About ECOS Mobility & Hospitality:
The company is primarily engaged in providing chauffeured car rentals (CCR) and employee transportation services (ETS), serving corporate customers, including Fortune 500 companies in India, for over 25 years. The CCR segment operates as a B2B2C business, where the corporate clients are the primary customers, and the end users are their employees, visitors, or clients. Through the ETS segment, the company offers solutions to manage employee ground transportation. It is the largest and most profitable chauffeur-driven mobility provider to corporates in India, based on revenue from operations and profit after tax for Fiscal 2023.
About the Industry in which ECOS Mobility & Hospitality operates:
In Fiscal 2023, the market for Employee Transportation Services (ETS) in India was valued at US$ 6.1 billion, with organized players holding an estimated 15% market share (as of CY2023). The Chauffeured Car Rentals (CCR) market in India reached US$ 4.7 billion in the same period, with the organized segment holding about 25% of the total market share (as of CY2023). Growth in the ETS and CCR segments is driven by the transition from remote to in-office work, increased corporate air travel, expansion of office space, growth in tier-II and tier-III cities, and the consolidation of services for greater efficiency. The corporate car rental market in India grew from ₹315.6 billion in CY2021 to ₹392.4 billion in CY2023, while the employee transportation service market grew from ₹398.2 billion in CY2021 to ₹503.5 billion in CY2023.
| Important Information and Timelines of the IPO of ECOS Mobility & Hospitality: | |
|---|---|
| Open Date | 28 August 2024 |
| Close Date | 30 August 2024 |
| Total Issue Size – Number of Shares | 18000000 |
| Minimum Bid Price | 318 |
| Maximum Bid Price | 334 |
| Lot Size | 44 |
| Basis of Allotment | 2 September 2024 |
| Initiation of Refunds and Credit of Shares to Demat | 3 September 2024 |
| Listing Date | 4 September 2024 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of ECOS Mobility & Hospitality:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 44 | 14696 |
| Retail – Maximum | 13 | 572 | 191048 |
| sHNI – Minimum | 14 | 616 | 205744 |
| sHNI – Maximum | 68 | 2992 | 999328 |
| bHNI – Minimum | 69 | 3036 | 1014024 |
Objective of the IPO of ECOS Mobility & Hospitality:
-
Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
-
Carry out the Offer for Sale of up to 18,000,000 Equity Shares by the Selling
Shareholders.
Financials of ECOS Mobility & Hospitality:
| Particulars | March 31, 2024 | March 31, 2023 | March 31, 2022 |
|---|---|---|---|
| (A) Equity Share Capital | 120.00 | 0.60 | 0.60 |
| (B) Net Worth | 1,774.12 | 1,151.25 | 715.64 |
| (C) Revenue from Operations | 5,544.11 | 4,226.76 | 1,473.44 |
| (D) Profit/ (Loss) After Tax | 625.31 | 435.91 | 98.71 |
| (E) Basic Earnings Per Equity Share | 10.42 | 7.27 | 1.65 |
| (F) Diluted Earnings Per Equity Share | 10.42 | 7.27 | 1.65 |
| (G) Net Asset Value Per Share | 29.57 | 19.19 | 11.93 |
| (H) Total Borrowings | 217.18 | 329.52 | 33.37 |
For more details on the IPO, refer to the DRHP here
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for ECOS Mobility & Hospitality. You will receive a UPI mandate after 10:00 AM on 28 August 2024.
###1. How to apply for the IPO of ECOS Mobility & Hospitality on Dhan?
You can apply for the IPO of ECOS Mobility & Hospitality from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of ECOS Mobility & Hospitality be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 3 September 2024. However, you will be able to see the shares of ECOS Mobility & Hospitality on Dhan before the market starts on the listing date which is 4 September 2024.