Ecos Mobility IPO ends today, Check out GMP, allotment date and other details

Ecos Mobility IPO: The subscription for the initial public offering (IPO) of Ecos Mobility & Hospitality Limited is ending on Friday, August 30 after the IPO hit the primary market on August 28th. The issue worth Rs 602.20 crore has been able to garner a strong response from investors as the retail investor category has been oversubscribed by more than 8.8 per cent as of 02:07 pm on Friday. 

ECOS Mobility has set the IPO price band at Rs 318 to Rs 334 per equity share, with the book-built issue planned for listing on both the BSE and NSE. The company aims to raise Rs 601.20 crore through an Offer for Sale (OFS). After two days of bidding, the IPO has garnered a strong response from investors, according to the subscription status.

A strong Grey Market Premium (GMP) typically reflects positive demand and investor confidence, suggesting favourable market sentiment ahead of a stock’s official listing. If the current GMP trend continues, ECOS Mobility shares could achieve significant listing gains, with potential returns of around 42 per cent post-listing. 

The Grey Market Premium (GMP) for the ECOS Mobility IPO currently stands at Rs 155, which is Rs 6 lower than Thursday's GMP of Rs 161. Despite this slight dip, market analysts remain optimistic, citing bullish sentiments in the secondary market and a strong response from primary market investors. Therefore, the positive outlook for the ECOS Mobility IPO is expected to persist.

After the closure of the three-day IPO subscription window, the allotment for Ecos Mobility IPO is scheduled for Monday, September 2, 2024. However, the shares of the company are expected to be transferred to demat accounts by Tuesday, September 3, 2024. The company is set to make its BSE and NSE debut on September 4, 2024.