ECOS Mobility Lists With 17% Gain At ₹390 Per Share On NSE After Strong IPO Subscription

ECOS Mobility and Hospitality Limited, a chauffeur-driven mobility service provide, on Wednesday (September 4) made its entry into the stock market. The shares of the company began trading on a high note after the listing of the stocks in the Indian bourses.

Opening Day Performance

The shares of ECOS Mobility on the National Stock Exchange (NSE) opened at Rs 390 per share, a 16.77 per cent surge from its issue price of Rs 334.

Similarly, on the Bombay Stock Exchange (BSE), the stock of the company debuted at Rs 391.30 per share, an increase of 17.16 per cent from the issue price.

At 12:20 PM IST, the shares were trading at Rs 446.00 apiece, up by 13.98 per cent on BSE.

"The equity shares of ECOS (India) Mobility & Hospitality Ltd are listed and admitted to dealings on the Exchange in the list of ''B'' Group Securities," the company added in the BSE exchange.

About the IPO details

ECOS Mobility's public issue was kicked off on August 28, 2024 and ended on August 30, 2024. The price band for the IPO was set between Rs 318 to Rs 334 per equity share, with each having a face value of Rs 2.

Before the public issue, the company received Rs 180.36 crore from the anchor investors.

Allocation Breakdown

In terms of allocation, 50 per cent of the issue size was reserved for qualified institutional investors (QIIs).

Retail investors were allocated 35 per cent of the shares, while the remaining 15 per cent was designated for non-institutional investors (NII).

This balanced allocation ensured that a diverse group of investors could participate in the IPO.

Furthermore on the last day of bidding or day 3, the public issue was subscribed 64.26 times.