ECOS Mobility IPO subscription started on 28 August 2024 and will close on 30 August 2024. ECOS Mobility plans to raise around INR 601.20 crores via the IPO. The price band is fixed at INR 318 – 334 per share. ECOS Mobility IPO market lot has 44 shares and the minimum application amount is INR 14,696. The retail quota is 35%, QIB is 50% and NII is 15%.
Check ECOS Mobility IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. Here you can find ECOS Mobility IPO subscription status segregated by days and investor categories.
ECOS Mobility IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Total |
| Shares Offered | 36,00,000 | 27,00,000 | 63,00,000 | 1,26,00,000 |
| 30 Aug 2024 | 136.85 | 71.23 | 19.79 | 64.26 |
| 29 Aug 2024 | 0.10 | 23.47 | 8.99 | 9.56 |
| 28 Aug 2024 | 0.04 | 6.65 | 3.85 | 3.36 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
ECOS Mobility – Business Background
ECOS (India) Mobility & Hospitality is a leading provider of chauffeured car rentals (CCR) and employee transportation services (ETS) in India. With over 25 years of experience, ECOS serves a wide range of corporate clients, including several Fortune 500 companies.
ECOS primarily offers chauffeur-driven car rentals and employee transportation services. The company operates a fleet of over 12,000 vehicles, including economy cars, luxury cars, minivans, luxury coaches, luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities. Additionally, ECOS provides self-driven car rental services in Delhi, Gurugram, Mumbai, and Bengaluru, as well as for international clients through a network of global vendors.
In Fiscal 2023, ECOS Mobility catered to the CCR and ETS needs of over 750 corporate customers, completing more than 2,100,000 trips, averaging over 5,700 trips per day.
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Investor Categories in ECOS Mobility IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of the ECOS Mobility IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
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ECOS Mobility IPO Subscription Status FAQs
When will the subscription for the ECOS Mobility IPO start?
ECOS Mobility IPO is open for subscription from 28 August to 30 August 2024.
How to subscribe to ECOS Mobility IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will ECOS Mobility IPO be listed?
ECOS Mobility IPO will be listed on 4 September 2024, at the BSE and NSE stock exchanges.
