Ecos Mobility and Hospitality announces price band for its Rs 600-crore IPO. Check details
Ecos Mobility and Hospitality has announced a price band of Rs 318-334 for its upcoming initial public offering (IPO), which will raise Rs 601.20 crore. The IPO will open for bidding on August 28 and close on August 30."
The IPO size of Rs 601.20 crore is based on the upper end of the price band.
The IPO is an entirely offer-for-sale (OFS) of 1.8 crore shares, with promoters Rajesh Loomba and Aditya Loomba offloading part of their stakes. Since the IPO is an OFS, all proceeds will go to the selling shareholders.
Up to 50% of the issue has been reserved for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs), and at least 35% for retail investors.
Ecos Mobility has been providing chauffeured car rentals and employee transportation services to corporate clients, including Fortune 500 companies in India, for over 25 years.
The company operates a fleet of more than 9,000 vehicles, ranging from economy cars to luxury coaches. This fleet includes various categories such as luxury vehicles (including brands like Audi, BMW, and Mercedes-Benz), economy vehicles, premium vehicles, and buses/vans.
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Ecos Mobility also offers specialty vehicles, including luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities.
The company also serves clients across various industries, including information technology, business process outsourcing, global capability centers
