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E2E Networks Limited

CIN- L72900DL2009PLC341980

1st Floor, A-24/9, Mohan Cooperative Industrial Estate Mathura Road, New Delhi-110044, Phone No. +91-11-4084-4964

Email : [email protected], website https://www.e2enetworks.com/

Date: May 15, 2025

Listing & Compliance Department The National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra-400051

Ref: NSE Symbol- E2E

Sub: Monitoring Agency Reports for the quarter ended on March 31, 2025

Dear Sir/Madam,

Pursuant to Regulation 162A of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we are enclosing herewith reports of the monitoring agency for the quarter ended March 31, 2025 from Care Ratings Limited dated May 15, 2025 with respect to utilization of proceeds raised by way of Preferential Issue.

The aforesaid information shall also be made available on the website of the Company at https://www.e2enetworks.com/.

Kindly take this on record.

Thanking You,

Yours faithfully,

For E2E Networks Limited

Digitally signed RONIT by RONIT Date: 2025.05.15 16:33:10 +05'30'

Ronit Company secretary & Compliance Officer ICSI M. No.: A59215

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Monitoring Agency (MA) report

No. CARE/NRO/GEN/2025-26/1036

The Board of Directors

E2E Networks Limited

Awfis, First Floor, A-24/9, Mohan Cooperative Industrial Estate Mathura Road, New Delhi-110044.

May 15, 2025

Dear

Monitoring Agency Report for the quarter ended March 31, 2025 - in relation to the Preferential Issue of E2E Networks Limited

We write in our capacity of Monitoring Agency for the Preferential Issue for the amount aggregating to Rs.405.66 crore of the Company and refer to our duties cast under Regulation 162A of the Securities and Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations.

In this connection, we are enclosing the Monitoring Agency Report for the quarter ended March 31, 2025, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated September 11, 2024.

Request you to kindly take the same on records.

Thanking you, Yours faithfully,

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Dhruv Mittal

Assistant Director

[email protected]

CARE Ratings Ltd.

Plot no. C-001 A/2 Sector 16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Berger Tower, Noida, Gautam Budh Nagar (UP) - 201301 Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-120-4452 000 Phone: +91-22-6754 3456

CIN-L67190MH1993PLC071691

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Report of the Monitoring Agency

Name of the issuer: E2E Networks Limited For quarter ended: March 31, 2025 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil

(b) Range of Deviation: Not applicable

Declaration:

We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013.

The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity.

We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of

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Signature:

Name and designation of the Authorized Signatory: Dhruv Mittal Designation of Authorized person/Signing Authority: Assistant Director

CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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1) Issuer Details:

Name of the issuer Name of the promoter Industry/sector to which it belongs

: E2E Networks Limited

: Mr. Tarun Dua, Ms. Srishti Baweja : IT Services - IT Enabled Services

2) Issue Details

Issue Period : September 21, 2024 (Date of allotment) Type of issue (public/rights) : Preferential Issue Type of specified securities : Equity shares IPO Grading, if any : Not applicable Issue size (in crore) : Rs.405.66 crore (gross proceeds of preferential issue)

3)Details of the arrangement made to ensure the monitoring of issue proceeds:

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Source of information / certifications
Comments of the Comments of the
Particulars Reply considered by Monitoring Agency for preparation of report Monitoring Agency Board of Directors
All proceeds from the preferential issue have been
utilized as per the objectives mentioned in the
offer document. However, an amount of Rs.0.98
crore was inadvertently utilized from monitoring
Whether all utilization is as per the disclosures in the Offer Document? Yes CA Certificate, Management certificate, Bank statements, Board Resolution account towards the object defined for a separate No comments
preferential issue of Rs.1079.28 crore (i.e.,
Working capital). On the next working day, the
company reimbursed Rs.0.98 crore from current
account to the monitoring account.
Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Offer Document? No material deviation CA Certificate, Management certificate, Bank statements, Board Resolution Not applicable No comments
Whether the means of finance for the disclosed objects of No CA Certificate, Management certificate Not applicable No comments
the issue have changed?
Is there any major deviation observed over the earlier No Not applicable Not applicable No comments
monitoring agency reports?
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CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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Source of information / certifications
Comments of the Comments of the
Particulars Reply considered by Monitoring Agency for preparation of report Monitoring Agency Board of Directors
Whether all Government/statutory approvals related to the Not applicable Not applicable Not applicable No comments
object(s) have been obtained?
Whether all arrangements pertaining to technical assistance/ Not applicable Not applicable Not applicable No comments
collaboration are in operation?
Are there any favorable/unfavorable events affecting the No Not applicable Not applicable No comments
viability of these object(s)?
Is there any other relevant information that may materially No Not applicable Not applicable No comments
affect the decision making of the investors?
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Where material deviation may be defined to mean:

a) Deviation in the objects or purposes for which the funds have been raised.
b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents.

