Cloud infrastructure provider E2E Networks Ltd. on Monday said it had signed a binding term sheet worth approximately Rs 1,000 crore with an India-based sovereign artificial intelligence company to supply NVIDIA Blackwell cloud GPUs and related services, according to an exchange filing.
The contract, valued at approximately Rs 1,000 crore excluding applicable taxes, will remain in effect through June 2029.
E2E Networks said the deal strengthens its focus on securing long-term customers as demand for high-performance computing infrastructure grows alongside the rapid adoption of artificial intelligence.
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Under the arrangement, the company will provide long-term AI infrastructure, including cloud-based NVIDIA GPUs and related services.
E2E Networks said the customer is a domestic entity and has no relationship with its promoter, promoter group or group companies.
Accordingly, the transaction does not qualify as a related-party transaction, the company said in a stock exchange filing.
The development comes on the same day that the company's board approved a proposal to raise up to Rs 1,500 crore through routes including a Qualified Institutions Placement (QIP), rights issue, follow-on public offer (FPO) or other permitted modes.
The proposed fundraising could involve the issuance of equity shares or other eligible securities through public or private offerings.
The capital is expected to support E2E Networks' efforts to expand its infrastructure capacity as demand for AI and high-performance computing services continues to grow.
E2E Networks has been expanding its presence in the AI infrastructure segment, offering cloud computing services, GPU-powered infrastructure and its TIR AI/ML platform to businesses and developers building and deploying AI applications.
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The company had also secured an order under the IndiaAI Mission and began work on the project earlier this year, further strengthening its position in India's emerging AI computing ecosystem.
Separately, the board approved the convening of the company's 17th Annual General Meeting on Sept. 28, 2026.
Shares of E2E Networks closed at Rs 618.75 on the BSE on Monday, gaining Rs 1.85, or 0.30%.
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