Ecos Mobility Charts IPO Course with 18M Shares on the Back of Exceptional FY2023 Success

Friday, March 29, 2024

Ecos (India) Mobility & Hospitality Limited, the leading provider of chauffeur-driven mobility solutions to corporate clients in India, has emerged as the largest and most profitable in its sector for Fiscal 2023, as per the F&S Report. The company has now submitted its Draft Red Herring Prospectus (DRHP) to SEBI for an Initial Public Offering (IPO) of up to 18,000,000 Equity Shares with a Face Value of ₹ 2 each.

The promoters of the Company include Rajesh Loomba, Aditya Loomba, Rajesh Loomba Family Trust, and Aditya Loomba Family Trust. The IPO consists of an Offer for Sale (OFS) of up to 18,000,000 Equity Shares, with Rajesh Loomba offering up to 9,900,000 Equity Shares and Aditya Loomba offering up to 8,100,000 Equity Shares.

For over 25 years, the Company has been delivering chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate clientele, including Fortune 500 companies in India. With a fleet exceeding 9,000 vehicles ranging from economy to luxury cars, mini-vans, and luxury coaches, the Company caters to various categories such as luxury vehicles (Audi, BMW, Mercedes-Benz), economy vehicles, premium vehicles, and buses/vans. It also offers specialty vehicles like luggage vans, limousines, vintage cars, and those designed for accessible transportation for people with disabilities.

Ecos (India) Mobility & Hospitality Limited serves clients across multiple industries, including information technology, business process outsourcing, global capability centers (GCCs), consultancy, healthcare, e-commerce, pharmaceutical, legal, and manufacturing. Some notable clients include HCL Corporation Private Limited, HDFC Life Insurance Limited, Thomas Cook India, 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, FNF India Private Limited (Fidelity), exl Service.com (India) Private Limited, and VA Tech Wabag Limited.

Equirus Capital Private Limited and IIFL Securities Limited have been appointed as the Book Running Lead Managers for the IPO.

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