The E to E Transportation Infrastructure IPO shares have a face value of ₹10. The issue will offer a total of 48,40,000 shares. Investors can begin bidding on December 26, 2025. Bidding stays open till 5PM on December 30, 2025. The shares are going to be priced within the range of ₹164 to ₹174.
Allotment will be done on December 31, 2025. Listing on NSE SME will be done on January 1, 2026. Lot Size is 800 shares. Minimum bid for retail investors is 2 Lots, which amounts to ₹2,78,400. sNII bid will start from ₹4,17,600 for 3 Lots. Investors bidding in the bNII category have to bid for a minimum of 8 Lots at ₹11,13,600.
E to E Transportation Infrastructure IPO Details
The given table presents essential information related to the IPO:
| Particulars | Details |
| Bids Open | December 26, 2025 |
| Bids Close | December 30, 2025 |
| IPO Lot Size | 800 Shares |
| Face value | ₹10 per share |
| Price Band | ₹164 to ₹174 |
| Issue price | – |
| Issue Type | Book-built |
| Fresh issue | 48,40,000 shares (₹84.22 Crore) |
| Offer for sale | |
| Total Issue Size | 48,40,000 shares (₹84.22 Crore) |
| Listing at | NSE SME |
| Minimum Investment | ₹2,78,400 |
E to E Transportation Infrastructure IPO Timeline
The offering is planned around the schedule given below:
| Particulars | Details |
| Bidding Opens | December 26, 2025 |
| Bidding Closes | December 30, 2025 |
| Allotment Scheduled | December 31, 2025 |
| Refunds Start | January 1, 2025 |
| Demat credit of shares | January 1, 2025 |
| Tentative Listing | January 2, 2025 |
| UPI mandate cut-off | 5 PM on December 30, 2025 |
E to E Transportation Infrastructure Key Performance Indicator (KPI)
The issuing company’s KPIs are as follows:
| KPIs | FY 2023 | FY 2024 | FY 2025 |
| ROE (%) | 14.59 | 15.67 | 15.72 |
| ROCE (%) | 14.21 | 15.68 | 15.69 |
| Debt Equity (times) | 0.75 | 0.91 | 0.57 |
| RoNW (%) | 13.60 | 14.53 | 12.39 |
| PAT Margin (%) | 5.77 | 5.71 | 5.73 |
| EBITDA margin (%) | 9.87 | 10.78 | 10.59 |
| Price Book Value | – | – | 1.86 |
E to E Transportation Infrastructure Financials
The following table presents the company’s important financial metrics:
| Particulars (in ₹ lakh) | 2023 | 2024 | 2025 |
| Revenue | 13,569.59 | 17,250.18 | 25,381.63 |
| Total Asset | 14,516.45 | 20,089.37 | 29,543.69 |
| Profit | 814.69 | 1,025.69 | 1399.11 |
Subscription Status of E to E Transportation Infrastructure IPO
The subscription status of the E to E Transportation Infrastructure IPO is outlined below:
| Day | NII | Individual Investor | Total |
| Day 1 | |||
| Day 2 | |||
| Day 3 |
E to E Transportation Infrastructure IPO Grey Market Premium Today
E to E Transportation Infrastructure is quoting a GMP of ₹65, signalling healthy interest before listing. The premium has stayed consistent over the last two days, suggesting steady participation. At this level, the implied listing price is around ₹239, pointing to a positive market sentiment heading into the listing day.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 20-12-2025 | ₹65 | ₹239 | 37.36% | Neutral |
| 19-12-2025 | ₹65 | ₹239 | 37.36% | Increasing |
| 18-12-2025 | – | – | – | – |
Note: The quoted GMP numbers reflect unofficial trading activity and can fluctuate with investor demand, subscription response, and prevailing market sentiment.
E to E Transportation Infrastructure IPO Reservation
The allocation of shares among different investor segments is as follows:
| Investor Category | Reservation |
| Market Maker Shares Offered | 2,44,000 (5.04%) |
| QIB Shares | 22,96,800 (47.45%) |
| NII (HNI) Shares | 6,89,600 (14.25%) |
| Retail Shares | 16,09,600 (33.26%) |
| Total Shares | 48,40,000 (100.00%) |
E to E Transportation Infrastructure IPO Lot Size
Investors may apply in accordance with the given lot sizes :
| Investor Type | Lots | Shares | Amount |
| Individual Investors – Retail (Minimum) | 2 | 1,600 | ₹2,78,400 |
| Individual Investors – 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 |
Details of E to E Transportation Infrastructure IPO Anchor Investors
Details regarding anchor investor participation are mentioned in the following table:
| Particulars | Details |
| Bidding Starts | December 24, 2025 |
| Shares Offered | 13,77,600 |
| Portion Size | Up to 60% of the QIB |
| 50% shares lock in until (30 days) | January 30, 2026 |
| Lock-in of the remaining shares (90 days) | March 31, 2026 |
E to E Transportation Infrastructure IPO Prospectus
The documents listed below offer further details about this IPO:
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | – |
| Final Prospectus | Not Disclosed |
About E to E Transportation Infrastructure
Headquartered in Bengaluru, Karnataka, E to E Transportation Infrastructure was founded in 2010. Sourajit Mukherjee serves as the Whole-Time Director and CEO and is also part of the promoter group, alongside Zephyr Mantra LLC, Ventureast ETOE LLP, and Vinay Kunjuri Panduranga Rao. Together, the promoters guide the company’s strategic direction and oversee execution across its infrastructure projects.
