ECO Mobility IPO opens to investors for bidding on August 28. The company will stop taking bids on August 30.
Issue Size
The company wants to raise Rs 601.20 crore from investors through an offer for sale of 18 million shares. As the issue is purely an offer for sale, the funds will not go to the company but to the promoters and other selling shareholders of the company.
ECOS Mobility IPO details
ECO Mobility kept the IPO price band in a range of Rs 318 to Rs 334 per equity share. The allotment of the shares is expected to be finalised by September 02. The listing is likely to be on September 04 on NSE and BSE, as per the tentative schedule.
Stocks To Watch: HUL, NBCC, ICICI Prudential, Zydus Life, Wipro Post demerger, Adani Wilmar eyes aggressive business expansion Bihar’s toll plaza crackdown: 16,755 e-challans worth Rs 9.49 crore issued in a week via e-detection system Bengal bandh: BJP workers block 49 train tracks; Sealdah, Shyambazar, other areas hit by protests
Minimum Investment Requirement
A retail application is of a minimum of 44 shares which equals Rs 14, 696 shares. There are different lot sizes for small and big NIIs, ranging from Rs 2,05,744 to Rs 10,14,024.
ECOS Mobility IPO Review
The company is focusing on the integration of technology into its services and has created a custom online booking tool to ensure operational excellence. ECOS Mobility also intends to expand its geographical footprint globally to capitalize on all the growth opportunities available. Investors looking to invest can invest in the IPO for “medium to long term,” said Master Capital in an IPO note.
BRLMs and Registrar
Equirus Capital Pvt Ltd and IIFL Securities Ltd are the book-running lead managers of the IPO, while Link Intime India Pvt Ltd is the registrar for the issue.
