About the Company:
ECOS India Mobility and Hospitality Ltd is 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
Company is primarily engaged in the business of providing chauffeured car rentals (“CCR”) and employee transportation services (“ETS”) and have been providing these services to corporate customers, including Fortune 500 companies in India, for more than 25 years.
In Fiscal 2024, Company provided CCR and ETS to 42 Fortune 500 companies and 60 BSE 500 companies, among others, in India.
The CCR segment is a B2B2C business, where our customers are corporate companies, and the end consumer is an employee, client, guest or visitor of these corporate companies. Through our ETS segment, we offer customers with solutions to manage their employee home-office-home ground transportation.
As of March 31, 2024, Company has a pan-India presence in 109 cities through our own vehicles and vendors, spread across 21 states and four union territories in India which underscores our deep rooted and extensive footprint and demonstrates our penetration into diverse regions across India.
In Fiscal 2024, Company serviced the CCR and ETS requirements of more than 1,100 organisations in India. In Fiscal 2024, through our CCR and ETS segments, we have completed more than 3,100,000 trips averaging at more than 8,400 trips in a day.
Company also addresses the global car rental requirements of our corporate customers, through our global network of vendors with our capability of providing CCR services in over 30 countries.
Company also provides cars of self-drive basis in the cities of Delhi, Gurugram, Mumbai and Bengaluru and have also provided self-drive cars outside India through vendors.
In the financial year ended Fiscal 2024, Fiscal 2023 and Fiscal 2022 Company provided ETS and CCR services to 773, 756 and 579 corporate customers, respectively.
Company’s Vehicle Fleet:
Company Owned fleet:
Company’s Revenue from various Business Verticals:
Company’s Customers:
| InterGlobe Aviation Ltd (Indigo) | HCL Corporation Pvt Ltd | Safexpress Pvt Ltd | Deloitte Consulting India Pvt Ltd |
| IndusInd Bank Limited | HDFC Life Insurance Company Ltd | Thomas Cook, India, | Dreamfolks Services Ltd |
| Gujarat Guardian Ltd | VA Tech Wabag Ltd | Grant Thornton Bharat LLP | Foresight Group Services Ltd |
Management Team:
- Mr. Rajesh Loomba (Designation: Chairman and Managing Director)
- Mr. Aditya Loomba (Designation: Joint Managing Director)
Objectives of the Issue:
Offer For Sale: (Rs.601.2 cr)
- Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will be entitled to their respective portion of proceeds of the Offer for Sale.
Positives for the Company:
India’s largest and most profitable chauffeur driven mobility provider in a chauffeur driven mobility provider market.
- Company is 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 .
- Company is primarily engaged in the business of providing CCR and ETS and have been providing these services to corporate customers, including Fortune 500 and BSE 500 companies in India, for more than 25 years.
Significant Growth in Corporate Mobility Market.
- The corporate mobility market (which includes both ETS and CCR) has experienced significant growth in recent years in India, primarily due to the expanded presence of multinational corporations (“MNCs”), Indian corporates, small and medium enterprises (“SMEs”) and high net worth individuals (“HNIs”) who prefer to hire cars for official trips rather owning cars and keeping drivers in the company.
- Company’s increasing revenue from operations and our increasing PAT margins, combined with our low marketing expense, low capital expenditure positions us to be 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.
Pan-India presence with operations in 109 cities in India.
- As of March 31, 2024, Company’s CCR services are offered to our customers through vendors operating out of 109 cities in India.
- The number of Indian cities where we provided our CCR services has grown from 89 in Fiscal 2021 to 94 in Fiscal 2024. Company’s offices are strategically based out of the cities of Bengaluru, Gurugram, Mumbai, Hyderabad, New Delhi, Pune, Noida, Chennai, Kolkata, Ahmedabad, Jaipur, Coimbatore, Rohtak and Lucknow.
Financials of the Company:
| (in Crores) | FY 22 | FY 23 | FY 24 |
|---|---|---|---|
| Revenue | 151.5 | 425.4 | 568.2 |
| Net Profit | 9.8 | 43.5 | 62.5 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Ecos (India) Mobility & Hospitality Limited | 2 | 10.42 | 32.05 | 42.75% | 29.57 |
| Wise Travel India Ltd | 10 | 12.79 | 20.82 | 15.62% | 89.52 |
| Shree OSFM E-Mobility Ltd | 10 | 7.02 | 23.73 | 1%5.24 | 58.64 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 28th August 2024 |
| Issue Closes on | 30th August 2024 |
| Issue Price | Rs.318 – 334 |
| Face Value | Rs.2 |
| Retail Category Allocation | 35 % |
| Minimum Lot | 44 Shares |
| Minimum Investment | Rs.14,696 |
| Issue Constitutes | 30 % |
| Issue Size | Rs.601.2 cr ($ 72 million) |
| Market Cap | Rs.2004 cr ($ 240 million) |
| Listing at | NSE & BSE |
| Total Equity Shares Offered (OFS) | 1,80,00,000 |
| Equity Shares Prior to the Issue | 6,00,00,000 |
| Equity Shares after the Issue | 6,00,00,000 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt Equity Ratio (D/E) |
|---|---|---|---|---|
| 10.42 | 32.05 | 42.75% | 29.57 | 0.12 |
Also Read: Complete List of NSE/BSE Holidays List>>
Important Dates:
| Finalization of Basis of Allotment | on or Before 2nd September 2024 |
| Initiation of Refunds | on or Before 3rd September 2024 |
| Credit of Equity Shares: | on or Before 3rd September 2024 |
| Listing Date: | on or Before 4th September 2024 |
| Company Contact Info: |
|---|
| ECOS India Mobility and Hospitality Ltd 45, First Floor, Corner Market, Malviya Nagar, New Delhi-110017 Tel: +91 11 41326436 E-mail: legal@ecorentacar.com; Website: www.ecosmobility.com |
| Registrar to the Issue: |
|---|
| Link Intime India Private Limited C 101, 1st Floor, 247 Park Lal Bahadur Shastri Marg, Vikhroli (West) Maharashtra, India 400083 Tel: +91 81081 14949 E-mail: ecorentacar.ipo@linkintime.co.in Website: www.linkintime.co.in |