The company operates in the transportation infrastructure space, with a clear focus on railway and urban transit projects. Its services cover design, engineering, supply, installation, testing, commissioning, and maintenance of railway electrification, metro rail systems, signalling, and related electrical and mechanical works. Within this ecosystem, the company operates alongside established players such as Texmaco Rail & Engineering Limited, KEC International Limited, and Ircon International Limited, active across India’s rail and transit landscape.
| Issue Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Manager | Hem Securities Ltd. |
E to E Transportation Infrastructure IPO Objectives
The funds raised will be utilised for the objectives outlined below:
| S. No. | Particulars | Amount (in ₹ lakh) |
| 1 | Working capital requirements | 7000.00 |
| 2 | General corporate use | – |
Strength Of E to E Transportation Infrastructure
The following points highlight key capabilities that shape how the company functions:
1. End-to-End Execution Strength: Managing activities from design through commissioning keeps control consolidated, reduces dependencies, improves coordination, and supports clearer alignment across execution stages.
2. Balanced Order Portfolio: Having projects spread across different service areas reduces dependence on any single activity. When one segment slows, others continue to move, creating steadier execution flow and better visibility.
3. Strong Management Depth: Experienced leadership brings clarity during complex situations. Familiarity with railway systems and regulatory processes helps the team respond quickly to on-ground challenges without losing momentum.
4. Flexible Asset-Light Model: Using specialised partners instead of owning heavy assets keeps operations adaptable. This approach allows resources to scale as needed while maintaining focus on precision, compliance, and system integration.
5. Consistent Operating Performance: A disciplined approach to planning and delivery supports steady progress. Rather than chasing speed, the company prioritises control and reliability, which suits long-cycle infrastructure work.
Risk of E to E Transportation Infrastructure
Here are a few areas where a more careful view is needed, as they can affect business stability over time.
1. Project Execution Delays: Railway projects depend on many agencies working in sync. If approvals slow or partners miss timelines, schedules slip, and delivery pressure increases.
2. Order Book Volatility: Not every project moves smoothly from start to finish. Some may slow down, change direction, or pause altogether, which can disrupt planning and make future income less predictable.
3. Receivable Collection Risk: Payments usually arrive after long gaps. When collections take longer than expected, everyday cash movement can feel tight despite ongoing work.
4. Working Capital Pressure: Money remains locked across projects for extended periods. Delays in recovery or sudden cost needs can strain liquidity and reduce financial flexibility.
E to E Transportation Infrastructure IPO Review
E to E Transportation Infrastructure operates in a space where progress is built step by step, not overnight. Its ability to handle complex rail and transit work shows discipline and experience on the ground. At the same time, delays, stretched payments, and changing project timelines are part of the daily reality. Returns may take time to show, and patience matters. This issue could suit investors who appreciate steady execution, accept uneven cash flows, and are comfortable riding through the ups and downs of infrastructure businesses.
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E to E Transportation Infrastructure IPO FAQs
It is a book-built SME issue comprising 48,40,000 fresh equity shares, raising ₹84.22 crore, with the proposed listing on the NSE SME platform.
Investors can apply through ASBA or UPI using their bank or trading app by selecting the issue, entering bid details, and confirming the mandate before the cut-off time.
The company benefits from end-to-end execution capabilities in rail and transit projects, but faces risks from project delays and working capital intensity. It may suit investors comfortable with infrastructure-linked execution risks.
The IPO is quoting a GMP of ₹65, indicating positive pre-listing interest. At current levels, market sentiment suggests optimistic expectations ahead of listing, though outcomes may vary.
The E to E Transportation Infrastructure IPO opens for subscription on December 26, 2025.
The lot size is 800 shares. Retail investors must apply for a minimum of two lots, totalling 1,600 shares.
The allotment of E to E Transportation Infrastructure IPO is scheduled on December 31, 2025.
The E to E Transportation Infrastructure IPO shares are proposed to list on the NSE SME platform on January 2, 2026.
