Latest News | Ecos Mobility IPO Got Subscribed over 64 Times

New Delhi, Aug 30 (PTI) The initial share sale of chauffeur-driven mobility provider Ecos (India) Mobility & Hospitality got subscribed 64.18 times on the closing day of bidding on Friday.

The Rs 601 crore share sale received bids for 80,86,90,256 shares against 1,26,00,000 shares on offer, as per NSE data.

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The portion meant for Qualified Institutional Buyers (QIBs) received 136.85 times subscription while the portion for non-institutional investors got subscribed 71.17 times. The quota for Retail Individual Investors (RIIs) fetched 19.66 times subscription.

The Initial Public Offer (IPO) of Ecos (India) Mobility & Hospitality got fully subscribed on the first day of bidding on Wednesday.

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The initial share sale was entirely an Offer For Sale (OFS) of up to 1,80,00,000 equity shares.

The IPO has a price range of Rs 318-334 a share.

Ecos (India) Mobility & Hospitality Ltd on Tuesday said it has raised Rs 180.36 crore from anchor investors.

The Delhi-based company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate customers for more than 25 years. It operates a fleet of more than 9,000 vehicles from economy to luxury cars. It also provides speciality vehicles like luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities.

Equirus Capital and IIFL Securities are book-running lead managers to the offer.

The company's shares will be listed on BSE and NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)