August 26, 2024
New Delhi, India
ECOS (India) Mobility IPO
The ECOS (India) Mobility IPO, a Mainline Initial Public Offering (IPO), is set to open for subscription on August 28, 2024, and will remain open until August 30, 2024. The IPO aims to raise ₹601.20 crore through a 100% offer for sale (OFS) of 1.8 crore shares, each with a face value of ₹2. Investors can participate in this offering by bidding for a minimum lot size of 44 shares, which translates to an investment of ₹14,696 based on the price band.
Key Details of the IPO:
- Offer Size: ₹601.20 crore
- Price Band: ₹318 to ₹334 per share
- Face Value: ₹2 per share
- Minimum Lot Size: 44 shares (₹14,696)
- Subscription Period: August 28 to August 30, 2024
- Listing Date: Expected on September 4, 2024
- Exchanges: BSE and NSE
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Promoter Shareholding: The promoter group’s collective shareholding in ECOS India Mobility will decrease to 67.75% post-IPO from the current 97.75%. The key promoters, Rajesh Loomba and Aditya Loomba, currently hold 48.76% and 38.99% of the company, respectively. Following the IPO, if fully subscribed, Rajesh Loomba’s holding will drop to 32.26%, while Aditya Loomba’s stake will reduce to 25.49%.
Financial Performance: ECOS India Mobility has shown strong financial growth in recent years. In FY24, the company’s revenue from operations increased by 31% to ₹554 crore, up from ₹422 crore in FY23. Additionally, the net profit surged by 43% to ₹62.5 crore in FY24, compared to ₹43.5 crore in the previous fiscal year.
Purpose of the IPO: The ECOS India Mobility IPO is an OFS, meaning that the proceeds from the sale will go to the selling shareholders rather than the company itself. The primary purpose of this IPO is to provide liquidity to the shareholders and enhance the company’s visibility and brand image through listing on the stock exchanges.
Disclaimer:
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