ECO Mobility earned approval from SEBI for its public offer. So at that point, the Initial public offering is a book-built issue of Rs 601.20 crores and an offer for sale of 1.8 crore equity shares. The ECO Mobility IPO opens for subscription on August 28 and will close on August 30. This being the first public issue of ECO Mobility’s firm.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges. The Company has received in-principle approvals from BSE and NSE for a listing of the Equity Shares.
The price band of the issue set at Rs. 318 to Rs. 334 per share. Furthermore, the minimum lot size for an application fixed at 44 shares with a minimum investment of Rs. 14,696.
| IPO Date | August 28, 2024 to August 30, 2024 |
| Listing Date | September 4, 2024 |
| Face Value | Rs. 2 per share |
| Price Band | Rs. 318 to rs. 334 per share |
| Lot Size | 44 Shares |
| Total Issue Size | 18,000,000 shares (aggregating up to Rs. 601.20 Cr) |
| Offer for Sale | Share holding pre-issue |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding post issue | 60,000,000 |
| Share holding post issue | 60,000,000 |
ECO Mobility IPO Timeline:
According to the source, the allotment of shares will be initiated on 2nd September. However, the nonallotted investor amount will be refunded on 3rd September. Moreover, the ECO Mobility’s share will be listed on 4th September at BSE and NSE.
| IPO Open Date | Wednesday, August 28, 2024 |
| IPO Close Date | Friday, August 30, 2024 |
| Basis of Allotment | Monday, September 2, 2024 |
| Initiation of Refunds | Tuesday, September 3, 2024 |
| Credit of Shares to Demat | Tuesday, September 3, 2024 |
| Listing Date | Wednesday, September 4, 2024 |
Equirus Capital Private Limited and IIFL Securities Limited are the lead managers of the issue.
Eco Mobility has been acknowledged for its innovative approach and dedication to sustainability. The company’s products have received positive reviews for their efficiency, reliability, and eco-friendliness. As the demand for green transportation solutions grows, Eco Mobility is well-positioned to capitalize on these trends and continue its trajectory of growth and innovation.
About Company:
Eco Mobility, a pioneer in eco-friendly transportation solutions, specializes in producing and promoting sustainable vehicles and related technologies. The company focuses on electric and hybrid vehicles, infrastructure for renewable energy integration, and advanced battery technologies. Incorporated in 1996, Eco Mobility has positioned itself as a leader in the green transportation sector, aiming to reduce carbon emissions and contribute to a more sustainable future. d offers chauffeur-driven automobile rental services. The company’s primary businesses are employee transportation services (ETS) and chauffeured vehicle rentals (CCR).
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