The ECOS (India) Mobility and Hospitality IPO is set to open for subscription tomorrow, Wednesday, August 28. The company has been providing employee transportation services and chauffeured car rentals to major corporate clients for over 25 years.
Key Details of the ECOS (India) IPO
- IPO Dates: The subscription period starts on Wednesday, August 28, and ends on Friday, August 30.
- Price Band: The price range for the IPO is ₹318 to ₹334 per share.
- Lot Size: The minimum lot size is 44 shares, and shares can be bought in multiples of 44 thereafter.
- Anchor Investors: Allocation to anchor investors will occur today, Tuesday, August 27.
- Listing Date: Shares are expected to list on BSE and NSE on Wednesday, September 4.
- Allotment Process: Share allotments will be finalized on Monday, September 2. Refunds will be processed on Tuesday, September 3, and shares will be credited to accounts on the same day.
The IPO will allocate shares as follows:
- Qualified Institutional Buyers (QIB): Up to 50% of the issue.
- Non-Institutional Investors (NII): 15% of the issue.
- Retail Investors: At least 35% of the offer.
The GMP for this IPO is currently +₹151. This means that in the grey market, investors are willing to pay ₹151 more than the IPO price. With the upper end of the price band set at ₹334, the estimated listing price is around ₹485, indicating a potential premium of 45.21%.
The current GMP suggests strong investor interest, but it’s important to remember that grey market activity can be unpredictable. Consider your investment goals and risk tolerance before participating in the IPO.