Ecos Mobility IPO Day 2: Issue subscribed 5.57 times so far, NIIs lead; check details

Ecos (India) Mobility & Hospitality IPO has received a good response from investors, with the issue being subscribed 5.57 times on Thursday, the second day of bidding.

The initial public offering received bids for 7,01,45,592 shares against 1,26,00,000 equity shares on offer.

The category for retail investors was subscribed 5.98 times, while the non-institutional investors (NIIs) quota received 11.96 times the subscription. The portion for qualified institutional buyers was subscribed 5%.

The IPO is an offer-for-sale (OFS) of up to 1.80 crore equity shares. As there is no fresh issue component, the money raised will go to promoters who are offloading shares.

Before the IPO, Ecos (India) Mobility & Hospitality raised ₹180.36 crore in the anchor round from investors such as WhiteOak Capital Mutual Fund (MF), Aditya Birla Sun Life MF, ICICI Prudential MF, Troo Capital, Nomura India, and OptiMix Global Emerging Markets Share Trust, among others.

Ecos Mobility IPO: Timeline

• Bidding period: August 28 to August 30
• Allotment finalisation: September 2
• Refund initiation: September 3
• Demat transfer: September 3
• Listing: September 4

About Ecos Mobility

Ecos (India) Mobility & Hospitality provides chauffeured car rentals and employee transportation services to corporate customers. It operates more than 9,000 vehicles, from economy to luxury cars. It also offers speciality vehicles like luggage vans, vintage cars, limousines and vehicles for accessible transportation for people with disabilities.