ECOS Mobility & Hospitality Soars on Market Debut

Shares of ECOS (India) Mobility & Hospitality Ltd debuted with a 17% premium over its issue price of Rs 334. The stock surged to Rs 456 on the BSE and had a market valuation of Rs 2,540.70 crore. The IPO was subscribed 64.18 times.

Shares of chauffeur-driven mobility provider ECOS (India) Mobility & Hospitality Ltd debuted with a significant premium of over 17 percent against their issue price of Rs 334 on Wednesday.

The stock opened at Rs 391.30, reflecting a 17.15 percent increase on the BSE, and later surged 36.52 percent to Rs 456.

At the NSE, shares listed at Rs 390, marking a premium of 16.76 percent. The company's market valuation reached Rs 2,540.70 crore.

The initial public offering (IPO) of ECOS (India) Mobility & Hospitality was notably oversubscribed, with bids amounting to 64.18 times the offered shares on the final bidding day.

The Rs 601 crore share sale was an Offer For Sale (OFS) of up to 1,80,00,000 equity shares, with a price range set at Rs 318-334 per share. The Delhi-based company has over 25 years of experience in providing Chauffeured Car Rentals (CCR) and Employee Transportation Services (ETS) to corporate clients.

ECOS operates a diverse fleet of more than 9,000 vehicles, ranging from economy to luxury cars, and specialty vehicles like luggage vans, limousines, vintage cars, and accessible transportation for people with disabilities.

(With inputs from agencies.)