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Ecos (India) Mobility & Hospitality Files DRHP for IPO

  • March 29, 2024
  • 2 min read
Ecos (India) Mobility & Hospitality Files DRHP for IPO

Ecos (India) Mobility & Hospitality Limited, the largest and most profitable chauffeur driven mobility provider to corporates in India, in terms of revenue from operations and profit after tax for Fiscal 2023 has filed Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO) of up to 18,000,000 Equity Shares of Face Value of Rs. 2 each (Equity Shares).

The promoters of the Company are Rajesh Loomba, Aditya Loomba, Rajesh Loomba Family Trust and Aditya Loomba Family Trust.

The offer comprises of an Offer for Sale (OFS) of up to 18,000,000 Equity Shares including up to 9,900,000 Equity Shares by Rajesh Loomba; and up to 8,100,000 Equity Shares by Aditya Loomba.

The company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) services to corporate customers, including Fortune 500 companies in India, for more than 25 years.

The company operates a fleet of more than 9,000 economy to luxury cars, mini vans and luxury coaches which consists of various categories such as luxury vehicles (including vehicles from automobile brands such as Audi, BMW and Mercedes-Benz), economy vehicles, premium vehicles and buses/ vans. It also provides specialty vehicles such as luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities.

The company also provides services to its customers operating in a range of industries including information technology, business process outsourcing, global capability centres (GCCs), consultancy, healthcare, e-commerce, pharmaceutical, legal and manufacturing including HCL Corporation Private Limited, HDFC Life Insurance Limited, Thomas Cook, India, WM Global Technology Services India Private Limited (Walmart Global Tech), VRB Consumer Products Private Limited, Pinkerton Corporate Risk Management Private Limited, MedGenome Labs Limited, Dreamfolks Services Limited, Mercer Consulting, FNF India Private Limited (Fidelity),  exl Service.com (India) Private Limited and VA Tech Wabag Limited.

Equirus Capital Private Limited and IIFL Securities Limited are the Book Running Lead Managers to the issue.

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