E to E Transportation IPO: GMP, Price, Analysis, And Details

E to E Transportation Infrastructure IPO- Company Analysis

E to E Transportation Infrastructure IPO under the SME IPO category is a bookbuild issue of Rs. 84.22 Cr by E to E Transportation Infrastructure Limited and is company that offers engineering solutions and system integration to the railroad industry.

Signaling and Telecommunications (S&T), Track Projects and System Integration, Overhead Electrification (OHE), Private Sidings, and Engineering Design and Research Center (EDRC) are among the services provided. The company provides end-to-end rail engineering services, including design, procurement, installation, and testing, and operates in the mainline, urban transit, and private siding segments.

The company's experience includes turnkey railway infrastructure projects encompassing civil and track components, signaling and telecommunication systems, and track electrification. It has carried out projects for zonal railroads, business entities with private train sidings, public sector initiatives under Indian railroads and infrastructure development firms in India and a few foreign countries over the years.

E to E Transportation Infrastructure IPO Details

The E to E Transportation Infrastructure IPO date of opening is 26 Dec 2025, its initial public offering will end on 30 Dec, IPO allotment on Dec 31 and refund initiation on Jan 01, 2026.

The Rs. 84.22 crore new SME IPO comprises a wholly fresh issue of 0.48 crore shares.

The E to E Transportation Infrastructure IPO listing date (expected) might be on Friday, Jan 02, 2026, and listing at the NSE and SME. 

The E to E Transportation Infrastructure IPO price band is Rs. 164 to Rs. 174.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Dec 26, 2025
IPO Closing Date	Dec 30, 2025
IPO Allotment Date	Dec 31, 2025
Refund Initiation	Jan 01, 2026
IPO Listing Date	Jan 02, 2026

 

Click to open demat account and apply for the IPO.

 

 

Company Financials

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	295.44	200.89	145.16
Total Income	253.82	172.50	135.70
PAT	13.99	10.26	8.15
EBITDA	26.57	18.34	13.28
Net Worth	116.05	66.86	57.15
Reserves & Surplus	115.68	66.67	56.95
Total Borrowing	66.18	61.18	43.11

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(911.15)	716.67	(95.24)
Net Cash Flow Investing Activities	(964.03)	(1,709.90)	(449.88)
Net Cash Flow Financing Activities	2,741.43	1,104.07	831.51

 

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• To meet the working capital requirements of the company. ~ Rs. 70 Cr.

• General Corporate Purposes.
  
  

Listed Peers of E to E Transportation Infrastructure Ltd.

Company Name	Face Value (Rs.)	EPS Basic (Rs.)	P/E (x)
Texmaco Rail & Engineering Ltd.	1	6.24	16.78
KEC International Ltd.	2	21.8	32.37
Salasar Techno Engineering Ltd.	2	7.73	19.83

Valuation

KPI	Value
ROE	15.72%
ROCE	15.69%
Debt / Equity	0.57
RoNW	12.39%
PAT Margin	5.73%
EBITDA Margin	10.59%
PB Value	1.86

 

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 11.58 from the last year, the resulting P/E ratio is 15.02x.

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IPO's Strengths

• Capability at various project execution stages.

• A robust and varied order book.

• Seasoned board members, important managers, and a team with excellent training.

• Various project categories using an asset-light paradigm.

• A proven track record in finance.

 

IPO’s Weaknesses

• Project execution delays could affect timely completion and result in fines.

• Its profits may decline if the company is unable to collect receivables from its clients or if they fail to make payments.

• Rely on OEM suppliers and technology for essential parts and systems and any interference with these agreements could affect project budgets and schedules.

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

E to E Transportation Infrastructure IPO GMP today is Rs. 65 as of 20 Dec 2025 while writing this information. With a price band set at Rs. 174. This suggests that the estimated listing price of the IPO could be around Rs. 239, indicating a gain/loss of 37.36%.

E to E Transportation Infrastructure IPO Summary

IPO Opening & Closing Date	26 Dec, 2025 to 30 Dec, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 164 to Rs. 174 per Share.
Lot Size	800 Shares
Issue Size	48,40,000 Shares (Rs. 84.22 Cr)
Offer for Sale	-
Fresh Issue	48,40,000 Shares (Rs. 84.22 Cr)
Listing at	NSE, SME
Issue Type	Bookbuild issue IPO
Registrar	MUFG Intime India Pvt. Ltd.

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (1600 Shares) for Rs. 2,78,400, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (2400 Shares) for Rs. 4,17,600.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

E to E Transportation Infrastructure IPO Allotment Status

To check the E to E Transportation Infrastructure IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

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.

Pre-Issue Promoter Shareholding	45.19%
Post-Issue Promoter Shareholding	32.51%

 

IPO Lead Managers

• Hem Securities Ltd.
  
  

Dividend Policy

The company has not paid a dividend during the last three financial years.

 

Conclusion

With a robust order book and a variety of project execution skills, the E to E Transportation Infrastructure IPO provides exposure to India's growing railway and infrastructure development sector. With consistent revenue growth and a somewhat sound balance sheet, the IPO pricing seems fair when compared to public peers. However, before making an investment choice, investors should take receivables risk, execution delays and reliance on OEM suppliers into account.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.