E to E Transportation Infra IPO Listing: E to E Transportation Infrastructure Ltd on January 2 witnessed a blockbuster debut on the stock market.
The SME stock was listed on the NSE Emerge at Rs 330.6 apiece, which is 90% higher than the issue price of Rs 174. Its total market capitalisation (mcap) stood at Rs 571.23 crore.
The Rs 84.22-crore SME IPO was open for public subscription between December 26 and December 30. It received a whopping 526.56 times subscription, garnering bids for 1,69,46,76,000 shares as against 32,18,400 shares on offer.
Its retail category got a 544.28x subscription, while its non-institutional investor (NII) quota got a 872.09x subscription. Its qualified institutional buyer (QIB) category has received a 236.30x subscription.
About E to E Transportation Infrastructure
E To E Transportation Infrastructure Limited, which was founded in 2010, is an ISO 9001:2015-certified engineering company specialising in system integration and turnkey solutions for the railway sector. The company operates across mainline railways, urban transit systems and private sidings, offering end-to-end execution from design and engineering to procurement, installation and testing.
Its service portfolio spans signalling and telecommunications (S&T), overhead electrification (OHE), track projects and system integration, private sidings, as well as services through its Engineering Design and Research Centre (EDRC). The company has built capabilities across signalling and telecom systems, rail electrification and integrated infrastructure projects involving civil and track components.
Over the years, E To E Transportation has executed projects for zonal railways and public sector units under Indian Railways, private industrial customers with captive rail sidings, and infrastructure developers in India, along with select overseas assignments.
Key projects undertaken by the company include CBTC signalling works for the Hyderabad and Nagpur Metro, signalling and telecom modernisation at Vizag Steel Plant and NUPPL Power Plant, electronic interlocking upgrades on the Hosur-Salem route, private siding expansion at Gujarat Pipavav Port with DFCC connectivity, and installation of platform screen doors for Mumbai Metro Line 3 and Chennai Metro Phase 1.
As of September 30, 2025, the company had an order book of 50 ongoing projects with an aggregate value of Rs 40,110.37 lakh, providing strong revenue visibility. As on November 30, 2025, it employed 353 full-time personnel.
The company’s competitive strengths include its ability to execute projects across multiple stages, a diversified and healthy order book, an experienced management team, a skilled workforce, exposure to varied rail infrastructure segments, and an asset-light operating model supported by an established financial track record.
The company reported a 47% jump in revenue and a 36% rise in profit after tax in FY25 compared with the previous financial year.
E to E Transportation Infrastructure IPO: More Details
E to E Transportation Infrastructure’s Rs 84.22-crore initial public offering was a book-built issue consisting entirely of a fresh issuance of 0.48 crore equity shares. The price band for the issue was fixed at Rs 164-Rs 174 per share.
Hem Securities Ltd acted as the book-running lead manager to the issue, while MUFG Intime India Pvt Ltd was the registrar. Hem Finlease Pvt Ltd served as the market maker.