Stellar Debut for ECOS India Mobility & Hospitality with a 32% Premium

Shares of ECOS (India) Mobility & Hospitality Ltd witnessed a significant rise, closing 32% higher than the issue price. The stock debuted at Rs 391.30 and peaked at Rs 456 on the first trading day. The IPO was subscribed 64.18 times, reflecting strong market interest.

Shares of ECOS (India) Mobility & Hospitality Ltd soared on Wednesday, closing with a premium of 32 percent over the issue price of Rs 334.

The stock opened strong at Rs 391.30, marking a 17.15 percent increase on the BSE, and surged to a high of Rs 456 during the day's trade. Ultimately, it ended at Rs 441.05, up 32.05 percent.

On the NSE, the shares debuted at Rs 390, reflecting a 16.76 percent premium, and also closed at Rs 441.05, a 32.05 percent gain.

The company's market valuation soared to Rs 2,646.30 crore. Notably, 22.82 lakh shares were traded on the BSE and 327.63 lakh shares on the NSE during the day.

The initial public offering (IPO) of Ecos (India) Mobility & Hospitality was subscribed 64.18 times on the final day of bidding.

The Rs 601 crore share sale was an Offer For Sale (OFS) of up to 1.8 crore equity shares, with a price range of Rs 318-334 per share.

Based in Delhi, the company has been a leader in providing Chauffeured Car Rentals (CCR) and Employee Transportation Services (ETS) for over 25 years, operating a diversified fleet of over 9,000 vehicles, including luxury cars and specialty vehicles.

(With inputs from agencies.)