Ecos India IPO oversubscribed 47 times so far

30 Aug 2024 , 03:17 PM

ECOS (India) Mobility & Hospitality’s initial public offering (IPO) received a positive response from investors on the third and final day of the bidding process, with institutional bidders joining the party. The issue was booked little more than 3.4 times on the first day of bidding, while day two saw almost 9.5 times bidding.

ECOS (India) Mobility & Hospitality is selling its shares at a price range of Rs 318-334 per. Investors can apply for a minimum of 44 shares and multiples thereof. It intends to generate Rs 601.20 crore through an initial public offering (IPO), which will consist entirely of an offer to sell up to 1.80 crore equity shares.

According to the data, investors bid for 55,35,58,896 equity shares, or 47.04 times, compared to the 1,26,00,000 equity shares offered for subscription at 3:13 p.m. on Friday, August 29. The three-day auction for the issue, which began on Wednesday, August 28, ends today.

The allocation for non-institutional investors (NIIs) was subscribed 65.26 times, while the part earmarked for regular investors was oversubscribed 17.83 times. However, the quota reserved for qualified institutional bidders (QIBs) was subscribed 84.48 times at the same time.

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