E2E Networks on Monday said it had issued shares to major names such as ace investor Ashish Kacholia and Gauri Khan Family Trust.

What Happened: The firm carried out a preferential issue and allotment of up to 24.81 lakh shares at an issue price of ₹1,694.50, as per a filing to stock exchanges.

Kacholia has been allotted 1.77 lakh shares in the company for a total cost of around ₹29.99 crore. The Gauri Khan Family Trust has been allotted 23,605 shares at a total cost of ₹3.99 crore.

NAV Cap Fund also participated in the issue. NAV Capital Emerging Star Fund was allotted 1.94 lakh shares for a total cost of ₹32.99 crore. In total, the company has raised around ₹420 crore from over 100 participants.

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E2E Networks specialises in advanced cloud-based graphic processing infrastructure. The company is known for its accelerated cloud computing solutions, offering state-of-the-art cloud GPUs, including NVIDIA A100 and H100 GPUs, with the upcoming H100 on the Cloud.

In the June quarter, the company reported net sales of ₹41.33 crore, marking a 112.41% increase from ₹19.46 crore from the year-ago period. Net profit stood at ₹10.14 crore in June 2024, up 45.49% from ₹6.97 crore in the same quarter the previous year.

Price Action: Shares of the company were locked in the 5% upper circuit at ₹2,163.90 on Monday.

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