Ecos Mobility IPO opens: Should you subscribe to this issue?
IPO) of Ecos Mobility and Hospitality has opened for subscription today and will be available for public to bid till August 30.
The IPO is entirely an offer for sale (OFS) of 1.8 crore shares. Since the IPO is an OFS, all the proceeds will go to the selling shareholders.
Ecos Mobility IPO price band
The company has fixed a price band of Rs 318-334 per share, where investors can bid for 44 shares in one lot.
Ecos Mobility IPO GMP
Ahead of the issue opening, the company's shares are trading with a GMP of Rs 150 in the unlisted market, which indicates a premium of 45% to the issue price.
Ecos Mobility IPO review
Analysts advised investors to subscribe to the issue as the company is the leader in chauffeur driven car services for corporate customers and is a niche player in B2B segment for corporate employees mobility.
«At the upper price band company is valuing at P/E of 32.1x with a market cap of Rs 20,04 crore post issue of equity shares and return on net worth of 42.7%. On the valuation front, we believe that the company is fairly priced. Thus, we recommend a 'Subscribe' rating to the IPO,» said Anand Rathi.
Other details
Ecos Mobility has been providing chauffeured car rentals and employee transportation services to corporate customers, including Fortune 500 companies in India, for more than 25 years.
The company operates a fleet of more than 9,000 economy to luxury cars, mini vans and luxury coaches which consists of various categories such as luxury vehicles (including vehicles from automobile brands such
