ECO Mobility IPO

Aug 28, 2024 Credit: ECO Mobility

New Delhi-based ECO Mobility’s initial public offering (IPO) will open on August 28 and will close on Thursday, August 30. Credit: iStock

Price band

ECO Mobility has fixed a price band of ₹318-₹334 per share for its public issue. Credit: Unsplash

About the company

ECO Mobility is a New Delhi-based chauffeur-driven car rental service provider and also offers employee transportation services. Credit: Canva

IPO size

ECO Mobility is looking to raise ₹601.20 crore from the current IPO. This is completely an offer for sale (OFS) and there is no fresh issue. Credit: Unsplash

Lot size

Investors can bid for a minimum of 44 shares and in multiples of 44 shares thereafter. Credit: Unsplash

Current operations

The company, founded in 1996 offers chauffeur-driven car rental and employee transportation services to over 1,100 companies in India. The company currently focuses on Delhi, Gurugram, Mumbai, and Bengaluru. Credit: Canva

Financials

The company’s income was ₹568.21 crore in FY24, up from ₹425.43 crore in FY23. The company reported a profit of ₹62.53 crore in FY24, up from ₹43.59 crore loss reported in FY23. Credit: Canva

Risk factors

The company depends on vendors for vehicles and chauffeurs and any adverse changes in this relationship might have an adverse impact on its business. Credit: Unsplash

Objectives of the issue

As this is an offer for sale, the funds raised will not be received by the company. Credit: iStock

Disclaimer

The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, and registered advisors for professional and personalised financial advice. Credit: Canva