E2E Networks’ share price went up by 5% on November 5 after Larsen & Toubro (L&T) announced plans to buy a 21% stake in the company for over ₹1,000 crore.
E2E Networks specializes in providing cloud computing platforms using CPU and GPU technology, and the stake purchase is expected to be completed by December 31.
During Tuesday’s trading session, E2E Networks reached a new high of ₹4,977.50 per share on the NSE, reflecting a 5% increase, while L&T shares were slightly down by 0.35% at ₹3,561.90.
The investment will occur through a preferential allotment of a 15% stake in E2E Networks, which includes 29,79,579 equity shares at ₹3,622.25 per share, totaling ₹1,079.27 crore. Additionally, L&T will acquire a 6% stake through a secondary purchase of 11,91,831 equity shares from the founder for ₹327.75 crore at ₹2,750 per share, as stated in the company’s filing.
E2E Networks operates as an Infrastructure Cloud and AI/ML/GenAI Cloud Platform, offering GPU-as-a-Service solutions designed for mid-sized companies, startups, and research institutions like IITs and IIITs across 10 countries. With over 3,000 active clients, E2E Networks is the first company in India to provide both NVIDIA H100 and H200 GPUs as a service on its public cloud.
The company has also formed important partnerships with major companies like NVIDIA, Intel, AMD, HPE, Microsoft, and Dell.
In 2024, E2E Networks has achieved impressive returns of over 620%.
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Source: Moneycontrol
News Desk