4)Details of objects to be monitored:

(i) Cost of objects

Sr. No	Item Head	Source of information / certifications considered by Monitoring Agency for preparation of report	Original cost (as per the Offer Document) in Rs. Crore	Revised Cost in Rs. Crore	Comments of the Monitoring Agency	Commen Reason for	ts of the Board of Directors Proposed Particulars of	ts of the Board of Directors Proposed Particulars of
						cost revision	financing option	firm arrangements made
1.	Capital expenditures towards IT equipment	CA Certificate*, Management certificate, Offer document and Board Resolution	254.42	Not applicable	Not applicable	No comments	No comments	No comments
2.	Payment of lease rentals for IT equipment taken on lease	CA Certificate*, Management certificate, Offer document and Board Resolution	39.14	Not applicable	Not applicable	No comments	No comments	No comments
3.	General corporate purpose	CA Certificate*, Management certificate, Offer document and Board Resolution	97.85	Not applicable	Not applicable	No comments	No comments	No comments

CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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CA Certificate, Management
4. Issue-related expenses certificate, Offer document 14.25 Not applicable Not applicable No comments No comments No comments
and Board Resolution
Total (Gross proceeds) 405.66

(ii) Progress in the objects
Comments of the
Amount utilised in Rs. Crore
Source of information Amount as Board of Directors
Total
Sr. Item / certifications proposed As at During At the end unutilised
No Head Monitoring Agency for preparation of report considered by in Rs. Crorein the Offer Document the quarter in beginning of quarter in Rs. the quarter in of the amount in Rs. crore Comments of the Monitoring Agency Reasons for idle funds Proposed course of action
Rs. Crore Rs. Crore
Crore
CA Certificate, The amount of Rs.23.41 crore was utilized
1. Capital expenditures towards IT equipment Management certificate, Offer document, Board 254.42 49.49 23.41 72.90 181.52 during Q4FY25 towards the purchase of IT No comments No comments
Equipment.
Resolution, Bank statements
The amount of Rs.7.06 crore was utilized
CA Certificate, during Q4FY25 towards payment of lease
Payment of lease rentals Management certificate, rentals for IT equipment taken on lease. No No
2. for IT equipment taken Offer document, 39.14 5.81 7.06 12.87 26.27 Out of total, an amount of Rs.0.20 crore comments comments
on lease Board Resolution, was paid through current account during
Bank statements December 2024 and later reimbursed from
monitoring account during January 2025.
CA Certificate,
3. General corporate purpose Management certificate, Offer document, Board 97.85 - - - 97.85 Nil amount utilized during Q4FY25. No comments No comments
Resolution, Bank statements
CA Certificate,
4. Issue-related expenses Management certificate, Offer document, Board 14.25 14.25 - 14.25 - Nil amount utilized during Q4FY25. No comments No comments
Resolution, Bank statements
Total (Gross proceeds) 405.66 69.55 30.47 100.02 305.64
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CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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(iii) Deployment of unutilized proceeds:

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Sr. No. Type of instrument and name of the entity invested in Amount invested(in crore) Maturity date (Earning in crore) Investment Return on (%) end of Market value as at the quarter (in crore)
1 Multiple fixed deposits with Bank of Baroda 61.00 January 22, 2026 0.91 7.88% 61.91
2 Fixed deposit with HDFC Bank 50301087025341 3.50 December 24, 2025 0.07 7.40% 3.57
3 Fixed Deposit with Axis Bank 924040096441214 50.00 October 04, 2025 1.95 7.52% 51.95
4 Fixed Deposit with Axis Bank 924040096645306 50.00 April 18, 2025 1.95 7.55% 51.95
5 Fixed Deposit with Axis Bank 924040096442958 38.00 April 29, 2025 1.46 7.40% 39.46
6 Fixed Deposit with Axis Bank 924040096275415 28.00 October 03, 2025 1.10 7.52% 29.10
7 Fixed Deposit with Axis Bank 924040096275651 25.00 October 03, 2025 0.98 7.52% 25.98
8 Fixed Deposit with Axis Bank 924040096440240 25.00 April 29, 2025 0.96 7.40% 25.96
9 Fixed Deposit with Axis Bank 924040096438904 25.00 April 29, 2025 0.96 7.40% 25.96
10 Special (or monitoring) account Axis Bank 924020054727660 2.37 - - - 2.37
Total unutilized proceeds 307.87 10.34 318.21
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Note: As of March 31, 2025, the total unutilized amount was Rs.305.64 crore whereas total unutilized amount deployed stood at Rs.307.87 crore. The difference between the two amounts is Rs.2.23 crore, which represents the interest income on maturity of fixed deposits.

