E2E Transportation Infrastructure IPO subscribed 72.24 times so far on Day 2; what we know so far

E2E Transportation Infrastructure IPO: The initial public offering of railway infrastructure company E2E Transportation Infrastructure has been subscribed 72.24 times so far on the second day of bidding on Monday, December 29.

The issue has received bids for 25,01,34,400 shares as against 34,62,400 shares on offer, according to the National Stock Exchange (NSE) data until 1:51 pm.

The ₹84.22 crore IPO, with a price band of ₹164 to ₹174 per equity share, will end on December 30.

The Bengaluru-headquartered company's initial share is only a fresh issuance of 48.40 lakh equity shares. The money raised will be utilised for working capital needs and corporate general purposes.

In its red herring prospectus (RHP), the firm said, "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."

A lot consists of 800 shares. The minimum application size for an individual investor is 1,600 shares and in multiples thereof.

The company's shares will make their stock market debut on the National Stock Exchange's SME platform Emerge on January 2.

Founded in 2010, E2E Transportation Infrastructure operates as a system integrator of Signalling and Telecommunication (S&T) systems for the railway sector.

It offers end-to-end solutions covering design, engineering, procurement, installation, testing, and commissioning across mainline railways, metro rail projects, and private sidings.

E to E Transportation Infrastructure IPO GMP