E2E Networks' Shares Bounce 2.5% as Company Launches Qualified Institutional Placement at Floor Price of Rs 2,630 Per Share

E2E Networks Announces Qualified Institutional Placement

On February 26, E2E Networks shares traded 2.5% higher after the artificial intelligence-related firm announced a Qualified Institutional Placement (QIP) at a floor price of Rs 2,630.6 per share.

Pursuant to Regulation 176(1) of the SEBI ICDR Regulations, the company may offer a discount of not more than 5% on the floor price, which will be determined by the company in consultation with the lead manager. At 9:40 am on February 26, E2E Networks shares on the NSE were trading 2.5% higher at Rs 2,625 apiece.

This announcement comes after the company's shares hit a 20% upper circuit on an intraday basis earlier this month. Nvidia had announced that E2E Networks is building an Nvidia Blackwell GPU cluster on its TIR platform, hosted at the L&T Vyoma Data Center in Chennai. The platform will feature NVIDIA HGX B200 systems and NVIDIA Enterprise software, as well as NVIDIA Nemotron open models to support sovereign development in various sectors, including AI, healthcare, finance, manufacturing, and agriculture.

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