Rail and metro development in India is poised to enter a high-growth phase, with spending focused on expansion, electrification, signaling, and development of metro rail corridors by 2030. EPC contractors who are specialists and possess end-to-end capabilities from design, engineering, and implementation to commissioning are poised to take advantage of the contract trend that favors qualified contractors.
E to E Transportation Infrastructure Ltd, based at Hyderabad, caters to this sweet zone as a focused rail EPC integrator for signaling, overhead electrification & track work for Indian Railways as well as rail metropolitan organizations. The company's FY25 total income amounts to around ₹253.82 crores with a PAT of ₹14.37 crores. It is planning with an IPO on the 26th of December 2025 for funding working capital as well as for enhancing the balance sheet for taking on big projects during this rapidly growing rail capex cycle.
E to E Transportation Infrastructure IPO Details:
E to E Transportation Infrastructure Issue Management:
Hem Securities Ltd. acts as the book-running lead manager for E to E Transportation Infrastructure SME IPO, managing underwriting and compliance.
E to E Transportation Infrastructure RTA (Registrar) Details:
MUFG Intime India Pvt Ltd handles allotment, refunds, and demat credits—contact at +91-22-4918 6270 or etoetransportation.smeipo@in.mpms.mufg.com.
E to E Transportation Infrastructure IPO Allotment Status:
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Action Links:
To apply for E to E Transportation Infrastructure Limited IPO, open a demat account here
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The E to E Infrastructure Limited (E2E) is a rail Engineering company specializing in rail Engineering system integration. E2E offers end-to-end services for Signalling, Electrification, Track Works, and Metro Projects. E2E Works as an EPC Contractor for the Indian Railways and Metro Authorities, and is located in Hyderabad, India. E2E offers full-service contracts that include Design, Procurement, Construction, Testing, and Commissioning Services for Indian Railways and Metro Authorities, using E2E's own team of professionals, which has a minimum of 15 years of experience in the Rail Industry.
For the 2025 Financial Year, E2E generated Revenue of ₹142.35 Cr, with the majority of Revenue being generated from Rail Signalling 45% , Electric 32% and Track Organizing 18%. This revenue growth is due to E2E having an order book of ₹250 Cr (1.80x the annual revenue) in more than fifteen railway divisions. The strong order book is attributed to the increase in Infrastructure Investments in India's Railway Modernization Initiative, strong customer relationships through repeated orders from the Ministry of Railways, and the Company's Execution Capabilities based on the 9001:2015 ISO Certification and strong Strategic Vendor Partnerships.
E to E Transportation Infrastructure IPO comprises a fresh issue of ₹84.22 Cr (48.40 lakh shares) aimed at working capital requirements and general corporate purposes.
E to E Transportation Infrastructure IPO proceeds will be deployed towards the following objectives:
E to E Transportation Infrastructure SME IPO reserves shares across key investor categories, with retail at 33.26%, NII (HNI) at 14.25%, QIB at 47.45% (including 28.46% for anchors), and market makers at 5.04%.
E to E Transportation Infrastructure IPO reserves 13,77,600 shares (28.46% of total issue) for anchor investors.Anchor bidding occurs on Dec 25, 2025 (1 day before public opening).
Lock-in: 50% for 30 days (until Jan 24, 2026), 50% for 90 days (until Mar 25, 2026).
The anchor allocation document filed right before the issue opens will list the names of specific anchor investors.
E to E Transportation Infrastructure delivers healthy profitability, with a return on equity (ROE) of 15.72%, an EBITDA margin of 10.59%, and a PAT margin of 5.73% for FY25 as per DRHP.
At the upper price band of ₹174, valuation on a pre‑issue basis works out to roughly 15x FY25 EPS.
The important risks and strengths of E to E Transportation Infrastructure Limited IPO are mentioned below:
Strengths
FY25 total income of ₹253.82 Cr and PAT of ₹14.37 Cr show meaningful scale and profitability as per DRHP summary financials.
The net worth of Rs 116.05 crores and the record of profitability for the company demonstrates strength in the balance sheet for major EPC invitations.
The company has diversified rail EPC capabilities across signaling, electrification and track‑related works, covering design to commissioning.
Improving KPIs such as RoE and RoCE (mid‑teens) indicates efficient usage of capital in a growing order book.