(iv) Delay in implementation of the object(s)

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Completion Date Delay Comments of the Board of Directors
Objects As per the offer document Actual (no. of days/months) Reason of delay Proposed course of action
Capital expenditures towards IT equipment To be utilized by August 31, 2027 Ongoing Not applicable No comments No comments
Payment of lease rentals for IT equipment taken on lease To be utilized by August 31, 2027 Ongoing Not applicable No comments No comments
General corporate purpose To be utilized by August 31, 2027 Ongoing Not applicable No comments No comments
Issue-related expenses No timeline specified in offer document Utilized during Q3FY25 Not applicable No comments No comments
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5)Details of utilization of proceeds stated as General Corporate Purpose (GCP) amount in the offer document:

CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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Sr. No. Item Head^ Amount in Rs. Crore Source of information / certifications considered by Monitoring Agency for preparation of report Comments of Monitoring Agency
	Comments
	of the Board
	of Directors

Nil amount spent during Q4FY25.	No comments

Disclaimers to MA report:

Monitoring Agency/MA

The MA has taken utmost care to ensure accuracy and objectivity while developing this Report based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever.

b) This Report has to be seen in its entirety; the selective review of portions of the Report may lead to inaccurate assessments. For the purpose of this Report, MA has relied upon the information provided by the management /officials/ consultants of the Issuer and third-party sources like statutory auditors (or from peer reviewed CA firms) appointed by the Issuer believed by it to be accurate and reliable. c) Nothing contained in this Report is capable or intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The MA is also not responsible for any errors in transmission and specifically states that it, or its directors, employees do not have any financial liabilities whatsoever to the users of this Report. d) The MA and its affiliates do not act as a fiduciary. The MA and its affiliates also do not act as an expert to the extent defined under Section 2(38) of the Companies Act, 2013. While the MA has obtained information from sources it believes to be reliable, it does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives from auditors (or from peer reviewed CA firms), lawyers, chartered engineers or other experts, and relies on in its reports. e) The MA or its affiliates may have other commercial transactions with the entity to which the report pertains. As an example, the MA may rate the issuer or any debt instruments / facilities issued or proposed to be issued by the issuer that is subject matter of this report. The MA may receive separate compensation for its ratings and certain credit-related analyses, normally from issuers or underwriters of the instruments, facilities, securities or from obligors.

CARE Ratings Ltd.

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Monitoring Agency (MA) report

No. CARE/NRO/GEN/2025-26/1037

The Board of Directors

E2E Networks Limited

Awfis, First Floor, A-24/9, Mohan Cooperative Industrial Estate Mathura Road, New Delhi-110044.

May 15, 2025

Dear

Monitoring Agency Report for the quarter ended March 31, 2025 - in relation to the Preferential Issue of E2E Networks Limited

We write in our capacity of Monitoring Agency for the Preferential Issue for the amount aggregating to Rs.1,079.28 crore of the Company and refer to our duties cast under Regulation 162A of the Securities and Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations.

In this connection, we are enclosing the Monitoring Agency Report for the quarter ended March 31, 2025, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated November 26, 2024.

Request you to kindly take the same on records.

