Larsen & Toubro (L&T) has recently informed exchanges that it will acquire a 21% stake in E2E Networks Limited, a prominent Indian cloud services company, for INR 1,407 crore. Expected to be completed by December 31, 2024, this investment enhances L&T’s reach in cloud and AI services, key growth areas in the tech industry.
L&T will invest INR 1,079.27 crore for a 15% stake through preferential allotment and INR 327.75 crore for an additional 6% stake via secondary acquisition. The company will not acquire control and will be a minority shareholder with certain protective rights.
This acquisition allows L&T to strategically position itself in India’s expanding AI and cloud services market, aligning with its broader digital transformation initiatives.
