Ecos (India) Mobility & Hospitality Limited, the largest and most profitable chauffeur-driven mobility provider to corporates in India, in terms of revenue from operations and profit after tax for fiscal 2023 (source: F&S Report), has filed a Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO) of up to 18,000,000 equity shares of face value of ₹ 2 each.
The promoters of the company are Rajesh Loomba, Aditya Loomba, Rajesh Loomba Family Trust, and Aditya Loomba Family Trust.
The offer comprises an Offer for Sale (OFS) of up to 18,000,000 equity shares (the offered shares), including up to 9,900,000 equity shares by Rajesh Loomba and up to 8,100,000 equity shares by Aditya Loomba.
The company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate customers, including Fortune 500 companies in India, for more than 25 years. The company operates a fleet of more than 9,000 cars, including economy cars, luxury cars, minivans, and luxury coaches. It also provides specialty vehicles such as luggage vans, limousines, vintage cars, and vehicles for people with disabilities.
The company serves customers from a range of industries, including information technology, business process outsourcing, global capability centres (GCCs), consultancy, healthcare, e-commerce, pharmaceutical, legal, and manufacturing, such as HCL Corporation Private Limited, HDFC Life Insurance Limited, Thomas Cook India, WM Global Technology Services India Private Limited (Walmart Global Tech), VRB Consumer Products Private Limited, Pinkerton Corporate Risk Management Private Limited, MedGenome Labs Limited, Dreamfolks Services Limited, Mercer Consulting, FNF India Private Limited (Fidelity), Exl Service.com (India) Private Limited, and VA Tech Wabag Limited.
Equirus Capital Private Limited and IIFL Securities Limited are the book-running lead managers for the issue.
