E2E Networks launches QIP issue, floor price set at ₹2,630.60 per share

Cloud services company E2E Networks Ltd on Wednesday (February 25) announced the launch of a Qualified Institutional Placement (QIP) of equity shares with a face value of ₹10 each.The floor price for the QIP has been set at ₹2,630.60 per equity share, with the company permitted to offer a discount of up to 5% in consultation with the appointed lead manager.

The company’s Fund Raise Committee approved the preliminary placement document and application form dated February 25 and authorised the opening of the issue on the same day.
Also Read: Anant Raj, E2E Networks shares jump on Budget data centre pushLast week, Nvidia announced that it will collaborate with E2E Networks to deliver advanced AI factories. The company, in a filing to the NSE, said that E2E Networks has not entered into any new commercial agreements or negotiations with Nvidia, and today’s announcement pertains to an existing agreement the company has with Nvidia.

It said that “the Company clarifies that it has an existing relationship with NVIDIA that underpins our cloud and AI infrastructure offerings.” E2E Networks added that, “No new negotiations, binding agreements, partnerships, or arrangements with NVIDIA or any other party, beyond what was disclosed … have been entered into by the Company.”

Shares of E2E Networks Ltd ended at ₹2560.60, up by ₹119.50, or 4.90%, on the NSE.

Also Read: E2E Networks shares rise 10% after winning ₹177 crore order from MeitY’s IndiaAI mission