E2E Networks drops on plan to raise Rs 1,000 crore

E2E Networks declined 3.43% to Rs 3,332.40 after the board approved plans to raise up to Rs 1,000 crore.

The funds may be raised through public offerings, rights issues, private placements, or qualified institutional placements. The move is subject to shareholder and regulatory approvals.

The board also approved an increase in authorised share capital. It will rise from Rs 25 crore to Rs 50 crore. The company will amend its Memorandum of Association to reflect the change.

In addition, the board approved the re-appointment of managing director Tarun Dua and whole-time director Srishti Baweja for a five-year term each. Their new terms will run from 31 January 2026, to 30 January 2031. Shareholder approval will be sought through a postal ballot.

 

E2E said it will issue a postal ballot notice to seek shareholder approvals for these resolutions.

NSE-listed E2E Cloud is a public cloud provider focused on AI workloads. Its Sovereign Cloud Platform is supported by advanced GPU infrastructure, including NVIDIA Hopper GPUs and NVIDIA L40S. Through its TIR AI/ML platform, the company provides computing power for developers, researchers, and creatives.

The company reported standalone net loss of Rs 2.84 crore in Q1 FY26 compared with net profit of Rs 10.14 crore in Q1 FY25. Net sales declined 12.6% YoY to Rs 36.11 crore in Q1 FY26.

Powered by Capital Market - Live News