E2E Networks Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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E2E Networks has confirmed there is no deviation or variation in the use of funds raised through two preferential allotments during the quarter ended March 31, 2025. The first issue of Rs. 405.66 crore (raised on September 21, 2024) saw Rs. 100.02 crore deployed, mainly into IT equipment capex (Rs. 72.90 cr), lease rentals for IT equipment (Rs. 12.87 cr), and issue-related expenses (Rs. 14.25 cr). The second issue of Rs. 1,079.28 crore (raised on December 4, 2024) saw Rs. 116.81 crore used, with Rs. 98.80 crore going toward loan repayment, Rs. 11.04 crore for working capital, and Rs. 6.49 crore for IT equipment capex. Care Ratings Limited is acting as the monitoring agency for both issues and the Audit Committee has reviewed the statements with no comments or concerns raised. General corporate purpose utilization in both issues is minimal so far.
This is a routine compliance filing confirming that funds are being deployed in line with the stated objects — a positive governance signal for shareholders. Investors should note the relatively low utilization so far (about 25% in the September issue and 11% in the December issue), which is expected given the heavy IT capex nature of the plans. No negative implications for the stock from this filing.