Eco India Mobility files documents with SEBI for IPO
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According to documents filed on Thursday, the IPO will be entirely based on an offer for sale of 1.8 crore equity shares by the promoters – Rajesh Loomba and Aditya Loomba. This does not include any new shares.
New Delhi. Eko (India) Mobility and Hospitality Ltd has filed preliminary documents with capital markets regulator SEBI to raise funds through an initial public offering (IPO). According to documents filed on Thursday, the IPO will be entirely based on an offer for sale (OFS) of 1.8 crore equity shares by the promoters – Rajesh Loomba and Aditya Loomba. This does not include any new shares.
At present the promoter and promoter group entities hold 100 percent stake in the company. Since it is an OFS, the company will not get any part of the earnings from the IPO and this amount will go to the promoters selling shares. The company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate clients for over 25 years. Its fleet consists of over 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.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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