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15 Days Price Change

E to E Transp. Infra IPO

Closing In

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Profile
Issue Size 60.25 Cr
Profile
Price Range 164  to  174 per share
Profile
Min Investment ₹174
Profile
Lot Size 1
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Face Value ₹10
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Draft Prospectus
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Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

To enhance the safety and efficiency of train operations, signalling systems are being modernized with the latest technologies, including Kavach, Electronic Interlocking, and Automatic Signalling. (Source - Industry Data). Government has been taking steps for modernization of the signalling system to enhance the safety and efficiency of train operations. To take advantage of these initiatives we have established E2E Rail's Engineering Design and Research Center (EDRC) for undertaking research and testing activities in railway engineering. The centre is equipped with a team of engineers and designers equipped with advanced tools for electrification modelling, and configuration tools for Electronic Interlocking(EI) systems, for undertaking activities relating to signalling & telecommunication, electrification & electronic interlocking design etc. Further, we have incorporated a wholly owned subsidiary company i.e. Nova Control Tecnologix Private Limited with an objective to actively engage in the business of designing, development and manufacturing of products required in the railway signalling and telecommunication business. This subsidiary has been created to achieve the vision of getting “Atmanirbhar” and also contribute on the Make in India initiative. In the inception itself Nova Control Tecnologix Private Limited have entered into an agreement with Tata Elxsi for designing and co-develop Automatic Train Protection System (Kavach) to address the requirements of Indian Railways Industry as well as international markets. We follow a structured approach to project execution, balancing in-house capabilities with selective outsourcing to ensure timely delivery and adherence to quality standards. While our core activities such as design, engineering, and system integration are managed internally, we outsource certain execution components such as civil works, fabrication, and installation to qualified subcontractors and vendors. All outsourced activities are monitored through quality control processes, supervisory oversight, and compliance with project specifications and safety protocols. This enables us to optimize resource allocation, scale operations across multiple sites, and maintain consistency in delivery while ensuring that each project meets the technical and regulatory requirements of our clients. Our workforce as of July 31, 2025 consisted of 425 full time employees on a standalone basis which position us to undertake growing number of large scale projects. As of the date of this Draft Red Herring Prospectus, our 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. To ensure efficient project execution and localized coordination, we have established Project Implementation Units (PIUs) across these locations. These PIUs are responsible for managing and executing projects within their assigned regions, which helps to manage resources effectively, maintain coordination with clients, and ensure timely execution of projects across diverse geographies. Read More

Basic Info

Face Value 10 per share

Price 164  to  174 per share

P/E (x) 15

Sales( Cr.) 251

PAT( Cr.) 14

EPS 11.6

Draft Prospectus

Exchange NSE-SME

Promoter

Company Promoters

Zephyr Mantra LLC Ventureast Etoe LLP Sourajit Mukherjee

Pre Issue Share Holding 44.77%

Post Issue Share Holding 32.51%

Listing Details:

Listing Price: 330.6

Listing Gain: 47.37%

Current Price: 256.7

Gain On Issue: 256.7 | 0%

GMP: 162

GMP %: 93.1 %

IPO Tentative Timetable

Opening Date Dec 26, 2025
Closing Date Dec 30, 2025
Allotment Dec 31, 2025
Refund Jan 01, 2026
Delivery of Shares Jan 01, 2026
Listing Date Jan 02, 2026

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 1600 278,400
Retail (Max) -- -- --
S-HNI (Min) 1 1600 278,400
S-HNI (Max) 3 4800 835,200
B-HNI (Min) 4 6400 1,113,600

Objective of the Issue

1) To meet working capital requirements 2) General Corporate Purpose.

Issue

Category Nos Bid Bid (x)
QIB 0 217211200 0x
NII 0 601948000 0x
Retail 0 879387200 0x
EMP 0 0 0x
Total 0 1698546400 0x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

E to E Transp. Infra Profit & Loss

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 135 170 251
Other Income 1 2 3
Total Income 136 173 254
Total Expenditure 120 151 222
Operating Profit 16 22 32
Interest 5 7 12
Depreciation 0 1 1
Exceptional Income / Expenses 0 0 0
Profit Before Tax 11 14 18
Provision for Tax 2 4 4
Profit After Tax 8 10 14
Adjustments -0 -1 0
Profit After Adjustments 8 10 14
Adjusted Earnings Per Share 12.3 15.4 11.6

E to E Transp. Infra Balance Sheet

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 57 67 116
Minority's Interest 0 0 0
Borrowings 9 8 5
Other Non-Current Liabilities 0 1 1
Total Current Liabilities 78 125 174
Total Liabilities 145 201 295
Fixed Assets 1 3 6
Other Non-Current Assets 14 10 11
Total Current Assets 129 187 278
Total Assets 145 201 295

E to E Transp. Infra Cash Flow

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 4 5
Cash Flow from Operating Activities -1 7 -9
Cash Flow from Investing Activities -4 -17 -10
Cash Flow from Financing Activities 8 11 27
Net Cash Inflow / Outflow 3 1 9
Closing Cash & Cash Equivalent 4 5 14

E to E Transp. Infra Ratios

# Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 12.28 15.36 11.58
CEPS(Rs) 13.11 17.15 12.05
DPS(Rs) 0 0 0
Book NAV/Share(Rs) 90.33 105.69 93.46
Core EBITDA Margin(%) 10.83 11.4 11.51
EBIT Margin(%) 11.55 12.41 12.32
Pre Tax Margin(%) 7.85 8.28 7.37
PAT Margin (%) 6.05 6.03 5.58
Cash Profit Margin (%) 6.16 6.38 5.97
ROA(%) 5.63 5.94 5.65
ROE(%) 14.26 16.54 15.3
ROCE(%) 15.5 18.5 19.9
Receivable days 91.87 104.34 114.21
Inventory Days 1.85 1.33 1.73
Payable days 141.64 153.49 186.82
PER(x) 0 0 0
Price/Book(x) 0 0 0
Dividend Yield(%) 0 0 0
EV/Net Sales(x) 0.1 0.08 0.01
EV/Core EBITDA(x) 0.82 0.61 0.06
Net Sales Growth(%) 0 26.45 47.38
EBIT Growth(%) 0 35.9 46.31
PAT Growth(%) 0 25.9 36.41
EPS Growth(%) 0 25.01 -24.62
Debt/Equity(x) 0.75 0.92 0.57
Current Ratio(x) 1.65 1.51 1.6
Quick Ratio(x) 1.64 1.5 1.59
Interest Cover(x) 3.12 3.01 2.49
Total Debt/Mcap(x) 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 48% 0% 0% 0%
Operating Profit CAGR 45% 0% 0% 0%
PAT CAGR 40% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 15% 15% 15% 15%
ROCE Average 20% 18% 18% 18%

Company Contact Information

E to E Transportation Infrastructure Ltd.

Srilakshmi Surendran

srilakshmi.surendran@etoerail.com

10th Floor, Sattva Galleria, Survey, Nos. 19/2 & 20/1 Bellary Road, Byatarayanapura Bangalore North

IPO Lead Manager(s)

E to E Transportation Infrastructure Ltd.

Hem Securities Ltd.

Registrar Info

E to E Transportation Infrastructure Ltd.

MUFG Intime India Pvt Ltd.

C 101, 247 Park, LBS Marg, Vikhroli (W), Mumbai (Old Address:) C-13 Pannalal Silk Compound, L B S Marg, Bhandup Mumbai Maharashtra

+91 810 811 8484

91-022-49186060

rnt.helpdesk@in.mpms.mufg.com

https://in.mpms.mufg.com/

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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