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Qualified Institutional Buyers (QIBs) | Non-Institutional Investors (NIIs) | Non-Institutional Bidders (NIBs) |About ECOS India Mobility and Hospitality Limited
ECOS (India) Mobility & Hospitality Limited, a leading provider of chauffeur-driven mobility services to corporates in India, is recognised for its extensive experience and market prominence. The company stands as the largest and most profitable chauffeur-driven mobility provider in terms of revenue from operations and profit after tax for Fiscal 2023, according to the F&S Report. ECOS has been serving corporate clients, including Fortune 500 companies, for over 25 years.
In Fiscal 2024, ECOS offered chauffeured car rentals (CCR) and employee transportation services (ETS) to 42 Fortune 500 and 60 BSE 500 companies in India. The company operates a substantial fleet comprising more than 9,000 vehicles, ranging from economy to luxury cars, mini-vans, and luxury coaches, as well as speciality vehicles like limousines and vintage cars. As of September 30, 2023, ECOS managed 8,898 vehicles through vendors, making up 91.20% of its total fleet, while owning 859 vehicles, accounting for 8.80%.
The company has significantly increased its focus on premium vehicles, with bookings for premium vehicles in the fleet rising from 22,613 (20.96% of CCR bookings) in Fiscal 2021 to 152,819 (33.08%) in Fiscal 2023. ECOS operates with an asset-light model, emphasising more vehicles sourced from vendors over its own.
ECOS's technology integration includes a custom online booking tool for clients, a chauffeur’s mobile app, and RentNet, a backend transport management system for various operational needs. The company provides services in 109 Indian cities, covering 21 states and four union territories, with the capability to provide CCR (chauffeured car rentals) services in over 30 countries through a global network of vendors.
The management team, led by Promoters Rajesh Loomba and Aditya Loomba, brings over 50 years of combined experience in the industry. ECOS has garnered numerous awards, including the National Tourism Award from 2013 to 2017 and the Economic Times Travel & Tourism Annual Awards in November 2023.
Industry Outlook:
- ECOS (India) Mobility and Hospitality Limited can capitalise on the growth of India's GDP per capita, projected at a CAGR of 8.5% between FY2023 and FY2030. This economic growth, coupled with increased corporate R&D investments, will drive demand for mobility and hospitality services as employment across sectors expands.
- The rapid development of Tier 2 and Tier 3 cities, supported by a $1.2 billion Urban Infrastructure Development Fund, presents ECOS with opportunities to extend its services in these emerging markets. The rise in corporate mobility and logistics needs in these cities aligns well with ECOS's expansion plans.
ECOS (India) Mobility and Hospitality Limited IPO Details
ECOS (India) Mobility and Hospitality Limited IPO Dates
It is a book-built IPO and the exact dates are yet to be announced.
ECOS (India) Mobility and Hospitality Limited IPO Price Band
The price band is yet to be announced.
ECOS (India) Mobility and Hospitality Limited IPO Lot Size
The lot size is yet to be announced.
ECOS (India) Mobility and Hospitality Limited IPO Objectives
This Initial Public Offering (IPO) constitutes only an Offer for Sale, wherein proceeds from the IPO will be allocated to the promoters divesting their shares.
Peer Details
The following are the listed peers of ECOS (India) Mobility & Hospitality Limited :
- Wise Travel India Limited
- Shree OSFM EMobility Limited
How to Check the Allotment Status of the ECOS (India) Mobility and Hospitality Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
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Contact Details of ECOS (India) Mobility and Hospitality Limited IPO
- Registered office: 45, First Floor, Corner Market, Malviya Nagar, New Delhi-110017
- Phone: +91 11 41326436
- E-mail:legal@ecorentacar.com
IPO Financials
| Particulars | For the 6-month period ended September 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Total revenue from operations (in ₹ million) | 2,685.13 | 4,226.76 | 1,473.44 | 1,038.08 |
| Profit After Tax (PAT) (in ₹ million) | 304.14 | 435.91 | 98.71 | 29.95 |
| Cash & Cash Equivalents (in ₹ million) | 82.88 | 45.44 | 79.44 | 68.48 |
| Net Worth (in ₹ million) | 1,453.25 | 1,151.25 | 715.64 | 617.94 |
| Debt to Equity Ratio | 0.17 | 0.29 | 0.05 | 0.24 |
| Return on Equity (%) | 23.35% | 46.70% | 14.80% | 4.97% |
| Return on Capital Employed (RoCE) (%) | 24.80% | 40.90% | 19.07% | 9.08% |
| Earning Per Share (EPS)-in absolute ₹ | 5.07 | 7.27 | 1.65 | 0.50 |
Know before investing
Strengths
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ECOS (India) Mobility & Hospitality Limited is a leading chauffeur-driven mobility provider in India, with ₹4,226.76 million in revenue and ₹435.91 million in profit after tax for Fiscal 2023.
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The company operates over 9,000 vehicles across 109 cities, catering to diverse needs with economy cars, premium vehicles, and luxury coaches.
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ECOS serves 42 Fortune 500 and 60 BSE 500 companies, maintaining strong customer relationships that contribute to significant lifetime value. By fostering strong connections with these leading corporations, ECOS ensures a consistent and valuable stream of business.
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With an asset-light model, ECOS showcases a 16.50% EBITDA margin and a 0.29 debt-to-equity ratio, indicating operational efficiency and financial health.
Risks
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ECOS Mobility's reliance on technology means disruptions or failures in their outsourced technology systems could negatively impact operations and customer satisfaction.
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Intense competition in the chauffeur-driven mobility industry may force ECOS to adjust pricing, potentially reducing revenue and profitability.
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Dependence on key customers, particularly in major cities, exposes ECOS to the risks of reduced demand or termination of contracts, affecting financial stability.
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An increase in vehicle prices and fleet costs could strain ECOS's finances, hindering their ability to expand and upgrade their vehicle fleet efficiently.
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ECOS India Mobility and Hospitality IPO FAQs
ECOS (India) Mobility and Hospitality Limited IPO is a 100% book-built offer. The IPO dates are yet to be announced.
The date for the Basis of Allotment is yet to be announced.
The IPO subscription window opening dates are yet to be announced.
The lot size and minimum investment amount for ECOS (India) Mobility and Hospitality Limited’s IPO is yet to be announced.
The listing date for ECOS (India) Mobility and Hospitality is yet to be announced.
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