E2E Networks shares rise 2.5% as QIP launched at floor price of Rs 2,630 per share

E2E Networks shares rise 2.5% as QIP launched at floor price of Rs 2,630 per share

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

"The floor price is Rs 2,630.60 per Equity Share. Pursuant to Regulation 176(1) of the SEBI ICDR Regulations, the Company may at its discretion offer a discount of not more than 5% on the floor price so calculated for the Issue. The Issue Price will be determined by the Company in consultation with the lead manager appointed in relation to the Issue," said the company in a stock exchange filing.

At 9:40 am on February 26, E2E Networks shares on NSE were trading 2.5% higher at Rs 2,625 apiece.

Earlier this month, the company's shares hit 20% upper circuit on intraday basis as Nvidia said the firm is building an Nvidia Blackwell GPU cluster on its TIR platform.

"E2E Networks is building an NVIDIA Blackwell GPU cluster on its TIR platform, hosted at the L&T Vyoma Data Center in Chennai. The TIR cloud compute platform will feature NVIDIA HGX B200 systems and NVIDIA Enterprise software as well as NVIDIA Nemotron open models to supercharge sovereign development across agentic AI, healthcare, finance, manufacturing and agriculture," said Nvidia's Jay Puri.