Railways-linked firm’s Rs 84 crore IPO attracts Rs 29.5k crore bids

MUMBAI: An SME company eyeing about Rs 84 crore from its IPO, was subscribed nearly 500 times, generating a total demand worth almost Rs 29,500 crore (excluding the anchor part). The company, E2E Transportation Infra, works with the Indian railways on the Kavach 4.0 train protection system and also other signalling & telecommunication (S&T) systems. This is the second SME IPO in as many weeks to have been heavily subscribed. Last week, another SME IPO, by Shyam Dhani Industries, a Jaipur-based masala company, was subscribed 918 times. In the IPO, E2E Transportation offered 48.4 lakh shares at a price band of Rs 164-174 per share, data on NSE showed. Of the total, 13.8 lakh shares were offered through the anchor book route, for which the total demand was for nearly 24 crore shares. Another 2.4 lakh shares were reserved for the market makers in the offer.