Ecos (India) Mobility & Hospitality Limited

LISTED

Mainboard IPO · IPO Guide

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Issue Price

₹318 – ₹344

Listed On

04 Sep 2024

Listing Price

₹391 (+13.66%)

Current Price LIVE

₹391 (+13.66%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	44	₹15,136
Retail (Max)	13	572	₹1,96,768
S-HNI (Min)	14	616	₹2,11,904
S-HNI (Max)	68	2,992	₹10,29,248
B-HNI (Min)	69	3,036	₹10,44,384

Retail: ≤ ₹2L • S-HNI: ₹2L–₹10L • B-HNI: > ₹10L Cap Price: ₹344/sh

As per financials, Ecos (India) Mobility & Hospitality Limited has shown good growth, RoNW is 42.7% and P/E is 203, 45.97 and 32.05 respectively as per FY22, FY23, and FY24 earnings. So, issue looks fully priced. Company is in chauffeur driven car services specifically for corporate customers in B2B segment, which is a specialised business segmented. Performance of BRLM is good. So, we give SUBSCRIBE rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

As on Date	QIB	NII	RII	Total
Shares Offered / Reserved	36,00,000	27,00,000	63,00,000	1,26,00,000
Day 1 24-08-28	1,59,456 (0.04)	1,79,45,532 (6.65)	2,42,51,612 (3.85)	4,23,56,600 (3.36)
Day 2 24-08-29	3,75,980 (0.1)	6,33,62,112 (23.47)	5,66,60,648 (8.99)	12,03,98,740 (9.56)
Day 3 24-08-30	49,26,74,468 (136.85)	19,21,49,980 (71.17)	12,38,65,808 (19.66)	80,86,90,256 (64.18)

Open Date	Aug 28, 2024
Close Date	Aug 30, 2024
Allotment Date	Sep 03, 2024
Listing Date	Sep 04, 2024
Face Value	₹ 2 Per Equity Share
Issue Price	₹ 318 to ₹ 344 Per Equity Share
Issue Size	Offer for sale Up to 1,80,00,000 with aggregating up to Rs 619.2/- Cr
Retail Min Lot	1 Lot (44 Shares - ₹ 15,136)
Retail Max Lot	13 Lots (572 Shares - ₹ 1,96,768)
S-HNI Min Lot	14 Lots (616 Shares - ₹ 2,11,904)
S-HNI Max Lot	68 Lots (2,992 Shares - ₹ 10,29,248)
B-HNI Min Lot	69 Lots (3,036 Shares - ₹ 10,44,384)
Allocation	QIB: 50% \| NII: 15% \| RII: 35%
Promoter Shareholding	97.75% (Pre-Issue) 67.75% (Post-Issue)
Registrar	Link Intime India Private Limited
Lead Manager	Equirus Capital Private Limited, IIFL Securities Limited

As per financial performance, Ecos (India) Mobility & Hospitality Limited has posted total income / net profits of Rs 151.55 Cr / Rs 9.87 Cr (FY22), Rs 425.43 Cr / 43.59 Cr (FY23) and Rs 568.21 Cr / Rs 62.53 Cr (FY24). So as per previous financials data, company has shown good growth. Company has an average EPS of Rs 7.91 and average RoNW of 39.41% for last three fiscals. Issue is priced at a P/BV of 11.30 as per NAV of Rs 29.57/- as on 31.03.24. If we attribute latest earnings of FY22, FY23, and FY24 on equity post issue, then asking price is at a P/E of around 203, 45.97 and 32.05 respectively. As per RHP, comparison between listed peers is shown in above table. On BRLM's front, two lead managers are associated with this IPO, and have handled around 35 IPOs ( Mainboard and SME ) in last three fiscals. IIFL Securities Limited: This is 34th IPO from this BRLM. From last 10 IPOs, one opened below issue price on the day of listing. As of now, from last 10 IPOs, two are trading below issue price and remaining are trading above issue price. (As on 23.08.23) Equirus Capital Private Limited: This is 15th IPO from this BRLM. From last 10 IPOs, two opened below issue price and remaining above or at par on the day of listing. As of now, from last 10 IPOs, three are trading below issue price and remaining are trading above issue price or at par as of now. (As on 23.08.23) As per financials, Ecos (India) Mobility & Hospitality Limited has shown good growth, RoNW is 42.7% and P/E is 203, 45.97 and 32.05 respectively as per FY22, FY23, and FY24 earnings. So, issue looks fully priced. Company is in chauffeur driven car services specifically for corporate customers in B2B segment, which is a specialised business segmented. Performance of BRLM is good. So, we give SUBSCRIBE rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

