Ecos (India) Mobility & Hospitality Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹334
Per ShareLot Size
44 Shares
Minimum Investment
₹14,696
Issue Size
₹601.2 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Ecos (India) Mobility & Hospitality Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
97.75%
Issue Type
Book Building
ISIN
INE06HJ01020
About the Company
Ecos (India) Mobility & Hospitality Limited is primarily engaged in the business of providing chauffeured car rentals ("CCR") and employee transportation services ("ETS") and has been providing these services to corporate customers, including Fortune 500 companies in India, for more than 25 years. The CCR segment is a B2B2C business, where its customers are corporate companies, and the end consumer is an employee, visitor or client of these corporate companies. Through its ETS segment, The Company offers customers with solutions to manage their employee ground transportation. The Company is the largest and most profitable chauffeur driven mobility provider to corporates in India, in terms of revenue from operations and profit after tax for Fiscal 2023.
Industry Overview
The market for ETS in India is US$ 6.1 billion in Fiscal 2023. Organized players hold an estimated 15% market share of the total ETS market in India (as of CY2023). Further, the market for CCR in India is US$ 4.7 billion in Fiscal 2023. The organized segment in the CCR market is estimated to hold a share at about 25% of total market (as of CY2023). The market growth in the ETS and CCR segments is fuelled by transition from remote work to in-office work, rise in corporate air travel, expansion of office space and expansion of tier-II and tier-III cities, and enhanced efficiency by consolidating car rental and employee transportation services with a single or fewer vendors providing centralised solutions for nationwide coverage. The corporate car rental market in India has grown from a revenue of Rs.315.6 billion in CY 2021 to Rs.392.4 billion in CY 2023. The employee transportation service market in India has grown from a revenue of Rs.398.2 billion in CY 2021 to Rs.503.5 billion in CY2023.
Company History
Ecos (India) Mobility & Hospitality Limited was originally incorporated as "ET TRAV-AIDES Private Limited" a private limited company under the Companies Act, 1956 through certificate of incorporation dated February 15, 1996, issued by the RoC. Thereafter, the name of the Company was changed to "Ecos (India) Mobility & Hospitality Private Limited" pursuant to a Board resolution dated August 08, 2008 and a special resolution passed in the extra ordinary general meeting of the Shareholders held on August 12, 2008 and consequently a fresh certificate of incorporation dated September 23, 2008 was issued by the RoC to reflect the change in name. Thereafter, the name of the Company was changed to "Ecos (India) Mobility & Hospitality Limited" upon conversion to a public limited company pursuant to a Board resolution dated February 29, 2024 and a resolution passed in the extra-ordinary general meeting of the Shareholders held on February 29, 2024 and consequently a fresh certificate of incorporation dated March 22, 2024, was issued by the RoC.
Products & Services
- The Company is primarily engaged in the business of providing chauffeured car rentals ("CCR") and employee transportation services ("ETS")
Growth Strategy
- Expanding its presence in Tier-II and Tier-III cities in India and increasing its penetration in cities with existing operations.
- Acquisition of new customers and increasing revenue from existing customers and expanding its sales team.
- Continue to focus on technology to ensure operational excellence.
- Continue focus on building its brand through its brand building strategies and focus on operational excellence.
- Expanding its geographical footprint globally.
- Leverage its position in the chauffeur driven mobility provider industry to capitalize on the growth in the industry which will drive its next phase of growth.
Customer Base
Corporates, including Fortune 500 companies in India
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 18,000,000 equity shares of face value of Rs. 2 each ("Equity Shares") of Ecos (India) Mobility & Hospitality Limited ("The Company" or the "Issuer") for cash at a price of Rs. 334.00 per equity share ("Offer Price") aggregating to Rs. 601.20 crores (the "Offer"). The offer comprises of an offer for sale of 18,000,000 equity shares of face value Rs. 2 each (the "Offered Shares") aggregating to Rs. 601.20 crore, including 9,900,000 equity shares of face value Rs. 2 each aggregating to Rs. 330.66 crores by Rajesh Loomba and 8,100,000 equity shares of face value Rs. 2 each aggregating to Rs. 270.54 crores by Aditya Loomba ("Selling Shareholders") (the "Offer for Sale"). The offer constitutes 30.00# % of the post-offer paid-up equity share capital of the company. The face value of the equity shares is Rs. 2 each and the offer price is 167 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- India's largest and most profitable chauffeur driven mobility provider in a growing chauffeur driven mobility provider market in terms of revenue from operations and profit after tax for Fiscal 2023.
- Long-standing customer relationships with business synergies across business segments.
- Pan-India presence with operations in 109 cities in India.
- Established brand built over years through operational excellence.
- Comprehensive technology ecosystem enabling operational superiority.
- The company is measured against high quality service standards and governed by the terms and condition of its contracts with the company customers. Any failure by it to comply with these standards or the terms and conditions may lead to the cancellation of existing and future bookings, which could adversely affect its reputation, business, results from operations, financial conditions and cash flows.
- Its business depends on the company relationships with vendors who supply vehicles and chauffeurs to its, and any adverse changes in such relationships, or its inability to enter into new relationships, could adversely affect the company business and results of operations.
- The company derives a significant part of its revenue from some customers, and the company does not have long term contracts with all of these customers. If one or more of such customers choose not to utilise its services or to terminate the company contracts or agreements, its business, cash flows, financial condition and results of operations may be adversely affected.
- Any downturn in Global capability centres ("GCC") would create an adverse impact on its revenue from customers in the ETS business segment, cash flows and financial conditions.
- Misconduct by its employees and contracted chauffeurs may be difficult to detect and could harm the company brand and its reputation, or adversely affect the company's business prospects, results of operations and financial condition.