ECOS India IPO Opens On August 28
By : Ravi Ranjan Prasad
Update: 2024-08-23 16:45 GMT
Mumbai: Car rental company ECOS(India) Mobility and Hospitality has set price band of Rs 318 to Rs 334 per equity share of Rs 2 face value for Rs 600 crore initial public offering.
ECOS is engaged in the business of providing chauffeured car rentals and employee transportation services and have been providing these services to corporate customers in India, for more than 25 years in key cities like Bengaluru, Gurgaon, Hyderabad,
The public issue of ECOS is entirely an offer for sale by promoter selling shareholders to achieve benefits of listing and promote public shareholding in the company, the management said.
The public offer will open for bidding on August 28 and close on August 30, 2024.
The company offers customers with solutions to manage their employee ground transportation in India as well as 30 foreign cities as the largest and most profitable chauffeur driven mobility provider to corporates in India, as per the red herring prospectus.
ECOS had a fleet of 12,166 vehicles sourced from vendors comprising 94.19 per cent of total fleet size while 5.81 per cent of vehicles were owned by promoters as of March 31, 2024. The vendors included drivers owning cars as well as others providing a different sized fleet of cars to the company..