ECOS Mobility IPO subscribed 3.41 times on the first day: 3.93 times subscribed in retail category, today is the second day of bidding

Today is the second day of bidding for the Initial Public Offering (IPO) of ECOS Mobility and Hospitality Limited. On the first day, ECOS Mobility’s IPO has been subscribed a total of 3.41 times. The IPO was subscribed 3.93 times in the retail category, 0.04 times in Qualified Institutional Buyers (QIB) and 6.70 times in the Non-Institutional Investors (NII) category. August 30, i.e. tomorrow, is the last day of bidding for the IPO. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 4. ECOS Mobility and Hospitality wants to raise a total of ? 601.20 crore through this issue. For this, the existing investors of the company are selling 18,000,000 shares worth a total of ? 601.20 crore through the offer for sale. Not a single fresh share is being issued for this IPO. If you are also planning to invest in it, then we are telling you how much you can invest in it. What is the minimum and maximum amount you can invest?
ECOS Mobility and Hospitality has fixed the price band of this issue as ?318-?334. Retail investors can bid for a minimum of one lot i.e. 44 shares. If you apply for 1 lot as per the upper price band of the IPO of ?334, then you will have to invest ?14,696 for it. At the same time, retail investors can apply for a maximum of 13 lots i.e. 572 shares. For this, investors will have to invest ?191,048 as per the upper price band. 35% of the issue reserved for retail investors
The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). Premium of Premier Energies in the gray market is 47.9%
Before listing, the company’s stock has reached a premium of 47.9% i.e. ? 160 per share in the gray market. In such a situation, according to the upper price band ? 334, its listing can be done at ? 494. However, it can only be guessed from this, the price of listing of shares is different from the price of the gray market. The company works to provide employee transport service
ECOS Mobility and Hospitality Limited works to rent cars to corporate customers and provide employee transport services. With an experience of over 25 years, the company operates in more than 100 cities of the country. What is an IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings an IPO.