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Eco Mobility India, operating under Ecos (India) Mobility & Hospitality Limited, the leading provider of chauffeur-driven mobility solutions to corporate clients in India, has made a significant move by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) of up to 18,000,000 Equity Shares.
The Company, renowned for being the largest and most profitable provider of chauffeur-driven mobility services to corporates in India, based on its revenue from operations and profit after tax for Fiscal 2023 as per a report by F&S, is set to offer Equity Shares with a Face Value of INR 2 each.
The Promoters of Ecos (India) Mobility & Hospitality Limited include Rajesh Loomba, Aditya Loomba, Rajesh Loomba Family Trust, and Aditya Loomba Family Trust.
The IPO consists of an Offer for Sale (OFS) of up to 18,000,000 Equity Shares, with up to 9,900,000 Equity Shares offered by Rajesh Loomba and up to 8,100,000 Equity Shares offered by Aditya Loomba as Selling Shareholders.
Ecos (India) Mobility & Hospitality said it has has a distinguished track record of providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate clients, including Fortune 500 companies in India, for over 25 years.
With an illustrious career spanning over 28 years in industries like automobile, telecom, and aviation, Dharmani brings a wealth of experience to his new role, having previously served as the Commercial Head for AirAsia Berhad in India. Effective from April 2024, Manoj Dharmani will take charge of overseeing all facets of DUDigital Global’s operations, including business development, product innovation, and client relationships.
The Company’s fleet comprises more than 9,000 vehicles ranging from economy to luxury cars, mini vans, and luxury coaches, including vehicles from renowned brands like Audi, BMW, and Mercedes-Benz. Additionally, it offers specialty vehicles such as limousines, vintage cars, and accessible transportation for individuals with disabilities.The Company’s clientele spans across various industries such as information technology, business process outsourcing, consultancy, healthcare, e-commerce, pharmaceuticals, and manufacturing. Notable clients include HCL Corporation Private Limited, HDFC Life Insurance Limited, Thomas Cook India, Walmart Global Tech, and VA Tech Wabag Limited, among others.
Equirus Capital Private Limited and IIFL Securities Limited are appointed as the Book Running Lead Managers to the issue.
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