E to E Transportation Infrastructure IPO will open for subscription on December 26, 2025 and will close on December 30, 2025. This is a Book Build Issue through which the company plans to raise around ₹84.22 crore. The issue consists entirely of a fresh issue of ₹84.22 crore, while the offer for sale component is nil. Each equity share has a face value of ₹10.
The E to E Transportation Infrastructure IPO price band has been fixed at ₹164 to ₹174 per share. The IPO will be listed on the NSE SME platform, with allotment expected to be finalised on December 31, 2025. The tentative listing date is January 2, 2026.
On the financial front, the company has delivered consistent growth. Revenue increased to ₹253.82 crore in FY2025 from ₹172.50 crore in FY2024, while profit rose to ₹13.99 crore from ₹10.26 crore. Based on its improving scale of operations and steady profitability, long-term investors may consider evaluating this IPO.
Contents
- E to E Transportation Infrastructure IPO Details
- E to E Transportation IPO
- E to E Transportation IPO GMP Today
- E to E Transportation IPO GMP
- E to E Transportation Infrastructure IPO Review
- About E to E Transportation Infrastructure Company
- Company Address
- E to E Transportation Infrastructure IPO FAQs
- Expert Comment
E to E Transportation Infrastructure IPO Details
| Details | Information |
|---|---|
| IPO Open Date | December 26, 2025 |
| IPO Close Date | December 30, 2025 |
| Face Value | ₹10 per equity share |
| Price Band | ₹164 to ₹174 per share |
| Issue Size | Approx ₹84.22 crore |
| Fresh Issue | Approx ₹84.22 crore |
| Offer for Sale | Nil |
| Issue Type | Book Build Issue |
| Listing | NSE SME |
| DRHP | View PDF |
| RHP | View PDF |
E to E Transportation IPO
Open: 26-30 Dec
Issue Size: ₹84.22 Cr.
Objective: Meet working capital needs and general corporate purposes.
Exchange: NSE SME
E to E Transportation IPO GMP Today
E to E Transportation Infrastructure SME IPO GMP is showing strong momentum in the grey market, reflecting high listing expectations. As per the latest trend, the GMP stands at ₹143 on 30 December 2025, indicating an estimated listing price of around ₹304 against the upper price band of ₹174.
This suggests a potential upside of nearly 74.71% per share. Over the last seven sessions, the GMP has steadily moved upward from ₹65 to ₹130, highlighting rising demand among market participants.
The consistent increase in GMP levels points to strong investor interest and positive sentiment ahead of listing. While grey market trends remain unofficial, the current GMP range signals expectations of a robust debut.
E to E Transportation Infrastructure SME IPO Day-wise GMP Trend:
| Date | GMP | Estimated Listing Price | Expected Gain |
|---|---|---|---|
| 30-Dec-2025 | ₹143 | ₹317 | 82.18% |
| 29-Dec-2025 | ₹143 | ₹317 | 82.18% |
| 28-Dec-2025 | ₹145 | ₹319 | 83.33% |
| 27-Dec-2025 | ₹145 | ₹319 | 83.33% |
| 26-Dec-2025 | ₹145 | ₹319 | 83.33% |
| 25-Dec-2025 | ₹130 | ₹304 | 74.71% |
| 24-Dec-2025 | ₹130 | ₹304 | 74.71% |
| 23-Dec-2025 | ₹125 | ₹299 | 71.84% |
| 22-Dec-2025 | ₹100 | ₹274 | 57.47% |
| 21-Dec-2025 | ₹75 | ₹249 | 43.10% |
| 20-Dec-2025 | ₹75 | ₹249 | 43.10% |
| 19-Dec-2025 | ₹65 | ₹239 | 37.36% |
The table clearly shows a sustained upward trend in GMP over recent sessions, reinforcing expectations of a strong listing performance.
Disclaimer: IPO GMP, Kostak, and Subject to Sauda (Sub2) rates are unofficial and shared for informational purposes only. We do not trade or recommend participation in the grey market. GMP is not a guarantee of listing performance. Investors should apply after reviewing the company’s fundamentals and official offer documents.
E to E Transportation Infrastructure IPO Review
E to E Transportation Infrastructure operates in the specialised railway engineering and system integration segment. The company has shown steady revenue growth along with improving profits over the last three financial years.
While margins remain moderate, the order execution capability and diversified project portfolio support business stability. The IPO may be suitable for long-term investors who are comfortable with SME listings and infrastructure sector risks.
