E to E Transportation Infrastructure IPO
Bookbuilding IPO | ₹84.00 Cr | Listing at NSE SME
Closed
GMP: 0.00
IPO Open
Fri, Dec 26, 2025
IPO Close
Tue, Dec 30, 2025
Price Band
₹164.00 to ₹174.00
Market Cap (Pre-IPO)
₹300.28 Cr
IPO Details
| IPO Date | Dec 26, 2025 to Dec 30, 2025 |
| Listing Date | Tentative: Jan 02, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹164.00 to ₹174.00 |
| Lot Size | 800 Shares (Minimum: ₹139,200.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Issue Size | ₹84.00 Crores |
| Total Shares Offered | 4,840,000 shares |
| Offer For Sale | 4,840,000 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 236.30x |
| NII | 872.09x |
| RII | 0.00x |
| Total | 526.56x |
E to E Transportation Infrastructure IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 22,96,800 (47.45%) |
| Retail Shares Offered | 16,09,600 (33.26%) |
| NII Shares Offered | 6,89,600 (14.25%) |
E to E Transportation Infrastructure IPO Lot Size
Investors can bid for a minimum of 1,600 shares and in multiples of 800 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹278,400 |
| Retail (Max) | 2 | 1,600 | ₹278,400 |
| S-HNI (Min) | 3 | 2,400 | ₹417,600 |
| S-HNI (Max) | 7 | 5,600 | ₹974,400 |
| B-HNI (Min) | 8 | 6,400 | ₹1,113,600 |
E to E Transportation Infrastructure Financial Information (Restated Consolidated)
E to E Transportation Infrastructure Ltd.'s revenue increased by 47% and profit after tax (PAT) rose by 36% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Sep 202 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 310.84 | 295.44 | 200.89 | 145.16 |
| Total Income | 112.78 | 253.82 | 172.50 | 135.70 |
| Profit After Tax | -7.49 | 13.99 | 10.26 | 8.15 |
| EBITDA | -3.88 | 26.57 | 18.34 | 13.28 |
| NET Worth | 108.70 | 116.05 | 66.86 | 57.15 |
| Reserves and Surplus | 96.28 | 115.68 | 66.67 | 56.95 |
| Total Borrowing | 113.51 | 66.18 | 61.18 | 43.11 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 15.72% |
| ROCE (Return on Capital Employed) | 15.69% |
| Debt/Equity | 0.57 |
| RoNW (Return on Net Worth) | 12.39% |
| PAT Margin (Profit After Tax Margin) | 5.73% |
| EBITDA Margin | 10.59% |
| Price to Book Value | 1.86 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 11.27 | 0.00 |
| P/E (x) | 15.44 | 0.00 |
| Promoter Holding | 45.19% | 32.51% |
Company Promoters
- Zephyr Mantra LLC
- Ventureast ETOE LLP
- Sourajit Mukherjee and Vinay Kunjuri Panduranga Rao are the company promoters.
Company Overview
Company Overview
- Established in 2010, E To E Transportation Infrastructure Limited is an ISO 9001:2015 certified railway infrastructure company in India.
- The company specializes in system integration and engineering solutions for the railway and metro sector.
- Operates across mainline railways, metro & urban transit systems, and private rail sidings.
- Provides end-to-end railway EPC services, including design, engineering, procurement, installation, testing, and commissioning.
Service Offerings
- Signaling & Telecommunications (S&T) systems
- Overhead Electrification (OHE) projects
- Track projects and system integration
- Private railway sidings development
- Engineering Design and Research Centre (EDRC)
Key Projects & Experience
- CBTC signaling projects for Hyderabad Metro and Nagpur Metro
- Mumbai Metro Line 3 and Chennai Metro Phase 1 platform screen door installations
- Railway signaling and telecom modernization for Vizag Steel Plant and NUPPL Power Plant
- Electronic interlocking system upgrades on Hosur–Salem railway section
- Private siding expansion for Gujarat Pipavav Port with DFCC connectivity
Order Book & Workforce
- As of September 30, 2025, the company had 50 ongoing railway infrastructure contracts
- Total order book value: ₹401.10 crore
- As of November 30, 2025, the company employed 353 full-time professionals
Company Strengths
- Capability across different stages of Project Execution
- Strong and diversified Order Book
- Experienced Board and Key Managerial Personnel and skillfully trained workforce
- Diverse categories of projects with an asset light model
- Established financial track record
Use of Proceeds
| 1) | To meet working capital requirements | 70.00 |
| 2) | General Corporate Purpose | 4.13 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
E to E Transportation Infrastructure IPO Peer Comparison
E to E Transportation Infrastructure peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| E to E Transportation Infrastructure | 11.58 | 11.58 | 93.47 | 0.00 | 12.39 | 0.00 | - |
| Texmaco Rail & Engineering | 6.24 | 6.21 | 70.02 | 22.21 | 8.90 | 1.49 | - |
| KEC International | 21.80 | 21.80 | 200.88 | 39.50 | 10.67 | 3.52 | - |
| Ircon international | 7.73 | 7.73 | 67.26 | 21.59 | 11.50 | 2.28 | - |
Quick Info
| Sector | Capital Goods-Non Electrical Equipment |
| Exchange | NSE SME |
| Market Cap (Pre-IPO) | ₹300.28 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Dec 26, 2025 |
| IPO Close | Dec 30, 2025 |
| Allotment Date | Dec 31, 2025 |
| Credit to Demat | Jan 01, 2026 |
| Listing Date | Tentative: Jan 02, 2026 |
Lead Manager(s)
Hem Securities Ltd.
Registrar
Description
- E to E Transportation Infrastructure IPO is a book-built SME IPO in India with a total issue size of ₹84.22 crore, entirely a fresh issue of 0.48 crore equity shares. The IPO opened on December 26, 2025 and closed on December 30, 2025, while the IPO allotment was finalized on December 31, 2025. The company’s shares were listed on NSE SME on January 2, 2026.
- The E to E Transportation Infrastructure IPO price is fixed at ₹174 per share, with an IPO lot size of 800 shares. The minimum retail investment stood at ₹2,78,400 for 1,600 shares, whereas HNI investors had to apply for 2,400 shares worth ₹4,17,600.