Ecos makes smart debut

about 1 month ago
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Another new listing today and once again a good one – Ecos Mobility got listed on the BSE at Rs.391.30 v/s IPO price of Rs.334. It soon shot up to Rs.456 and is now trading at Rs.423 levels.

The IPO did very well, getting overall subscribed 64.26x, with QIBs portion at 136.85x, HNIs at 71.23x and Retail at 19.79x.

Ecos (India) Mobility provides chauffeured car rentals and employee transportation services under B2B2C model to 1,100 corporates, with the business verticals accounting for 45% and 55% of revenue respectively. While the Delhi-headquartered company operations pan-India, 4 cities (Bengaluru, Gurgaon, Mumbai, Hyderabad) contribute to 57% of Rs. 554 cr revenue.

Our conclusion in the IPO Analysis - IPO is an ‘apply’ only for long term, as pricing limits short term upside.  

481.2 (-9.55)

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