E2E Networks bags ₹1,000 crore term sheet from sovereign AI company for NVIDIA Blackwell GPUs

Cloud infrastructure company E2E Networks Ltd on Monday (August 31) said it has entered into a binding term sheet with a sovereign artificial intelligence (AI) company based in India for providing NVIDIA Blackwell cloud graphics processing units (GPUs) and allied services.

The arrangement has an aggregate contract value of approximately ₹1,000 crore, excluding applicable taxes, and remains valid until June 2029. The company said the engagement is a significant milestone in its strategy of signing up longer-term customers.

“….we wish to inform you that the company has entered into the binding term sheet with a Sovereign AI company based in India requiring high-performance computing infrastructure, for the provision of NVIDIA Blackwell cloud GPUs and allied services.

ALSO READ | E2E Networks board approves ₹1,500 crore fundraise via QIP, other routes

The arrangement has an aggregate contract value of approximately ₹1,000 crore (exclusive of applicable taxes) and remains valid up to June, 2029,” according to a stock exchange filing.

Under the term sheet, E2E Networks will provide long-term AI infrastructure comprising cloud GPUs and allied services. The customer is a domestic entity, and the services are to be provided up to June 2029.

E2E Networks said the sovereign AI company has no relationship with the company’s promoter, promoter group or group companies. The contract does not fall under related-party transactions.

ALSO READ | E2E Networks starts work on ₹177 cr IndiaAI Mission order, to go live by Jan 2026

Earlier today, E2E Networks’ board approved a plan to raise up to ₹1,500 crore through a Qualified Institutions Placement (QIP), rights issue, follow-on public offer (FPO) or other permitted routes, as the cloud and AI infrastructure provider looks to expand capacity amid strong demand from the artificial intelligence ecosystem.

The company said the board approved the fundraise at its meeting on August 31. The proposed issue may involve equity shares or other eligible securities through a public or private offering to investors. E2E Networks also approved the convening of its 17th Annual General Meeting on September 28, 2026.

The company provides cloud computing and AI infrastructure services, including GPU-powered infrastructure and its TIR AI/ML platform, catering to businesses and developers building and deploying AI and other compute-intensive applications.

Shares of E2E Networks Ltd ended at ₹618.75, up by ₹1.85, or 0.30%, on the BSE.

ALSO READ | E2E Networks launches QIP issue, floor price set at ₹2,630.60 per share