Business: The IPO of car rental service providing company Eco Mobility (ECOS India Mobility & Hospitality Limited) has made investors earn money even in a fragmented market. While on one hand the market is witnessing a huge sell-off, on the other hand, Eco Mobility shares have managed to make 17 per cent profit to its IPO investors.

IPO investors earned this much

Eco Mobility's shares were listed on the stock market on Wednesday after the IPO launched last week. The company's shares were listed on the BSE at Rs 391.30 with a premium of Rs 57.30 or 17.16 percent. In the IPO, the company had fixed the price band of the shares from Rs 318 to Rs 334. One lot of the IPO included 44 shares. That means investors had to invest at least Rs 14,696. After listing, the value of one lot has increased to Rs 17,217.20. That means the IPO investors have earned Rs 2,521.20 on each lot.

Eco Mobility does this business

This company was founded in 1996. The company provides car rental services. The company's main business is that of chauffeured car rental and employee transportation services. Its clients include many Fortune 500 companies. The company has a presence in 21 states and 4 union territories of the country through its vehicles and vendors and is doing business in 109 cities. The company also offers self-driven cars in cities like Delhi, Gurugram, Mumbai and Bengaluru.

This is how the IPO got response

Eco Mobility's IPO opened on August 28 and closed on August 30. The size of the IPO was Rs 601.20 crore, of which the entire portion was an offer for sale. The IPO was subscribed 136.85 times in the QIB category, 71.17 times in the NII category and 19.66 times in the retail category. The overall IPO was subscribed 64.18 times.

The market was a victim of selling today

Today the IPO has been listed at a time when there is a huge sell-off in the domestic stock market. In the morning, the BSE Sensex started trading with a loss of more than 700 points. At 10 am, the Sensex was trading near 82,090 points with a loss of more than 460 points.