L&T to acquire 21% stake in E2E Networks for Rs 14.07 Bn
ECONOMY & POLICY

L&T to acquire 21% stake in E2E Networks for Rs 14.07 Bn

Infrastructure major Larsen & Toubro (L&T) said it will acquire 21% stake in E2E Networks Ltd, a cloud services company, for Rs 14.07 billion. The move assumes significance as it will increase L&T's reach in cloud and AI services -- the key growth areas in the technology sector.

"The company has entered into an investment agreement on November 5, 2024 for the acquisition of up to 21 % stake in E2E Networks Ltd," L&T said in a regulatory filing. L&T will make an investment of Rs 10.79 billion for a 15 % stake via preferential allotment and Rs 3.27 billion for an additional six % stake through secondary acquisition, the filing said.

The acquisition of stake in E2E Networks is likely to be completed by December 31. L&T will not acquire control in E2E Networks and will be a minority shareholder with certain protective rights.

Infrastructure major Larsen & Toubro (L&T) said it will acquire 21% stake in E2E Networks Ltd, a cloud services company, for Rs 14.07 billion. The move assumes significance as it will increase L&T's reach in cloud and AI services -- the key growth areas in the technology sector. The company has entered into an investment agreement on November 5, 2024 for the acquisition of up to 21 % stake in E2E Networks Ltd, L&T said in a regulatory filing. L&T will make an investment of Rs 10.79 billion for a 15 % stake via preferential allotment and Rs 3.27 billion for an additional six % stake through secondary acquisition, the filing said. The acquisition of stake in E2E Networks is likely to be completed by December 31. L&T will not acquire control in E2E Networks and will be a minority shareholder with certain protective rights.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code