Ecos Mobility IPO fully subscribed on Day 1, ends with thrice subscription

The initial public offer of chauffeur-driven mobility provider Ecos (India) Mobility & Hospitality got fully subscribed on the first day of bidding on Wednesday and ended the day with 3.36 times subscription.

The Rs 601 crore initial share sale received bids for 4,22,82,284 shares against 1,26,00,000 shares on offer, as per NSE data.

The category for non-institutional investors received 6.64 times subscription while the portion for Retail Individual Investors (RIIs) got subscribed 3.84 times. The Qualified Institutional Buyers (QIBs) part got subscribed 4 per cent.

The Initial Public Offer (IPO) is entirely an Offer For Sale (OFS) of up to 1,80,00,000 equity shares.

The IPO has a price range of Rs 318-334 a share.

Ecos (India) Mobility & Hospitality Ltd on Tuesday said it has raised Rs 180.36 crore from anchor investors.

Since the public issue is entirely an OFS, the Delhi-based firm will not receive any proceeds from the IPO and the money will go to promoters selling ...