E To E Transportation Infrastructure IPO
E to E Transportation is an ISO 9001:2015 certified rail engineering solutions provider with over 15 years of experience, operating as a system integrator across mainline railways, urban transit systems and private sidings. The company offers end-to-end rail infrastructure services, including design, consultancy, procurement, installation, testing and operations & maintenance. Its solutions span railway signaling and telecommunication systems, track electrification, and turnkey projects involving civil and track components. E to E Transportation serves a diversified client base comprising Zonal Railways, PSUs under Indian Railways, large manufacturers, corporate entities with private rail sidings and infrastructure development companies, with presence in India and select international markets.
Price Band₹164 - ₹174 |
Dates26 Dec - 30 Dec |
GMP₹156 (89.66%) |
Subscriptions527.76 times |
Issue Size₹84.22 Crs |
E To E Rail IPO Key Dates
Opening Date
26 Dec 25
Closing Date
30 Dec 25
Basis Of Allotment
31 Dec 25
Initiations Of Refund
01 Jan 26
Credit Of Shares
01 Jan 26
Listing Date
02 Jan 26
E To E Rail IPO Objects
- Working capital requirement of the company
- General Corporate Purposes
E To E Rail IPO Details
Price Band₹164 - ₹174 |
Listing AtNSE SME |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹84.22 Cr (0.48 Cr Shares) |
Offer For Sale₹0.00 (0.00 Shares) |
Total Issue₹84.22 Cr (0.48 Cr Shares) |
Face Value₹10 per equity share |
E To E Rail IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Individual Investor |
Minimum
2
1,600
2,78,400
Maximum
2
1,600
2,78,400
|
|||
| Small HNI |
Minimum
3
2,400
4,17,600
Maximum
7
5,600
9,74,400
|
|||
| Big HNI |
Minimum
8
6,400
11,13,600
|
|||
E To E Rail IPO Subscription
Updated as on 30-Dec-2025 19:00:29 hrs
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 236.30 | 9,19,200 | 21,72,11,200 |
| NII | 872.89 | 6,89,600 | 60,19,48,000 |
| bNII | 1,028.76 | 4,59,200 | 47,24,05,600 |
| sNII | 562.25 | 2,30,400 | 12,95,42,400 |
| Individual Investor | 546.34 | 16,09,600 | 87,93,87,200 |
| Total | 527.76 | 32,18,400 | 1,69,85,46,400 |
Subscription figures exclude Anchor investor and Market Maker portions. Data is sourced from NSE and BSE on an "AS IS" and "AS AVAILABLE" basis without any warranty.
E To E Rail IPO GMP
The estimated Grey Market Premium of E To E Rail IPO is ₹156 per share (89.66%)
Disclaimer: The GMP prices displayed here reflect news related to grey market trends. We do not trade or deal in the grey market, including subject-to-rates, nor do we recommend participating in grey market trading.
Category Allocation
| Particulars | Allocation |
|---|---|
| QIB | Not more than 50% of Net Offer |
| NII | Not less than 15% of Net Offer |
| Retail | Not less than 35% of Net Offer |
| Market Maker | 2,44,000 Eq Shs |
E To E Rail IPO Financials
| Particulars | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Revenue | 111.00 | 250.81 | 170.18 | 134.58 |
| PAT | -7.31 | 14.37 | 9.71 | 7.77 |
| Net Worth | 108.70 | 116.05 | 66.86 | 57.15 |
| Borrowings | 113.51 | 66.18 | 61.18 | 43.11 |
| Assets | 310.84 | 295.44 | 200.89 | 145.16 |
| NAV (₹) | 87.54 | 93.47 | 54.21 | 46.34 |
| EPS (₹) | -5.88 | 11.58 | 7.88 | 6.30 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | Values |
|---|---|
| EBITDA | 10.59% |
| PAT | 5.73% |
| ROE | 15.72% |
| ROCE | 15.69% |
| Debt to Equity | 0.57 |
| PE Ratio | 15.03 |
| PB Ratio | 1.86 |
| Mkt Cap (in Crs.) | 300.28 |
All the data pertains to FY 2024-25. PE, PB, and market capitalization are calculated based on the Upper Price Band.
E To E Rail IPO Peer Comparision
| Particulars | E to E Rail | Texmaco Rail | KEC Intl | Ircon Intl |
|---|---|---|---|---|
| Revenue | 250.81 | 5,106.57 | 21,846.70 | 10,759.58 |
| PAT | 14.37 | 248.88 | 570.74 | 727.83 |
| EPS (₹) | 11.58 | 6.24 | 21.80 | 7.73 |
| NAV (₹) | 93.47 | 70.02 | 200.88 | 67.26 |
| RONW | 12.39% | 8.90% | 10.67% | 11.50% |
| EBITDA | 10.59% | 9.15% | 6.88% | 7.85% |
| PAT Mrgn | 5.73% | 4.87% | 2.61% | 6.76% |
| PE Ratio | 15.03 | 16.78 | 32.37 | 19.83 |
All information pertains to FY 2024-25. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of December 16, 2025 for Peers
E To E Rail IPO Peer Comparision
| Particulars | E to E Rail |
|---|---|
| Revenue | 250.81 |
| PAT | 14.37 |
| EPS (₹) | 11.58 |
| NAV (₹) | 93.47 |
| RONW | 12.39% |
| EBITDA | 10.59% |
| PAT Mrgn | 5.73% |
| PE Ratio | 15.03 |
| Texmaco Rail | KEC Intl | Ircon Intl |
|---|---|---|
| 5,106.57 | 21,846.70 | 10,759.58 |
| 248.88 | 570.74 | 727.83 |
| 6.24 | 21.80 | 7.73 |
| 70.02 | 200.88 | 67.26 |
| 8.90% | 10.67% | 11.50% |
| 9.15% | 6.88% | 7.85% |
| 4.87% | 2.61% | 6.76% |
| 16.78 | 32.37 | 19.83 |
All information pertains to FY 2024-25. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of December 16, 2025 for Peers
Promoter Details
| Name | Shareholding |
|---|---|
| Zephyr Mantra LLC | 29.02% |
| Ventureast ETOE LLP | 12.65% |
| Others | 3.51% |
| Total | 45.18% |
Management Details
| Name | Designation |
|---|---|
| Sourajit Mukherjee | CEO |
| Suresh Maddali | CFO |
Company Details
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
Email: srilakshmi.surendran@etoerail.com
Website: https://etoerail.com/
Book Running Lead Managers (BRLMs)
RTAs
MUFG Intime India
Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
E To E Rail IPO is a SME IPO having an issue size of Rs. ₹84.22 Crs. E To E Rail IPO is priced at ₹164 - ₹174 per share. The issue opens on 26 Dec 25 and closes on 30 Dec 25.
E To E Rail IPO opens on 26 Dec 25 and closes on 30 Dec 25.
The estimated Grey Market Premium of E To E Rail IPO is ₹156 per share (89.66%).
The minimum lot size of E To E Rail IPO is 800 shares & the minimum application amount is Rs. 139200.
The allotment date of E To E Rail IPO is 31 Dec 25.
The listing date of E To E Rail IPO is 02 Jan 26.
E To E Rail IPO is subscribed 527.76 times.
E To E Rail IPO is priced at ₹164 - ₹174 per share.
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