Ecos (India) Mobility & Hospitality Ltd IPO
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Ecos (India) Mobility & Hospitality Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 180 L | ₹ 180 L | ₹ 63 L | ₹ 586.5 L | BSE | ₹ 601.2 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 28 Aug, 24 | 30 Aug, 24 | 44 | ₹ 13,992 | Book Building | 04 Sep, 24 |
Ecos (India) Mobility & Hospitality Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Travel Agencies |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 54.74x | 9000000 | 492674468 |
| NII | 71.23x | 2700000 | 192314320 |
| Retail | 19.79x | 6300000 | 124695604 |
| Employee | 0x | 0 | 0 |
| Total | 44.98x | 18000000 | 809684392 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Ecos (India) Mobility & Hospitality Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 422.68 | 147.34 | 103.81 |
| EBITDA | 78.62 | 25.94 | 22.40 |
| PAT | 41.65 | 8.84 | -2.79 |
| Total Assets | 147.98 | 65.01 | 62.66 |
| Share Capital | 0.06 | 0.06 | 0.06 |
| Total Borrowings | 102.00 | 40.18 | 50.48 |
| Operating Activities (Net Cash) | 53.11 | 16.01 | 10.09 |
| Investing Activities (Net Cash) | 39.74 | 29.73 | 20.04 |
| Financing Activities (Net Cash) | 102.00 | 40.18 | 50.48 |
| Net Cashflow | 10.35 | 7.69 | 6.60 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
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.
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.
Peer Comparison:
- Wise Travel India Ltd
- Shree OSFM E-Mobility Ltd
Ecos (India) Mobility & Hospitality Ltd IPO 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.
- 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.
How To Apply for Ecos (India) Mobility & Hospitality Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.