E2E Transportation Infrastructure IPO Draws Overwhelming Response, Subscribed 525.25×
The public issue of E to E Transportation Infrastructure Limited — the rail engineering and system integration specialist — closed on December 30, 2025, after a highly subscribed bidding period that began on December 26, 2025. The IPO, aggregating ₹84.22 crore, attracted strong participation from all categories of investors, underscoring robust market sentiment toward the company’s growth prospects in the railway infrastructure segment.
Day 3 Subscription Highlights (as of December 30, 2025 | 4:29:58 PM)
- QIB (Ex-Anchor): 236.30x
- NII: 871.67x
- Retail (Individual Investors): 541.85x
- Total: 525.25x
NSE Link: https://www.nseindia.com/
Chittorgarh Link: https://www.chittorgarh.com/
The subscription figures reflect significant interest from non-institutional and retail investors, supported by steady participation from institutional buyers.
About the IPO:
- Issue Size: ₹84.22 crore (Fresh issue)
- Price Band: ₹164 – ₹174 per share
- Lot Size: 800 shares
- Bidding Period: December 26 – December 30, 2025
- Allotment Finalisation: December 31, 2025
- Listing Date: January 2, 2026 (on NSE SME)
E to E Transportation Infrastructure Limited plans to use the proceeds primarily for working capital requirements and general corporate purposes.
Company Overview & Business Highlights
Incorporated in 2010, E2E Transportation Infrastructure Limited is an ISO 9001:2015 certified company engaged as a system integrator of Signalling and Telecommunication (S&T) systems for the railway sector. The Company provides end-to-end solutions, including design, engineering, procurement, installation, testing, and commissioning, across mainline railways, metro rail projects, and private sidings.
As disclosed in the Red Herring Prospectus, the Company has executed projects aligned with Kavach 4.0, India’s indigenous automatic train protection system, reflecting its capabilities in safety-critical signalling infrastructure. The Company has also collaborated with Tata Elxsi on select technology-led initiatives, as detailed in the RHP.
The promoter group includes Sourajit Mukherjee and Vinay Rao, associated with Ventureast, and Zephyr Mantra, a US-based fund. The Company’s shareholding structure also includes Mukul Mahavir Agarwal, Ashwini Agarwal, and Himanshu Modi, among other investors, in accordance with disclosures made in the RHP.
The Company has undertaken projects involving CBTC signalling for metro networks, railway electrification, signalling and telecom modernisation, and integrated infrastructure solutions for industrial and logistics clients. As of September 30, 2025, the Company’s order book stood at ₹40,110.37 lakh.
For the financial year ended March 31, 2025, the Company reported operating revenue of ₹250.80 crore and net profit after tax of ₹14.37 crore, as disclosed in the offer documents.
