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Ecos (India) Mobility & Hospitality Ltd IPO

Ecos (India) Mobility & Hospitality Limited is primarily engaged in the business of providing chauffeured car rentals (CCR) and employee transportation services (ETS) and has been providing these services to corporate customers, including Fortune 500 companies in India, for more than 25 years. The CCR segment is a B2B2C business, where its customers are corporate companies, and the end consumer is an employee, visitor or client of these corporate companies. Through its ETS segment, The Company offers customers with solutions to manage their employee ground transportation. The Company is the largest and most profitable chauffeur driven mobility provider to corporates in India, in terms of revenue from operations and profit after tax for Fiscal 2023.

Ecos (India) Mobility & Hospitality Ltd IPO Details

Total Shares Offered

₹ 1,80,00,000

Offer to Public

1,80,00,000

Retail Max (Shares)

₹ 63,00,000

Pre Issue Promoters Holding

₹ 5,86,49,986

Exchange

BSE

Issue size

₹ 601.2 Cr

IPO Open Date

Aug 28, 2024

Close Date

Aug 30, 2024

Lot Size

Min Investment

₹ 13,992

Issue Type

Book Building

Listing Date

Sep 4, 2024

Ecos (India) Mobility & Hospitality Ltd IPO Dates

Aug 28, 2024

Opening date

Aug 30, 2024

Closing date

Sep 2, 2024

Basis of Allotment

Sep 3, 2024

Initiation of Refunds

Sep 3, 2024

Credit of Shares

Sep 4, 2024

Listing date

Details

Sector	Type
Sector	Miscellaneous
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	9000000
NII	0x	2700000
Retail	0x	6300000
Employee	0x	0
Total	0x	18000000

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

9000000

2700000

6300000

18000000

Ecos (India) Mobility & Hospitality Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	653.96	554.41	422.68
EBITDA	118.56	117.29	78.62
PAT	57.80	61.08	41.65
Total Assets	183.14	150.26	147.98
Share Capital	12.00	12.00	0.06
Total Borrowings	84.99	98.09	102.00
Operating Activities (Net Cash)	78.88	79.53	53.11
Investing Activities (Net Cash)	82.64	86.42	39.74
Financing Activities (Net Cash)	84.99	98.09	102.00
Net Cashflow	25.32	5.22	10.35

About Ecos (India) Mobility & Hospitality Ltd

Ecos (India) Mobility & Hospitality Limited was originally incorporated as ET TRAV-AIDES Private Limited a private limited company under the Companies Act, 1956 through certificate of incorporation dated February 15, 1996, issued by the RoC. Thereafter, the name of the Company was changed to Ecos (India) Mobility & Hospitality Private Limited pursuant to a Board resolution dated August 08, 2008 and a special resolution passed in the extra ordinary general meeting of the Shareholders held on August 12, 2008 and consequently a fresh certificate of incorporation dated September 23, 2008 was issued by the RoC to reflect the change in name. Thereafter, the name of the Company was changed to Ecos (India) Mobility & Hospitality Limited upon conversion to a public limited company pursuant to a Board resolution dated February 29, 2024 and a resolution passed in the extra-ordinary general meeting of the Shareholders held on February 29, 2024 and consequently a fresh certificate of incorporation dated March 22, 2024, was issued by the RoC.

The market for ETS in India is US$ 6.1 billion in Fiscal 2023. Organized players hold an estimated 15% market share of the total ETS market in India (as of CY2023). Further, the market for CCR in India is US$ 4.7 billion in Fiscal 2023. The organized segment in the CCR market is estimated to hold a share at about 25% of total market (as of CY2023). The market growth in the ETS and CCR segments is fuelled by transition from remote work to in-office work, rise in corporate air travel, expansion of office space and expansion of tier-II and tier-III cities, and enhanced efficiency by consolidating car rental and employee transportation services with a single or fewer vendors providing centralised solutions for nationwide coverage. The corporate car rental market in India has grown from a revenue of Rs.315.6 billion in CY 2021 to Rs.392.4 billion in CY 2023. The employee transportation service market in India has grown from a revenue of Rs.398.2 billion in CY 2021 to Rs.503.5 billion in CY2023.

