ECOS (India) Mobility & Hospitality made a strong debut on the stock market on September 4, with shares listing at ₹391, a 17% premium over the issue price of ₹334 per share. This resulted in a profit of ₹2,464 per lot for investors.
Despite this positive start, the listing gains were lower than expected, as the stock had been trading at a 37% premium in the grey market prior to the official listing.
The New Delhi-based company, known for its chauffeur-driven car rental services, saw significant demand for its IPO, which was oversubscribed by 64.18 times. Investors placed bids for 80.86 crore equity shares, compared to the 1.26 crore shares available. Qualified institutional buyers were particularly enthusiastic, subscribing 136.85 times their allocated portion, followed by non-institutional investors with 71.17 times. Retail investors also showed strong interest, subscribing 19.66 times their allotted shares.
