ECOS (India) Mobility & Hospitality Limited is set to open its initial public offering (IPO) on 28 August 2024, with a price band fixed between INR 318 to INR 334 per equity share. The IPO, which will close on 30 August 2024, offers investors the opportunity to bid for a minimum of 44 equity shares and in multiples of 44 thereafter.
The total offering comprises up to 18,000,000 equity shares with a face value of INR 2 each. This offer for sale includes up to 9,900,000 equity shares from Rajesh Loomba and up to 8,100,000 equity shares from Aditya Loomba, both of whom are the promoter selling shareholders. The IPO is being conducted through the book-building process, where up to 50% of the offer will be allocated to Qualified Institutional Buyers (QIBs), with the possibility of up to 60% of this portion being allocated to anchor investors.
The company has outlined that Equirus Capital Private Limited and IIFL Securities Limited will serve as the book-running lead managers for the offering. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with NSE designated as the primary stock exchange for the listing.
The anchor investor bidding date is set for 27 August 2024, one day prior to the opening of the public offer. Investors can view further details of the IPO through the Red Herring Prospectus, available on the company’s official website.