Nevertheless, the itemizing was barely decrease than anticipated because the inventory’s grey market premium (GMP) was 48% greater than the pre-listing subject worth.
Ecological mobileThe IPO acquired an enthusiastic response, with a subscription a number of of 64 occasions, primarily pushed by non-institutional traders.
“Whereas the itemizing is encouraging, traders ought to stay cautious as the corporate’s efficiency has been blended. financial performance,” clarify Shivani buffalowealth govt, Swastika Investment Market.
“Based mostly on price-to-earnings ratios, the IPO seems to be valued at the next stage, which can end in comparatively modest itemizing good points in comparison with the pre-IPO hype. Moreover, the corporate’s standing as an entire supply on the market means it won’t obtain IPO proceeds. Any new funding that is available in could restrict its potential to speed up development or reply to challenges. Listing debut It is a optimistic signal, however blended monetary efficiency and rising valuations warrant warning. Those that wish to maintain on to the corporate can preserve their cease loss round 350. For over 25 years, ECOS Mobility has been offering chauffeured automobile rental and worker transportation companies to company purchasers, together with Fortune 500 corporations in India.
The corporate operates a fleet of greater than 9,000 economic system to luxurious sedans, minivans and luxurious buses, together with luxurious automobiles (together with automobiles from Audi, BMW, Mercedes-Benz and different automobile manufacturers), economic system vehicles, premium automobiles and buses/vans.
It additionally affords particular automobiles reminiscent of baggage carts, limousines, traditional vehicles and handicapped accessible transportation automobiles.
The corporate serves purchasers throughout numerous industries together with IT, BPO, International Competency Facilities (GCCs), consulting, healthcare, e-commerce, prescription drugs, authorized and manufacturing, together with HCL Corp, HDFC Life, thomas cookIndia, WM International Tech, and so on.
In fiscal 2024, the corporate’s working earnings elevated 31% year-on-year to five.54 billion rupees, whereas revenue after tax (PAT) elevated 43% to 625 million rupees throughout the identical interval.
(Disclaimer: The options, recommendation, views and opinions given by consultants are their very own. The above doesn’t signify the views of The Financial Occasions)
