IPO Details
Bidding Dates
28 Aug 24 - 30 Aug 24
Price Range ₹
318 - 334
Total Equity
₹ 601.20Cr
Lot Size
44
Exchange Status
BSE,NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
19.79×
Qualified Institutional Buyers
136.85×
Employees
0.00×
Retail Investors
19.79×
Total subscription Rate
64.26×
IPO Timeline
Offer start
28 Aug 2024
Offer end
30 Aug 2024
Allotment
02 Sept 2024
Refund initiation
03 Sept 2024
Demat transfer
03 Sept 2024
Listing
04 Sept 2024
Offer start
28 Aug 2024
Offer end
30 Aug 2024
Allotment
02 Sept 2024
Refund initiation
03 Sept 2024
Demat transfer
03 Sept 2024
Listing
04 Sept 2024
About Company
Established: February 1996 Business: Chauffeur-driven car rentals (CCR) and employee transportation services (ETS) Market Reach: Operates in 109 cities across 21 states and 4 union territories in India (as of March 31, 2024) Served over 1,100 organizations in India during Fiscal 2024 Services: Primarily focuses on CCR and ETS for corporate clients, including Fortune 500 companies. Offers self-driven car rentals in select cities (Delhi, Gurugram, Mumbai, Bengaluru) Fleet size: Over 12,000 cars, including: * Economy, luxury, and minivans * Specialty vehicles (luggage vans, limousines, vintage cars, accessible vans) Clientele: Includes prominent companies like Indigo, HCL, Safexpress, Deloitte, Urban Company, IndusInd Bank, HDFC Life, Thomas Cook, Grant Thornton, Walmart Global Tech, and more. Operations Team: Dedicated team of 671 employees as of March 31, 2024, responsible for real-time quality checks and issue resolution.
Year Founded
15-02-1996
Promotor Details
Rajesh Loomba
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 97.75 | 67.75 |
| Share Capital | 58649986 | 40649986 |
Offer to Public
1,80,00,000.00 Cr
Project Details
- (v) Miscellaneous - 57.41cr
- (iii) Printing and distribution of Offer stationery - 9.69cr
- Fees payable to the BRLMs - 212.82cr
- (ii) Listing fees, SEBI filing fees, book building software fees and - 49.43cr
- Brokerage, selling commission, upload fees, processing fees and - 24.75cr
- Fees payable to the Registrar to the Offer - 35.75cr
- (iv) Advertising and marketing expenses for the Offer - 19.59cr
- (i) Fees payable to legal counsel, statutory auditor, independent - 35.75cr
Objectives
- (i) achieve the benefits of listing the Equity Shares on the Stock Exchanges
- (ii) carry out the Offer for Sale of 18,000,000# Equity Shares aggregating to ?6,00 million# by the Selling Shareholders
Highlights
- ECO Mobility's operations span across 109 cities in India, demonstrating a strong market presence.
- The company offers a wide range of vehicles, catering to various customer needs and preferences.
- ECO Mobility serves a diverse range of industries, including leading corporations, indicating its reliability and market acceptance.
- The company has exhibited steady growth in revenue and profitability over the past few years.
- The company's ability to maintain a large fleet and serve a diverse customer base efficiently is a testament to its operational efficiency.
Challenges
- The company's reliance on vendors for vehicles and chauffeurs exposes it to supply chain risks.
- A significant portion of revenue comes from a few key customers, making the company vulnerable to customer churn.
- The ETS business segment's reliance on GCCs could be impacted by economic downturns.
- The company's revenue is tied to long-term customer contracts, which could be terminated, affecting financial stability.
- Ongoing litigation poses potential financial risks and could impact operations.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2022 | 1,091.26 | 0.60 | 98.71 | 98.72 | 1.6453 |
| 2021 | 1,043.68 | 0.60 | 29.95 | 29.95 | 0.4992 |
| 2024 | 3,132.38 | 120.00 | 29.95 | 29.95 | 0.4992 |
| 2023 | 2,401.20 | 0.60 | 98.71 | 98.72 | 1.6453 |