E to E Transportation Infrastructure IPO Market Lot
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 1,600 | ₹2,78,400 |
| Retail Maximum | 2 | 1,600 | ₹2,78,400 |
| S-HNI Minimum | 3 | 2,400 | ₹4,17,600 |
| S-HNI Maximum | 7 | 5,600 | ₹9,74,400 |
| B-HNI Minimum | 8 | 6,400 | ₹11,13,600 |
IPO Reservation
| Investor Category | Shares Offered | % Shares |
|---|---|---|
| Anchor Investor | 13,77,600 Shares | 28.46% |
| QIB (Ex-Anchor) | 9,19,200 Shares | 18.99% |
| NII Shares Offered | 6,89,600 Shares | 14.25% |
| Retail Shares Offered | 16,09,600 Shares | 33.26% |
- Also Read: Bai Kakaji Polymers IPO (23-26 Dec)
E to E Transportation Infrastructure IPO Anchor Investors
| Details | Information |
|---|---|
| Anchor Bidding Date | December 24, 2025 |
| Anchor Investors List | View PDF |
| Shares Offered | 13,77,600 Shares |
| Anchor Size | To be announced |
| Lock-in (30 Days) | January 30, 2026 |
| Lock-in (90 Days) | March 31, 2026 |
E to E Transportation Infrastructure IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | December 26, 2025 |
| IPO Close Date | December 30, 2025 |
| Basis of Allotment | December 31, 2025 |
| Refunds | January 1, 2026 |
| Credit to Demat | January 1, 2026 |
| Listing Date | January 2, 2026 |
| Cut-off Time | December 30, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Zephyr Mantra LLC, Ventureast ETOE LLP, and Mr. Sourajit Mukherjee.
| Particulars | Shares | % Share |
|---|---|---|
| Promoter Holding Pre-Issue | 1,24,17,570 | 45.19% |
| Promoter Holding Post-Issue | 1,72,57,570 | 32.51% |
Objects of the Issue
The net proceeds from the IPO will be primarily used to meet the company’s working capital requirements amounting to ₹70.00 crore. The remaining funds will be utilised for general corporate purposes, supporting operational needs and future business expansion.
About E to E Transportation Infrastructure Company
E to E Transportation Infrastructure Limited was incorporated in 2010 and provides engineering and system integration solutions for the railway sector. The company operates across multiple verticals including signaling and telecommunications, overhead electrification, track projects, private sidings, and system integration.
The company offers end-to-end services covering design, procurement, installation, testing, and commissioning of railway infrastructure projects. Its clientele includes Indian Railways, public sector units, private sidings, and infrastructure companies across India. As of July 31, 2025, the company employed around 425 people.
Key projects executed by the company include platform screen door installations for Mumbai Metro Line 3 and Chennai Metro Phase 1, CBTC signaling systems for Hyderabad and Nagpur Metro, signaling upgrades for Vizag Steel Plant and NUPPL Power Plant, electronic interlocking upgrades on the Hosur–Salem route, and siding expansion at Gujarat Pipavav Port with DFCC connectivity.
E to E Transportation Infrastructure IPO Company Financial Report (₹ in crore)
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | 135.70 | 125.13 | 8.15 | 145.16 |
| 2024 | 172.50 | 158.41 | 10.26 | 200.89 |
| 2025 | 253.82 | 235.33 | 13.99 | 295.44 |
| September 2025 | 112.78 | 122.95 | 7.49 | 310.84 |
E to E Transportation Infrastructure IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | 15.72% |
| ROCE | 15.69% |
| EBITDA Margin | 10.59% |
| PAT Margin | 5.73% |
| Debt to Equity | 0.57 |
| EPS (Basic) | ₹11.58 |
| P/E Ratio | N/A |
| RoNW | 12.39% |
| NAV | ₹93.47 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Texmaco Rail & Engineering Ltd | 6.24 | 22.21 | 8.90% | 70.02 | 5,106.57 Cr |
| KEC International Ltd | 21.80 | 39.50 | 10.67% | 200.88 | 21,846.70 Cr |
| Ircon International Ltd | 7.73 | 21.59 | 11.50% | 67.26 | 10,759.58 Cr |
IPO Lead Managers
Hem Securities Ltd.
Company Address
| Particular | Details |
|---|---|
| Company Name | E to E Transportation Infrastructure Limited |
| Address | 10th Floor, Sattva Galleria, Survey Nos. 19/2 and 20/1, Bellary Road, Byatarayanapura, Bangalore North, Bangalore – 560092, Karnataka |
| Phone | – |
| srilakshmi.surendran@etoerail.com | |
| Website | https://etoerail.com/ |
IPO Registrar
| Particular | Details |
|---|---|
| Registrar | MUFG Intime India Pvt. Ltd. |
| Phone | +91-22-4918 6270 |
| etoetransportation.smeipo@in.mpms.mufg.com | |
| Website | https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
E to E Transportation Infrastructure IPO FAQs
What is E to E Transportation Infrastructure IPO?
E to E Transportation Infrastructure IPO is an SME IPO through which the company aims to raise ₹84.22 crore. The price band is ₹164 to ₹174 per share, and the IPO will be listed on NSE SME.
When will the IPO open?
The IPO will open on December 26, 2025 and close on December 30, 2025.
What is the investors’ quota?
QIB: 50%
NII: 15%
Retail: 35%
How can I apply for the IPO?
You can apply through ASBA via banks or UPI through stockbrokers. Offline applications through brokers are also available.
What is the issue size?
The issue size is ₹84.22 crore.
What is the lot size?
The minimum bid is 1,600 shares with an application amount of ₹2,78,400.
What is the allotment date?
The allotment is expected on December 31, 2025
What is the listing date?
The IPO is expected to list on January 2, 2026 on NSE SME.
Expert Comment
E to E Transportation Infrastructure has built a steady presence in the railway engineering and system integration space, supported by consistent revenue growth and manageable leverage.
While margins are relatively modest, the company’s diversified project base and execution track record add stability. Long-term investors with an understanding of SME and infrastructure sector risks may consider this IPO.
