E to E Transportation Infrastructure IPO GMP, Price Band, Dates, Review

E to E Transportation Infrastructure IPO – Company Analysis

E to E Transportation Infrastructure IPO is an SME IPO and a bookbuild issue of Rs. 84.22 crore by E to E Transportation Infrastructure Limited. The company works in the railway infrastructure sector and provides engineering solutions and system integration services to the rail industry.

The company offers a wide range of services such as Signaling and Telecommunications (S&T), Track Projects, System Integration, Overhead Electrification (OHE), Private Sidings, and services through its Engineering Design and Research Center (EDRC).

E to E Transportation Infrastructure provides end-to-end railway engineering solutions. Its services cover the complete project lifecycle, including design, procurement, installation, and testing. The company operates across mainline railways, urban transit systems, and private railway sidings.

The company has strong experience in executing turnkey railway infrastructure projects. These projects include civil works, track laying, signaling and telecommunication systems, and railway electrification.

Over the years, the company has successfully completed projects for Indian Railways zonal divisions, private companies with railway sidings, public sector infrastructure projects, and railway and infrastructure development companies. It has also executed select projects in foreign countries, showing its technical capability and execution strength.

E to E Transportation Infrastructure IPO Details

The E to E Transportation Infrastructure IPO will open on 26 December 2025 and close on 30 December 2025. The IPO allotment is expected on 31 December 2025, and the refund process may start from 01 January 2026.

This SME IPO is a fully fresh issue of 0.48 crore shares, with a total issue size of Rs. 84.22 crore.

The expected listing date of the IPO is Friday, 02 January 2026, and the shares are proposed to be listed on the NSE SME platform.

The price band for the E to E Transportation Infrastructure IPO is fixed at Rs. 164 to Rs. 174 per share.

IPO Timetable (Tentative)

Company Financials

(Amount in Cr)

Cash Flows

(Amount in lac)

Revenue Bifurcation

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                                          (Source: RHP)

The Objective of the Issue

The company plans to use the net proceeds from the IPO for the following purposes:

• Working Capital Requirements:
  A major portion of the funds, around Rs. 70 crore, will be used to meet the company’s working capital needs and support ongoing and upcoming projects.
• General Corporate Purposes:
  The remaining funds will be utilised for general corporate activities, helping strengthen the company’s overall financial position.

Listed Peers of E to E Transportation Infrastructure Ltd.

Valuation

Evaluation of P/E Ratio

For FY 2025, the company reported an EPS of Rs. 11.58. Based on this, the calculated P/E ratio comes to 15.02x, which helps investors understand the valuation of the IPO compared to its earnings.

IPO's Strengths

• The company has strong capability to handle projects at different execution stages, from planning to completion.
• It has a diversified and healthy order book, which provides good revenue visibility.
• The company is supported by experienced board members, skilled senior management, and a well-trained team.
• It works across multiple project categories using an asset-light business model.
• The company has a proven and stable financial performance track record.

IPO’s Weaknesses

• Delays in project execution may impact timely completion and can lead to penalties.
• Profitability may be affected if the company faces delays or defaults in receiving payments from clients.
• The company depends on OEM suppliers and external technology for key components; any disruption in these arrangements may impact project costs and timelines.

E to E Transportation Infrastructure IPO GMP (Grey Market Premium)

As of 29 December 2025, the E to E Transportation Infrastructure IPO GMP is Rs. 145. Considering the upper price band of Rs. 174, the expected listing price may be around Rs. 239, indicating a potential gain or loss of about 37.36%.

E to E Transportation Infrastructure IPO Summary

IPO Lot Details

Retail investors can apply for a minimum of 2 lots (1600 shares) with an investment of Rs. 2,78,400. Applications can be made only in multiples of this lot size.

HNI investors can apply for a minimum of 3 lots (2400 shares) with a total investment of Rs. 4,17,600.

E to E Transportation Infrastructure IPO Allotment Status

Investors can check the E to E Transportation Infrastructure IPO allotment status by visiting the official website of the Registrar or the BSE website using the IPO allotment status section.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of E to E Transportation Infrastructure Ltd.

• Zephyr Mantra LLC
• Ventureast ETOE LLP
• Sourajit Mukherjee
• Vinay Kunjuri Panduranga Rao.

IPO Lead Managers

• Hem Securities Ltd.

Dividend Policy

The company has not declared or paid any dividend in the last three financial years.

Conclusion

With a strong order book and capabilities across multiple project execution stages, the E to E Transportation Infrastructure IPO offers investors exposure to India’s expanding railway infrastructure and transportation sector. The company has shown steady revenue growth and maintains a reasonably stable balance sheet, making the IPO valuation appear in line with listed peers. However, investors should carefully consider risks such as delays in project execution, dependence on timely receipt of payments from clients, and reliance on OEM suppliers before taking an investment decision.