ECOS Mobility shares jump over 17% in market debut

Shares of chauffeur-driven mobility provider ECOS (India) Mobility & Hospitality Ltd listed with a premium of over 17% against the issue price of ₹334 on Wednesday.

The stock made its debut at ₹391.30, a jump of 17.15% from the issue price on the BSE. Later, it zoomed 36.52% to ₹456.

At the NSE, shares of the firm listed at ₹390, a premium of 16.76%.

The company's market valuation stood at ₹2,540.70 crore.

The initial share sale of Ecos (India) Mobility & Hospitality got subscribed 64.18 times on the closing day of bidding on Friday.

The ₹601 crore share sale was entirely an Offer For Sale (OFS) of up to 1,80,00,000 equity shares.

The IPO had a price range of ₹318-334 a share.

The Delhi-based company has been providing Chauffeured Car Rentals (CCR) and Employee Transportation Services (ETS) to corporate customers for more than 25 years.

It operates a fleet of more than 9,000 vehicles from economy to luxury cars. It also provides speciality vehicles like luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities.