ECOS (India) Mobility & Hospitality Limited is a chauffeur driven car rental service provider in India. The company’s primary business is to provide chauffeured car rentals (“CCR”) and employee transportation services (“ETS”).
The company has been offering these services to corporate clients, including Fortune 500 companies in India.
As of March 31, 2024, the company had a presence throughout India, operating in 109 cities using its own vehicles and vendors. It was spread across 21 states and four union territories, showcasing its extensive reach and penetration into diverse regions across the country.
In Fiscal 2024, ECOS (India) Mobility has served the CCR and ETS requirements of over 1,100 organizations in India. The company offers self-driven cars in Delhi, Gurugram, Mumbai, and Bengaluru.
In Fiscal 2024, ECOS (India) Mobility completed over 3,100,000 trips, averaging more than 8,400 trips per day through its CCR and ETS segments.
The company has a fleet of over 12,000 cars, including economy, luxury, and mini vans, as well as specialty vehicles such as luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities.
The clientele of the company include InterGlobe Aviation Limited (Indigo), HCL Corporation Private Limited, Safexpress Private Limited, Deloitte Consulting India Private Limited, Urbanclap Technologies Private Limited (Urban Company), IndusInd Bank Limited, Foresight Group Services Limited FZCO, HDFC Life Insurance Company Limited, Thomas Cook, India, Grant Thornton Bharat LLP, WM Global Technology Services India Private Limited (Walmart Global Tech), VRB Consumer Products Private Limited, Pinkerton Corporate Risk Management Private Limited, MedGenome Labs Limited, Dreamfolks Services Limited, Mercer Consulting(I) Private Limited, FNF India Private Limited (Fidelity), exl Service.com (India) Private Limited, Gujarat Guardian Limited and VA Tech Wabag Limited.
On March 31, 2024, the company had 671 employees in its crucial operations team, responsible for real-time quality checks and issue resolution.
ECOS Mobility IPO – Details
| IPO Opening Date | 28 August 2024 |
| IPO Closing Date | 30 August 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,80,00,000 Shares Worth ₹601.20 Crore Offer For Sale: 1,80,00,000 Shares Worth ₹601.20 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹318 – ₹334 per share |
| Market Lot | 44 Shares |
| Min Order | 44 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
ECOS Mobility IPO – Date Schedule
| IPO Open Date | 28 August 2024 |
| IPO Close Date | 30 August 2024 |
| Basis of Allotment | 02 September 2024 |
| Initiation of Refund | 03 September 2024 |
| Credit of Shares to Demat Account | 03 September 2024 |
| IPO Listing Date | 04 September 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 30, 2024 |
ECOS Mobility IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 44 | ₹14,696 |
| Retail (Max) | 13 | 572 | ₹1,91,048 |
| S-HNI (Min) | 14 | 616 | ₹2,05,744 |
| S-HNI (Max) | 68 | 2,992 | ₹9,99,328 |
| B-HNI (Min) | 69 | 3,036 | ₹10,14,024 |
Competitive 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.
- Robust financials with consistent performance.
Company Promoters
- Rajesh Loomba
- Aditya Loomba
- Nidhi Seth
- Rajesh Loomba Family Trust
- Aditya Loomba Family Trust
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 151.55 | 138.56 | 9.87 | 3.34 |
| 31 March 2023 | 425.42 | 367.13 | 43.59 | 32.95 |
| 31 March 2024 | 568.20 | 485.88 | 62.53 | 21.72 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 42.75% |
| ROCE | 42.88% |
| Debt/Equity | 0.12 |
| RoNW | 42.75% |
| P/BV | 11.3 |
| PAT Margin (%) | 11 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 10.42 | 10.42 |
| P/E (x) | 32.05 | 32.05 |
Object Of The Issue
- The company will not directly receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.
ECOS Mobility IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Wise Travel India Ltd | 20.82 |
| 2 | 10 | Shree OSFM EMobility Ltd | 23.73 |
ECOS Mobility IPO Promoter Holding
| Pre Issue Share Holding | 97.75% |
| Post Issue Share Holding | 67.75% |
ECOS Mobility IPO Prospectus
Company Contact Information
| ECOS (India) Mobility & Hospitality Limited 45, First Floor, Corner Market Malviya Nagar, New Delhi-110017 Phone: +91 11 41326436 Email: legal@ecorentacar.com Website: https://www.ecosmobility.com/ |
ECOS Mobility IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: ecorentacar.ipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
ECOS Mobility IPO Lead Manager(s)
| 1. Equirus Capital Private Limited 2. IIFL Securities Limited |
ECOS Mobility IPO FAQs
| What is ECOS Mobility IPO? ECOS Mobility IPO is a main-board IPO. The issue is priced at ₹318 to ₹334 per equity share. The IPO is to be listed on BSE & NSE. |
| When ECOS Mobility IPO will open? The IPO is to open on 28 August 2024 for QIB, NII, and Retail Investors. |
| What is ECOS Mobility IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the ECOS Mobility IPO? You can apply ECOS Mobility IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the ECOS Mobility IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “ECOS Mobility IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the ECOS Mobility IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “ECOS Mobility IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the ECOS Mobility IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “ECOS Mobility IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the ECOS Mobility IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “ECOS Mobility IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is ECOS Mobility IPO Size? ECOS Mobility IPO size is ₹601.20 Crore. |
| What is ECOS Mobility IPO Price Band? ECOS Mobility IPO Price Band is ₹318 to ₹334. |
| What is ECOS Mobility IPO Minimum and Maximum Lot Size for retail? The minimum bid is 44 Shares with ₹14,696 amount while the maximum bid is 572 Shares with ₹1,91,048. |
| What is the ECOS Mobility IPO Allotment Date? ECOS Mobility IPO allotment date is 02 September 2024. |
| What is the ECOS Mobility IPO Listing Date? ECOS Mobility IPO listing date is 04 September 2024. The IPO is to be listed on BSE and NSE. |
