Delhi-based mobility provider, Ecos (India) Mobility & Hospitality Ltd, has filed its preliminary papers for an initial public offering (IPO) with the Securities and Exchange Board of India (Sebi).
The IPO, revealed in the draft red herring prospectus (DRHP) filed recently, is solely an offer for sale (OFS) of 1.8 crore equity shares by its promoters, Rajesh Loomba and Aditya Loomba. The company won't benefit financially from the IPO as the proceeds will go entirely to the promoters.
As per projections cited in the draft paper, the global corporate mobility market, encompasses ETS and CCR, anticipated to grow steadily with a compound annual growth rate (CAGR) of 9.6 per cent from 2023 to 2030.
Book running lead manage
Equirus Capital and IIFL Securities have been appointed as the book running lead managers for the issue.
About the Ecos (India) Mobility & Hospitality Ltd
The company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate clients.
The company boasts more than 9,000 vehicles spanning from economy to luxury cars, catering to diverse needs. Specialised vehicles including luggage vans, limousines, vintage cars, and those equipped for accessible transportation for individuals with disabilities are also part of its offerings.
