E to E Transportation Infrastructure Limited
Bookbuilding IPO · NSE
- Price band
- ₹164 - ₹174
- Lot size
- 800 shares
- Issue amount
- ₹84.22 cr
- Total subscription
- 527.76×
- Opens
- 26 Dec 2025
- Closes
- 30 Dec 2025
- Allotment
- 31 Dec 2025
- Listing
- 2 Jan 2026
Offer at a glance
Issue overview
- Issue size
- 48,40,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,31,200
- Fresh issue
- ₹84.22 cr
- Offer for sale
- ₹0 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,39,200
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,24,17,570
- Shares after issue
- 1,72,57,570
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 1,600 | ₹2,78,400 |
| sHNI | 3 | 2,400 | ₹4,17,600 |
| bHNI | 8 | 6,400 | ₹11,13,600 |
Share reservation
Subscription & GMP
Subscription by category
Reported 30 Dec 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,006 | 5,49,617 |
| HNIs(10L +) | 192 | 68,927 |
| HNIs (2-10L) | 96 | 48,894 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 15.99 | 3,779.47 |
| RETAIL | 28.01 | 15,301.34 |
| HNIs 2+ | 4 | 2,254.04 |
| HNIs 10+ | 8 | 8,219.86 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 0 | 0 | 0 | 0 |
| ROE | -6.5 | 15.72 | 15.67 | 14.59 |
| ROCE | -1.23 | 15.69 | 15.68 | 14.21 |
| RONW | -5.88 | 11.58 | 7.88 | 6.3 |
| PRE IPO(PE) | 0 | 15.44 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Ircon international | 19.83 | 153.28 | 2.00 | 67.26 | 11.5 | 7.73 |
| KEC International | 32.37 | 705.60 | 2.00 | 200.88 | 10.67 | 21.80 |
| Texmaco Rail & Engineering | 16.78 | 104.70 | 1.00 | 70.02 | 8.90 | 6.24 |
| E to E Transportation Infrastructure | 45.19 | 0 | 10.00 | 93.47 | 12.39 | 11.58 |
Company information
Company profile
E To E Transportation Infrastructure Limited, incorporated in 2010, is an ISO 9001:2015 certified company providing system integration and engineering solutions for the railway sector across mainline, urban transit, and private siding projects. The company offers end-to-end services including signaling and telecommunications, overhead electrification, track projects, system integration, private sidings, and engineering design, covering design, procurement, installation, and testing. It has executed projects for Indian Railways, public sector undertakings, private rail sidings, and infrastructure developers, with key works including CBTC signaling for Hyderabad and Nagpur Metro, S&T modernization for Vizag Steel Plant and NUPPL Power Plant, interlocking upgrades on the Hosur–Salem section, siding expansion at Gujarat Pipavav Port, and platform screen door installations for Mumbai Metro Line 3 and Chennai Metro Phase 1. As of June 30, 2025, the company had an order book of 49 ongoing contracts valued at ₹43,964.38 lakh, supported by a workforce of 425 full-time employees as of July 31, 2025.
Strengths
- End-to-End Railway Infrastructure Capabilities – Offers integrated services across signaling, electrification, track works, and system integration, enabling complete turnkey railway project delivery.
- Proven Expertise in Complex Rail Projects – Strong execution record with metros, Indian Railways, PSUs, and private sidings highlights technical strength and client confidence.
- Healthy Order Book Supported by Skilled Workforce – A solid pipeline of orders and experienced manpower ensure smooth execution and long-term growth visibility.
Risk factors
- Heavy Reliance on Railway and Metro Projects – Revenue is closely linked to government spending and policy decisions, making the business sensitive to changes in public infrastructure plans.
- Project Execution and Cost Overrun Risks – Delays, labour challenges, or cost escalations during project execution may negatively impact timelines and profit margins.
- Working Capital–Intensive Business Model – Large project sizes and delayed customer payments increase pressure on cash flows and funding requirements.
Promoters
Zephyr Mantra LLC
Ventureast ETOE LLP
Sourajit Mukherjee
Vinay Kunjuri Panduranga Rao
Registrar & documents
Lead manager
Hem Securities Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
10th Floor, Sattva Galleria Survey, Nos. 19/2 and 20/1, Bellary Road, Byatarayanapura, Bangalore North Bangalore Urban, Karnataka, 560092
NA
[email protected]Company website ↗Understanding E2ERAIL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.