Ecos Mobility Raises Rs 180 Crore From Anchor Investors
The company will launch its initial public offering on Wednesday to raise up to Rs 601.2 crore.
Ecos (India) Mobility & Hospitality Ltd. has raised Rs 180 crore from anchor investors on Tuesday ahead of its initial public offering. The company allotted 54 lakh shares at Rs 334 apiece to 19 anchor investors.
Optimix Wholesale Global Emerging Markets Share Trust fund got the highest allocation of 11.09%. ICICI Prudential Transportation and Logistics Fund, the Nomura Trust and Banking Co., Aditya Birla Sun Life Trustee, Nippon Life India Trustee, Troo Capital and Acacia Banyan Partners got the second highest allotment of 7.95%.
Bandhan Core Equity Fund, Tata Dividend Fund, Franklin India Multi Cap Fund and Invesco India Small Cap Fund got 5.54% stake in the company.
Ten domestic mutual funds have applied through 15 schemes, Ecos Mobility said in an exchange filing on Tuesday. They have collectively netted 65.06% of the anchor portion. WhiteOak Capital, ICICI Prudential, Nippon Life India Trustee and Aditya Birla Sun Life were among the top fund houses in this category.
Equirus Capital Pvt., and IIFL Securities Ltd. are the lead book running managers, while Link Intime India Pvt. is the registrar for the issue.
The company will launch its initial public offering on Wednesday to raise up to Rs 601.2 crore. It has set a price band of Rs 318–334 per share for its three-day IPO, consisting of an offer for sale of 1.8 crore shares. The minimum application lot size is 44 shares.
The offer, which concludes on Friday, is set to list on the BSE and the National Stock Exchange.
The company will not directly receive any proceeds from the offer and all proceeds will be received by the selling shareholders in proportion to the offered shares sold by the respective selling shareholders as part of the offer.
