ECOS Mobility shares listed at ₹391, up 16.77%: Its issue price was ₹334, the company provides employee transport services

ECOS Mobility and Hospitality Limited’s share was listed in the market with a premium of 16.77%. Its share was listed at Rs 390 on NSE. Whereas on BSE it was listed at Rs 391.3. Its issue price was Rs 334. Its IPO was open from 28 to 30 August.

The company raised Rs 601.20 crore through this issue
ECOS Mobility and Hospitality has raised a total of Rs 601.20 crore through the issue. For this, the existing investors of the company have sold 18,000,000 shares worth the entire ₹ 601.20 crore through offer for sale. Not a single fresh share issue was issued for this IPO.

35% of the issue was reserved for retail investors
The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).

ECOS Mobility’s premium in the grey market is 45.81%
Before listing, the company’s stock has reached a premium of 45.81% i.e. ₹ 153 per share in the grey market. In such a situation, according to the upper price band of ₹ 334, its listing can be at ₹ 487. However, this can only be estimated, the listing price of the stock is different from the price of the grey market.

The company works to provide employee transport service
ECOS Mobility and Hospitality Limited provides car rental and employee transport services to corporate customers. With over 25 years of experience, the company operates in more than 100 cities in the country.

What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.