The date, when the listing would be done, is stagnant on September 4, 2024.
Who is the Registrar of ECO Mobility IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of ECO Mobility IPO?
Here are the promoters of this IPO – RAJESH LOOMBA, ADITYA LOOMBA, NIDHI SETH, RAJESH LOOMBA FAMILY TRUST AND ADITYA LOOMBA FAMILY TRUST. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of ECO Mobility IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is ECO Mobility IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of ECO Mobility Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2024 in Million is 625.31, 2023 is 435.91, and 2022 is 98.71.
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