Peer Comparison:

Wise Travel India Ltd
Shree OSFM E-Mobility Ltd

Ecos (India) Mobility & Hospitality Ltd Key Points

Strengths

India's largest and most profitable chauffeur driven mobility provider in a growing chauffeur driven mobility provider market in terms of revenue from operations and profit after tax for Fiscal 2023.

Long-standing customer relationships with business synergies across business segments.

Pan-India presence with operations in 109 cities in India.

Established brand built over years through operational excellence.

Comprehensive technology ecosystem enabling operational superiority.

Risk

The company is measured against high quality service standards and governed by the terms and condition of its contracts with the company customers. Any failure by it to comply with these standards or the terms and conditions may lead to the cancellation of existing and future bookings, which could adversely affect its reputation, business, results from operations, financial conditions and cash flows.

Its business depends on the company relationships with vendors who supply vehicles and chauffeurs to its, and any adverse changes in such relationships, or its inability to enter into new relationships, could adversely affect the company business and results of operations.

The company derives a significant part of its revenue from some customers, and the company does not have long term contracts with all of these customers. If one or more of such customers choose not to utilise its services or to terminate the company contracts or agreements, its business, cash flows, financial condition and results of operations may be adversely affected.

Strategy

Expanding its presence in Tier-II and Tier-III cities in India and increasing its penetration in cities with existing operations.

Acquisition of new customers and increasing revenue from existing customers and expanding its sales team.

Continue to focus on technology to ensure operational excellence.

Continue focus on building its brand through its brand building strategies and focus on operational excellence.

Expanding its geographical footprint globally.

How To Apply for Ecos (India) Mobility & Hospitality Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

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Go through the IPO details like lot size, price band, about the company, etc.

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Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

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Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Ecos (India) Mobility & Hospitality Ltd IPO?

Ecos (India) Mobility & Hospitality Ltd's IPO offers shares for up to 0 It begins on Aug 28, 2024 and ends on Aug 30, 2024.

What is the price of the Ecos (India) Mobility & Hospitality Ltd IPO?

The price of Ecos (India) Mobility & Hospitality Ltd IPO ranges between ₹318 to ₹334 per share.

What are the open and close dates for the Ecos (India) Mobility & Hospitality Ltd IPO?

The Ecos (India) Mobility & Hospitality Ltd IPO opens on Aug 28, 2024 and closes on Aug 30, 2024.

When will the Ecos (India) Mobility & Hospitality Ltd IPO be allotted?

The allotment for the Ecos (India) Mobility & Hospitality Ltd IPO will be finalised on Sep 2, 2024. The shares will be listed on BSE and NSE on Sep 4, 2024.

What is the minimum lot size required for Ecos (India) Mobility & Hospitality Ltd IPO?

The minimum lot size for Ecos (India) Mobility & Hospitality Ltd IPO is 44 shares, priced between ₹318 to ₹334 per share.

What is the GMP of Ecos (India) Mobility & Hospitality Ltd IPO?

The GMP (Grey Market Premium) of Ecos (India) Mobility & Hospitality Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Ecos (India) Mobility & Hospitality Ltd IPO?

To check the allotment status of Ecos (India) Mobility & Hospitality Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Ecos (India) Mobility & Hospitality Ltd IPO getting listed?

The Ecos (India) Mobility & Hospitality Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Aug 28, 2024, and closes on Aug 30, 2024. The allotment is finalised on Sep 2, 2024.

How do you apply for the Ecos (India) Mobility & Hospitality Ltd IPO?

To apply for the Ecos (India) Mobility & Hospitality Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.