Larsen & Toubro Raises Stake In E2E Networks To Nearly 19%

Larsen & Toubro Ltd. on Thursday said it had acquired 595,916 shares, or a 2.98% stake, in cloud computing solutions provider E2E Networks Ltd. from the promoter. With this, the company now holds 18.99% of the paid-up share capital in E2E Networks, it said in an exchange filing.

In November, Larsen & Toubro had signed an investment agreement to acquire up to 21% stake in E2E Networks. It had planned to purchase a 15% stake via preferential allotment for ₹10.79 billion and the remaining 6% through a secondary deal worth ₹3.28 billion.

A month later, the company confirmed completion of the 15% acquisition.