Larsen & Toubro (L&T) is set to acquire a 21 per cent stake in E2E Networks Limited for Rs 14.07 billion. This will expand L&T’s cloud and artificial intelligence (AI) services reach.
L&T will make an investment of Rs 10.79 billion for a 15 per cent stake via preferential allotment and Rs 3.27 billion for an additional six per cent stake through secondary acquisition.
The acquisition is expected to be completed by December 31, 2024. In addition, L&T will remain a minority shareholder with protective rights.
