E to E Transportation Infrastructure IPO

About E to E Transportation IPO

The E to E Transportation IPO comprises only a fresh issue. It has no offer for sale. The fresh issue aggregates up to 48,40,000 equity shares. The price band is ₹164 to ₹174 per share.

E to E Transportation IPO opens on December 26, 2025 and closes on December 30, 2025. The allotment of shares will take place on December 31, 2025. The credit of shares to the Demat account will take place on January 1, 2026. The initiation of refunds will take place on January 1, 2026. The listing of shares will take place on January 2, 2026.

The lot size of shares in the IPO is 800. The minimum number of lots in the IPO for retail investors is 2. The minimum investment amount required by a retail investor is ₹2,78,400 based on the upper price.

E to E Transportation Infrastructure is an ISO 9001:2015 certified company, operating as a system integrator for rail engineering solutions across mainline, urban transit, and private siding segments. With over 15 years of experience, it offers comprehensive rail engineering services for railway infrastructure projects, providing customised solutions for designing, procurement, installation and testing of rail signalling & tele-communication systems, track electrification and turnkey projects involving civil and track components.

Objectives of E to E Transportation IPO

The company proposes to utilise the net proceeds received for:

• Meeting working capital requirements
• General corporate purposes

Industry Outlook

The Indian railway system is regarded as the foundation and lifeblood of the economy. Indian railways span thousands of kilometres practically covering the entire nation, making it the fourth largest in the world after the US, China, and Russia. The government has prioritised transforming Indian Railways into a world-class entity. In the Union Budget 2024-25, a record capital expenditure (capex) of ₹2,62,200 crores has been allocated to the Railways.

The gross budgetary support for the same period is set at ₹2,52,200 crores, a significant increase from the ₹2,40,200 crores in 2023-24, and a substantial rise from ₹28,174 crores in 2013-14. Under the PM Gati Shakti Mission, Indian Railways has adopted a new approach to infrastructure development.

E to E Transportation Infrastructure Company Information

E to E Transportation Infrastructure is an ISO 9001:2015 certified company, operating as a system integrator for rail engineering solutions across mainline, urban transit, and private siding segments.

With over 15 years of experience, it offers comprehensive rail engineering services for railway infrastructure projects, providing customised solutions for designing, procurement, installation and testing of rail signalling & tele-communication systems, track electrification and turnkey projects involving civil and track components, both in India and in select international markets.

Strengths of E to E Transportation Infrastructure

• Capability across different stages of project execution
• Strong and diversified order book
• Experienced board and key managerial personnel and skilfully trained workforce
• Diverse categories of projects with an asset light model
• Established financial track record

Risks of E to E Transportation Infrastructure

• The company derives a substantial portion of its revenues from a few customers
• Delays in project execution works may impact the timely execution which may lead to penalties, loss of reputation, or termination of contracts
• Order book is subject to cancellation, modification or delay which may materially and adversely affect business
• Inability to collect receivables from customers or default in payment by them could result in the reduction of profits and affect cash flows
• Company operations require significant amount of working capital for a continuing growth and subject to delays in payments from government clients

Anchor Investor Bidding Date

Anchor portion of the IPO opens for bidding on December 24, 2025.

IPO Registrar and Book Running Lead Manager

• IPO Registrar: MUFG Intime India
• Book Running Lead Manager: Hem Securities

E to E Transportation Infrastructure Business Model

E to E Transportation Infrastructure offers comprehensive rail engineering services for railway infrastructure projects. The service portfolio of the company includes:

• Signalling and Telecommunications
• Overhead Electrification
• Composite Projects
• Private Sidings
• Engineering Design and Research Centre

E to E Transportation Infrastructure Growth Trajectory

The revenue from operations of E to E Transportation Infrastructure increased from ₹134.5816 crores in FY 23 to ₹250.8090 crores in FY 25. Its EBITDA margin increased from 9.87% in FY 23 to 10.59% in FY 25. Capability across different stages of project execution and a strong and diversified order book have helped the company grow over the years.

E to E Transportation Infrastructure Market Position

Since its incorporation in financial year 2010, E to E Transportation Infrastructure has successfully completed diverse projects including railway signalling and telecommunication, railway electrification, design, construction for railway tracks, operation and maintenance of the railway and urban transit projects.

As of September 30, 2025, the company has an order book comprising 50 ongoing contracts (including projects with subsidiaries).

As on the date of the company’s red herring prospectus, its ongoing projects are spread across different states, which includes Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana, Uttar Pradesh, West Bengal.

How to Apply for E to E Transportation Infrastructure IPO?

To apply for E to E Transportation Infrastructure IPO:

• Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.