Submission of Monitoring Agency Reports for the quarter ended March 31, 2026 by E2E Networks Limited
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E2E Networks Limited has submitted three Monitoring Agency reports from CARE Ratings Limited for the quarter ended March 31, 2026, covering the utilization of proceeds from two preferential issues (Rs. 405.66 crore allotted Sept 21, 2024, and Rs. 1,079.28 crore allotted Dec 4, 2024) and a QIP issue of Rs. 107 crore. CARE Ratings confirmed no deviation from the stated objects and no material deviation from the offer document. Shareholders at the September 26, 2025 AGM approved reallocating unutilized 'General Corporate Purpose' funds toward capital expenditure on IT equipment. For the Rs. 405.66 crore issue, Rs. 355.51 crore has been utilized with Rs. 50.15 crore remaining unutilized (parked in Axis Bank FDs and monitoring account). For the Rs. 1,079.28 crore issue, Rs. 1,002.20 crore has been deployed with Rs. 77.08 crore still unutilized (held in Axis Bank FDs earning ~5.9%). All statutory approvals are in place and there are no adverse events affecting project viability.
This is a routine regulatory disclosure showing that funds raised from recent preferential and QIP issues are being deployed as planned, mostly toward IT infrastructure (servers, network equipment) and working capital. No red flags on misuse of funds, though about Rs. 127 crore across both preferential issues remains parked in bank FDs/monitoring accounts pending deployment, which is normal given the August 2027 utilization timeline. Neutral to mildly positive for shareholders as it confirms disciplined use of raised capital.