ECOS Mobility IPO was open for subscription on August 28 with closing on August 30. The price band was fixed between Rs 318 and Rs 334 per share.
ECOS Mobility and Hospitality made a positive debut on the stock market on September 4 but failed to witness the expected strong listing. The shares of the company listed at nearly Rs 391 per share, marking a 17 per cent premium over its issue price of Rs 334.
While experts were banking on a stronger debut, especially after last month’s hot listings, the stock’s performance didn’t quite live up to the higher expectations set by the grey market.
On the National Stock Exchange, the shares of the company opened at Rs 390 per share, up by nearly 16.77 per cent. Whereas, the shares opened at Rs 391 apiece on the Bombay Stock Exchange, up by more than 17 per cent from the original issue price.
The IPO was open for subscription on August 28 with closing on August 30. The price band was fixed between Rs 318 and Rs 334 per share. The anchor book, which opened a day earlier on August 27, witnessed strong interest from institutional investors, raising Rs 180.4 crore from 14 participants, which included names like Whiteoak Capital, Aditya Birla Sun Life Trustee, Nomura Trust, ICICI Prudential Mutual Fund, Invesco India, Franklin India, and Motilal Oswal Mutual Fund.
At 12:25, the shares of the company were trading at Rs Rs 446, up by nearly 33 per cent on the National Stock Exchange.
The primary market continues to remain in momentum even as the secondary market experiences volatility.
Another listing that investors are keenly looking forward to is Rekha Jhunjhunwaala-backed Baazar Style Retail IPO which is going to hit Dalal Street on September 6 (Friday).