E to E Transportation Infrastructure IPO Day 1: Check live subscription status, price band, lot size and key details

E to E Transportation Infrastructure IPO: The initial public offering of E to E Transportation Infrastructure Ltd, which operates as a system integrator for rail engineering solutions, opened for subscription on Friday, December 26. The issue will conclude on December 30.

The ₹84.22 crore initial share sale is a fresh issuance of 48,40,000 shares without an offer for sale (OFS) component.

The funds generated are intended to be utilised for working capital requirements and general corporate purposes.

"We believe that listing will enhance our corporate image and visibility of brand name of our company. We also believe that our company will receive the benefits from listing of equity shares on the SME platform of NSE (NSE EMERGE). It will also provide liquidity to the existing shareholders and will also create a public trading market for the Equity Shares of our company," the firm said in its red herring prospectus (RHP).

E to E Transportation Infrastructure IPO Day 1: Subscription status

The issue has been subscribed to 2.80 times so far on the first day of bidding. It received bids for 96,92,800 shares as against 34,62,400 shares on offer, according to the NSE data until 1:03 pm.

E to E Transportation Infrastructure IPO: Price band and lot size

The company has set a price band of ₹164 to ₹174 per share. A lot consists of 800 shares. Individual investors can apply for a minimum of two lots or 1,600 shares.

Prior to the IPO, the company had raised ₹23.97 crore from anchor investors, including Sanshi Fund-I, Rajasthan Global Securities, Aarth AIF Growth Fund, Mind Focused Growth Fund PCC-CELL 1, India Max Investment Fund and Tiger Strategies Fund-I, among others.

E to E Transportation Infrastructure IPO timeline

E to E Transportation Infrastructure Ltd, an ISO 9001:2015 certified company, operates as a system integrator for rail engineering solutions. It provides comprehensive engineering services for railway infrastructure projects, offering customised solutions for designing, procurement, installation and testing of rail signalling and tele-communication systems, track electrification and turnkey projects both in the domestic and in select international markets.

E to E Transportation Infrastructure IPO GMP

According to investorgain.com and media reports, E to E Transportation Infrastructure's unlisted shares are trading at ₹204, reflecting a grey market premium of 74.71% over the upper price band of ₹174.