The initial public offering (IPO) of ECOS Mobility, which began on August 28, 2024, is seeing enthusiastic participation from investors. Here’s a breakdown of the IPO’s progress and what it could mean for those looking to invest.
ECOS Mobility is offering its shares at a price between ₹318 and ₹334 each. The IPO is open until August 30, 2024. The company has raised ₹180.36 crore from anchor investors, signaling strong early interest.
Investors can apply for shares in blocks of 44.”The allocation of shares is detailed below:”
- Qualified Institutional Investors (QIBs): 50% of the issue.
- Retail Investors: 35% of the issue.
- Non-Institutional Investors (NIIs): 15% of the issue.
On the second day of the IPO, the subscription levels are as follows:
- Overall Subscription: 5.26 times the total shares available.
- Retail Segment: 5.66 times subscribed.
- Non-Institutional Investors (NII) Segment: 11.29 times subscribed.
- Qualified Institutional Investors (QIB) Segment: 5% booked.
These figures indicate a high demand for the shares, suggesting a strong market reception.
In the unofficial grey market, ECOS Mobility’s shares are trading at a premium of ₹161 over the issue price. This means investors are willing to pay ₹161 more per share before the official listing.
Given the issue price of ₹334, this premium suggests that the shares could list at approximately ₹495, which is a 48% increase. This positive trend in the grey market suggests that the shares might perform well on their debut.
The strong subscription rates and positive grey market premium are encouraging signs for the ECOS Mobility IPO. Investors should stay informed and carefully evaluate their investment decisions.