50 Comments

I
IPO Guide 04 Sep 2024, 10:50

@all, there is no specific view for this company as it's difficult to predict future of such kind of sector. So one may book profit.
A
amit 04 Sep 2024, 10:47

right
S
SAVAN 04 Sep 2024, 10:27

Game Ho Gaya Sala Retell k sath
S
SAVAN 04 Sep 2024, 10:26

390 SELL
H
himanshu 04 Sep 2024, 10:09

ecos india mobility ko selll krna thk h ya hold krna @ipo guide
A
akhil 04 Sep 2024, 09:52

ceigall India bhi ase thi
A
akhil 04 Sep 2024, 09:52

jha India aeye piche vha kam khrab h
A
akhil 04 Sep 2024, 09:52

dawn ayega ab
A
anshu 04 Sep 2024, 09:46

390
S
SAVAN 04 Sep 2024, 09:39

Tabhi To E Upar Khulega Bhai Log
S
SAVAN 04 Sep 2024, 09:39

SELL Order Cancel karo Sab
M
MEHUL PRAJAPATI 04 Sep 2024, 08:52

RIP FOR ECOS IPO MONEY
M
MEHUL PRAJAPATI 04 Sep 2024, 08:52

aek ipo lagta hai usme bhi global market kuch hath nahi aane deta
M
MEHUL PRAJAPATI 04 Sep 2024, 08:52

global market ne apni aaukat dikha di
H
hardik 03 Sep 2024, 23:29

put walo ke maje hi maje hai
H
hardik 03 Sep 2024, 23:29

300/400point-- open hoga ok
H
hardik 03 Sep 2024, 23:29

kal Indian market
A
akhil 03 Sep 2024, 23:17

Daw jon -500
H
hardik 03 Sep 2024, 22:26

?
H
hardik 03 Sep 2024, 18:32

latest gmp
U
umesh karena 03 Sep 2024, 17:06

00/01 kotak asba>r
I
IPO Guide 03 Sep 2024, 11:33

@prem, yes cartrade was one setback for investors. But here valuation is not too much. Although no one can predict future price movement, so overall a above average company.
I
IPO Guide 03 Sep 2024, 11:29

About company, as it's in simple language taxi renting business with luxury touch and orgaized player. So we may see sales growth of nearly 15-20% and after listing there won't be much left as per valuation point of view. So one may expect normal return if holding for medium to long term.
I
IPO Guide 03 Sep 2024, 11:18

@Mehul and others, don't worry about amount not deducted. It will be before credit of actual shares in account.
D
deepak 03 Sep 2024, 10:49

ho gya
K
kirtan 03 Sep 2024, 10:29

@all anyone's Ecos ka block huva payment unblock ho Gaya kisiko kyuki bank me abhi show nahi kar raha he
P
pj 03 Sep 2024, 10:14

premier energies
P
pj 03 Sep 2024, 10:13

sell nahi ho raha
H
himanshu 03 Sep 2024, 08:56

I have alot this ipo can i hold this ipo ya Direct sell
D
Dhruvil 03 Sep 2024, 08:50

0/2
M
MEHUL PRAJAPATI 03 Sep 2024, 08:48

gurujii ipo laga hai lekin mandate kyun fail ho gaya paise nahi kate
M
Mayur 03 Sep 2024, 08:37

0/5
P
prem 03 Sep 2024, 07:51

cardtrd ko yad karna
A
Ashish 03 Sep 2024, 00:31

can i hold ipo guide
A
Ashish 03 Sep 2024, 00:31

1/3
A
Ashish 03 Sep 2024, 00:30

nice
A
Abhishek 03 Sep 2024, 00:11

3-0
S
Suraj Khutarkar 03 Sep 2024, 00:05

0/1
S
Suraj Khutarkar 03 Sep 2024, 00:04

unblocking started
S
sudhir 02 Sep 2024, 23:57

0/1
K
Ketan Vadher 02 Sep 2024, 23:40

0/6
D
Dipak Kachadiya 02 Sep 2024, 23:27

0/3
J
jay 02 Sep 2024, 23:25

0/2
R
Rishi Narang 02 Sep 2024, 22:38

tonight around 12 AM debit will begin for all those who get allotment
U
umesh karena 02 Sep 2024, 22:03

with hni big profit
U
umesh karena 02 Sep 2024, 22:03

one pan card one apply best
V
vikram 02 Sep 2024, 21:56

1 pencard se kitne trending account se ipo laga sakte h plz koi batwo
V
vikram 02 Sep 2024, 21:54

hi
C
Chetan Bhavsar 02 Sep 2024, 21:51

yes
S
Shubham shah 02 Sep 2024, 21:21

ratko 12 baje k bad ho jayega

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY24	568.21	485.89	62.53
FY23	425.43	367.14	43.59
FY22	151.55	138.57	9.87

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
Ecos (India) Mobility & Hospitality Limited Current	11.30	32.05	42.7%	568
Wise Travel India Limited	4.40	28.2	57.2%	411
Shree OSFM E-Mobility Limited	-	35.1	39.6%	118

Ecos (India) Mobility & Hospitality Limited

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