Shares of E2E Networks Ltd surged 6.11% to ₹2,550 on Tuesday, September 2, after the company announced securing a major government order worth ₹177 crore from the Ministry of Electronics and Information Technology (MeitY) under the IndiaAI Mission.
In a regulatory update, the company said it has received a formal letter from MeitY for the immediate allocation of H100 SXM and H200 SXM GPU resources to GNANI AI, a step aimed at building India’s foundational AI model.
According to E2E, the contract involves the supply of GPU resources for 360 days, amounting to nearly 1.3 crore GPU hours (1,29,94,560). The GPUs will be deployed with an advanced InfiniBand (IB) network on a single fabric, ensuring high-performance and scalability for AI workloads.
The company emphasized that this order significantly strengthens its role in India’s national AI infrastructure ecosystem, aligning with the government’s broader vision of positioning India as a global AI hub.
Separately, on August 28, E2E’s board approved the acquisition of specific assets of Coimbatore-based Jarvis Labs AI Pvt Ltd, a GPU cloud infrastructure startup focused on AI and deep learning. The deal includes Jarvis Labs’ IP, hardware, domain, and customer assets, further bolstering E2E’s AI/ML offerings.
The combination of a large government order and strategic acquisition has boosted investor confidence, reflected in the sharp rise in E2E’s stock price during Tuesday’s trading session.