Get the latest updates on the ECOS Mobility IPO, including the launch date, pricing, allotment details, and key insights.

ECOS Mobility has published that its IPO has opened today, i.e., 28^th August 2024, and will end on 30^th August 2024. The company specializes in innovative transportation solutions, focusing on electric vehicles and sustainable mobility services. It aims to gather INR 601.20 crore with a price range of INR 318 to INR 334 per share, a face value of INR 2 per share.

Table of Contents

• Company Overview
• Company Strategy
• Details on IPO Date and Price Band
• IPO Objective
• Market Lot Information on ECOS Mobility IPO
• Allotment Dates for ECOS Mobility IPO
• Application Process of IPO
• Financial Analysis of Company
• IPO Valuation
• Competitor Analysis
• Registrar for ECOS Mobility IPO
• Offer Lead Manager
• Company Address

Company Overview

ECOS Mobility is a leading mobility solutions company that advances the experience of urban mobility through sustainable mobility solutions. Focused on electric vehicles, the ECOS Mobility company is engaged in the comprehensive provision of products and services that help decrease carbon emissions for safe and comfortable travel. The products offered by the company include electric cars and scooters as well as charging stations for these vehicles targeting both the end-users and companies. Focused on innovation, sustainability, and customer-centricity, the company pursues the vision of making cities and the environment greener. Smart mobility in this sense is pursued through the incorporation of intelligent solutions that seek to balance the availability of transport with environmentally friendly solutions.

Company Strategy

ECOS Mobility’s strategy is to offer employee transportation services (ETS) and chauffeur car rental services (CCR), connecting 109 cities with efficient corporate transportation. Cooperating with vendors in vehicle procurement to reduce ownership costs, which leads to higher Return on Equity (RoE) and faster growth. The company also seeks to move deeper into Tier-II and Tier-III cities while also continuing to secure and maintain close ties with key business enterprises to ensure continued profitability and industry dominance within the Indian mobility market.

Details on IPO Date and Price Band

 IPO Objective:

ECOS Mobility uses the IPO to offer their shares and ensure that the current stakeholders can sell their stakes and obtain all the funds raised from the offer. Whereas, the company will not be benefited from any direct cash inflow from the IPO, and all the money will be directly paid to the selling shareholders in proportion to the offered shares. As such, this approach is designed to encourage early investors while allowing the company to sustain its asset-light model and expansion without frequent infusions of capital.

Market Lot Information on ECOS Mobility IPO

The lot size and corresponding amounts are as follows:

• Retail Minimum: 1 lot (44 shares) for INR 14,696
• Retail Maximum: 13 lots (572 shares) for INR 1,91,048
• S-HNI Minimum: 14 lots (616 shares) for INR 2,05,744
• B-HNI Minimum: 69 lots (3,036) for INR 10,14,024

Allotment Dates for ECOS Mobility IPO

ECOS Mobility IPO’s open date is August 28 and the IPO close date is August 30. The IPO allotment date is September 2 and the listing date is September 4.

Application Process of IPO

The IPO can be accessed by submitting an application through the online ASBA (Application Supported by Blocked Amount) facility from the bank through ‘Internet banking’, going to ‘Invest’, and applying for the ECOS Mobility. On the other hand, the IPO forms are also available for download on the BSE & NSE websites which the candidates can fill and submit.

Financial Analysis of the Company

Financials in INR Crores.

ECOS Mobility has reported strong financial growth over the past three years. Revenue increased significantly from INR 151.55 crores in 2022 to INR 568.21 crores in 2024, indicating a robust expansion in business operations. Expenses rose correspondingly, but the company managed to improve its profitability, with Profit After Tax growing from INR 9.87 crores in 2022 to INR 62.53 crores in 2024. Assets also showed substantial growth, increasing from INR 112.38 crores to INR 296.66 crores during the same period, indicating effective asset management and a solid financial position to support future growth.

IPO Valuation (FY 2024)

The company’s EPS stands at a value of INR 10.42 with a Return on Net Worth (RoNW) of 42.75% and a Net Asset Value (NAV) per share of INR 29.57 in the financial year 2024. The IPO price band ranges from INR 318 to INR 334 with the issue of 18,000,000 equity shares to raise INR 601.20 crores and face value INR 2 per share to provide liquidity to existing shareholders, with all proceeds going to them and none directly to the company.

 Competitor Analysis

Here is the competitor of ECOS Mobility:

Wise Travel India Ltd

Wise Travel India Ltd is a travel solutions company offering corporate and leisure travelers with travel management solutions. Some of the common services provided by the company include airline ticketing, accommodation bookings, flight hire, and package tours. The company works with the mission of providing top-notch travel services with an emphasis on customer care and satisfaction, relying on its insider knowledge and a vast network of partners. Its business endeavors to make travel planning easy and ensure that its clients have a smooth journey.

Shree OSFM EMobility Ltd

Shree OSFM EMobility Ltd is a progressive company involved in the manufacturing and marketing of electric mobility products. Operating in the segment of EV manufacturing and associated equipment, the company seeks to contribute to the development of environmentally friendly transport in India. Established on the values of innovation and sustainability, Shree OSFM EMobility offers not only various types of electric vehicles but also charging services and aims to reduce carbon footprint in transportation.

Offer Lead Manager

Equirus Capital Private Limited

Equirus Capital Private Limited is the leading investment banking company in India which undertakes several activities like mergers and acquisitions, private equity, structured finance, and capital market products. It mainly targets to offer quality services and products to various clients such as corporate, and institutional clients as well as high-net-worth individuals. Equirus Capital focuses on offering efficient solutions in the sphere of financial markets, using profound industry experience, a contacts database, and an understanding of the peculiarities to meet clients’ objectives and enhance business performance.

Iifl Securities Ltd

IIFL Securities Ltd is India’s leading financial services company offering broking, wealth management, investment banking, and financial services across equity, commodities, currencies, and mutual funds. It serves retail clients, high-net-worth investors, financial institutions, and public and private corporations. Established for having a strong research arm and advanced trading tools, IIFL Securities wishes to provide the best investment products and financial solutions to clients based on their business requirements.

Conclusion

The IPO of ECOS Mobility is a noteworthy milestone in the company’s development and demonstrates its dedication to environmentally friendly transportation options. With a strong emphasis on innovation and financial performance, the company is well-positioned to draw significant attention from investors. With shares priced between INR 318 and INR 334, the IPO gives interested parties a chance to profit from ECOS Mobility’s growing market position in electric vehicles. When making decisions, investors should carefully analyze the company’s position in the market and prospects for growth since the subscription period ends on August 30.