Risks
Revenues and receivables generated by the company are mainly from governmental and/or public sector undertaking rail organizations, which makes the company vulnerable to the governments’ tender and subsequent payment cycles.
EPC contracts are milestone‑based; delays, cost overruns or disputes in a few large projects can materially affect margins and cash flows.
Currently, the working capital remains sizable versus the scale of operations, with borrowings over ₹66 Cr, implying sensitivity to interest rates and liquidity conditions.
Fixed‑price/competitive bids expose the company to input‑cost volatility, which can compress EBITDA and PAT margins if not hedged or passed through.
E to E Transportation Infrastructure exudes a good size and growth trend. Under their DRHP, their total income in FY25 is not more than ₹253.82 Cr, with PAT of ₹14.37 Cr, and returning mid-teens to equity and capital employed in its rail EPC contracts.
For IPO subscribers, E to E Transportation Infrastructure provides access to the rail/ metro capex cycles of India as an end-to-end rail engineering company undertaking signal, electrification, and completed track works projects. At the upper end of the price band of ₹174, the issue is valued at about 15 times FY25 earnings post IPO, with a subsequent slight discount due to increased equity capital post IPO.
There are certain positives for the company: its scale and profitability, an enhanced net worth base of approximately ₹116.05 Cr, and the ability to handle multiple segments, which makes the company poised for larger orders on the railway and Metro sectors. The downsides to this is; Large dependence on government & PSU sectors, working-capital-intensive model and significant borrowings, risk related to cost overruns and/or delay on certain large EPC orders, and any delay/slowdown in railway capex expenditure as a result of any reprioritization due to change in government policies. Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis only contains informative purposes and not investment advice.
Action Links:
To apply for E to E Transportation Infrastructure Limited IPO, open a demat account here
E to E Transportation Infrastructure Limited IPO Subscription Status: Check live subscription here
E to E Transportation Infrastructure IPO GMP Update: Check current grey market premium here
1. What is the E to E Transportation Infrastructure IPO date, listing and timeline?
E to E Transportation Infrastructure IPO opens on 26 December 2025 and closes on 30 December 2025. The allotment takes place on 31 December 2025, with refunds/demat credit on 1 January 2026 and listing on 2 January 2026 on NSE SME.
Track E to E Transportation Infrastructure IPO subscription status live here.
2. What is the E to E Transportation Infrastructure IPO price band, lot size and issue size?
The IPO price band is ₹164–₹174 per share with a lot size of 800 shares. The company is raising ₹84.22 crore through a fresh issue of 48.40 lakh shares, with no offer for sale.
Track E to E Transportation Infrastructure IPO GMP here on Finnpick to gauge investor demand before submitting your bid.
3. What are the business and financial highlights of E to E Transportation Infrastructure?
E to E Transportation Infrastructure is a rail EPC company executing end‑to‑end railway and metro projects including signalling, overhead electrification and track works for Indian Railways and metro corporations. As per FY25 restated numbers, it reported about ₹253.82 crore total income and ₹14.37 crore PAT, with an improving net worth of ₹116.05 crore.
4. How to apply for the E to E Transportation Infrastructure IPO?
Open demat here (Zerodha/Upstox/AngelOne) or ASBA by Dec 30, 5 PM. Monitor E to E Transportation Infrastructure IPO subscription GMP tracker here.
5. Who are the promoters of E to E Transportation Infrastructure and what is their shareholding?
The main promoters are Zephyr Mantra LLC, Ventureast ETOE LLP and Sourajit Mukherjee. Collectively, promoter and promoter group hold about 45.19% pre‑IPO stake, which will dilute to roughly 32.51% post‑IPO as fresh equity is issued.
6. What is the E to E Transportation Infrastructure IPO listing date NSE SME allotment?
The E to E Transportation Infrastructure IPO Allotment finalizes on Dec 31, 2025; The refunds/credit takes place on Jan 01 and listing on Jan 02, 2026 on NSE SME. Check E to E Transportation Infrastructure IPO allotment status at MUFG Intime India Pvt Ltd on Dec 31.
7. What is the E to E Transportation Infrastructure IPO GMP, subscription status and how can I track it?
Current GMP ₹55 (+31.61%) (as of Dec 19). E Transportation Infrastructure IPO GMP trends here and live subscription status here from Dec 26 opening.
