ECOS (India) Mobility & Hospitality made its debut in the stock market on Tuesday, but the performance was less impressive than expected. The shares were initially expected to perform well, with a grey market premium indicating a potential 37-40% increase. However, the stock only saw a 17% increase, listing at Rs 391.30 on the NSE and Rs 390 on the BSE, which was higher than the issue price of Rs. 334 but still below what many investors had hoped for.
The company's IPO, which ran from August 28-30, offered shares priced between Rs 318-334 each, with a minimum lot size of 44 shares. It raised a total of Rs 601.20 crore through the IPO, which was entirely an offer-for-sale (OFS) of 1.80 crore shares. The IPO was quite popular, being subscribed 64.26 times overall, driven mainly by strong interest from institutional investors who bid 136.85 times the available shares. Non-institutional investors subscribed 71.23 times, while retail investors bid for 19.79 times the shares reserved for them.
"ECOS (India) Mobility's Stock Debut Sees a Modest 17% Jump on First Day,''
Wednesday, September 04, 2024
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