Car rental company is bringing IPO
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Eco India Mobility IPO: If you are also thinking of earning through Initial Public Offering (IPO) in the stock market, then today is a great opportunity for you. Car rental company Eco India Mobility and Hospitality Limited is about to launch its IPO. For this, the company has submitted preliminary documents to the market regulator SEBI. According to the documents submitted by the company, 1.8 crore shares in the IPO will be completely under offer for sale. No new issues have been included in this. The promoters of the company hold 100 percent stake. Rajesh Loomba and Aditya Loomba are currently selling their stake.
Car rental company for 25 years
Eco India Mobility & Hospitality Limited has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate clients for over 25 years. Its fleet has more than 9,000 vehicles ranging from affordable to luxury cars. It also provides limousines and vintage vehicles in addition to special types of vans for the transportation of goods for disabled people.
Also Read: Engineering company is coming up with IPO of Rs 7000 crore, documents submitted with SEBI
How is the company’s profit?
The company had earned huge profits last year. Its net profit has increased by 341.6 percent. Also, the company’s operating revenue increased by 187 percent to Rs 422.7 crore.
What will the company do with the money?
All the shares in IPO are in OFS. In such a situation, the company will not get any share of the earnings from the IPO. This amount will go to the promoters who sold the shares.
What are the details of IPO?
Equirus Capital and IIFL Securities are the merchant bankers to the issue, while Link Intime India is the registrar to the issue.
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