Thanking you,

Yours faithfully,

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Dhruv Mittal

Assistant Director

[email protected]

CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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Report of the Monitoring Agency

Name of the issuer: E2E Networks Limited For quarter ended: March 31, 2025 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil

(b) Range of Deviation: Not applicable

Declaration:

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Signature:

Name and designation of the Authorized Signatory: Dhruv Mittal Designation of Authorized person/Signing Authority: Assistant Director

CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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1) Issuer Details:

Name of the issuer Name of the promoter Industry/sector to which it belongs

: E2E Networks Limited

: Mr. Tarun Dua, Ms. Srishti Baweja : IT Services - IT Enabled Services

2) Issue Details

Issue Period Type of issue (public/rights) Type of specified securities IPO Grading, if any Issue size (in crore)

: December 04, 2024 (Date of allotment) : Preferential Issue : Equity shares : Not applicable : Rs.1,079.28 crore (gross proceeds of preferential issue)

3)Details of the arrangement made to ensure the monitoring of issue proceeds:

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Source of information / certifications
Comments of the
Particulars Reply considered by Monitoring Agency for Comments of the Monitoring Agency Board of Directors
preparation of report
All the proceeds from preferential issue have
Whether all utilization is as per the disclosures in the Offer Document? Yes Bank statements, Board Resolution, CA Certificate, Management certificate been utilized as per objectives mentioned in the offer documents. No comments
Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Offer Document? No material deviation Bank statements, Board Resolution, CA Certificate, Management certificate Not applicable No comments
Whether the means of finance for the disclosed objects of No CA Certificate, Management certificate Not applicable No comments
the issue have changed?
Is there any major deviation observed over the earlier No Not applicable Not applicable No comments
monitoring agency reports?
Whether all Government/statutory approvals related to the Not applicable Not applicable Not applicable No comments
object(s) have been obtained?
Whether all arrangements pertaining to technical assistance/ Not applicable Not applicable Not applicable No comments
collaboration are in operation?
Are there any favorable/unfavorable events affecting the No Not applicable Not applicable No comments
viability of these object(s)?
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CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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Particulars	Reply	Source of information / certifications considered by Monitoring Agency for preparation of report	Comments of the Monitoring Agency	Comments of the Board of Directors
* Is there any other relevant information that may materially affect the decision making of the investors?	No	Not applicable	Not applicable	No comments

Where material deviation may be defined to mean:

a) Deviation in the objects or purposes for which the funds have been raised.

b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents.

4)Details of objects to be monitored:

(i) Cost of objects

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Source of information Original cost Comments of the Board of Directors
No Sr. Item Head / certifications considered by (as per the Offer Revised Cost in Rs. Crore the Monitoring Comments of Reason for cost Proposed financing Particulars of firm
Monitoring Agency for preparation of report in RDocument) s. Crore Agency revision option arrangements made
CA Certificate,
1. Capital expenditures towards IT Equipment Management certificate 729.28 Not applicable Not applicable No comments No comments No comments
and Offer document
CA Certificate,
2. Repayment of outstanding loan including interest accrued thereon Management certificate 100.00 Not applicable Not applicable No comments No comments No comments
and Offer document
CA Certificate,
3. General corporate purposes Management certificate, Offer document and 150.00 Not applicable Not applicable No comments No comments No comments
Board resolution
CA Certificate,
4. Working capital Management certificate 100.00 Not applicable Not applicable No comments No comments No comments
and Offer document
Total (Gross proceeds) 1,079.28
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CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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	(ii) Progress in the objects	(ii) Progress in the objects
Sr. No	Item Head Source of information / certifications considered by Monitoring Agency for preparation of report		Amount as proposed in the Offer				Total unutilised	Comments of the Monitoring	Comments of the Board of Directors Reasons Proosed
				Amount utilised in R As at beinnin During the		s. Crore At the end of
			Document in Rs. Crore	gg of the quarter in Rs. Crore	quarter in Rs. Crore	the quarter in Rs. Crore	amount in Rs. crore	Agency	for idle funds	p course of action
1.	Capital expenditures towards IT Equipment CA Certificate*, Management certificate, Bank Statements		729.28	-	6.49	6.49	722.79	The total amount of Rs.6.49 crore was utilized in Q4FY25 towards the purchase of IT Equipment.	No comments	No comments
2.	Repayment of outstanding loan including interest accrued thereon CA Certificate*, Management certificate, Bank Statements		100.00	77.52	21.28	98.80	1.20	The total amount of Rs.21.28 crore was utilized in Q4FY25 towards the repayment of outstanding loans and payment of interest thereon. The amounts were first transferred and later on those current accounts were debited to repay outstanding loans including accrued interest.	No comments	No comments
3.	General corporate purposes	CA Certificate*, Management certificate, Bank Statements and Board resolution	150.00	0.47	-	0.47	149.53	Nil amount utilized during Q4FY25.	No comments	No comments
4.	Working capital	CA Certificate*, Management certificate, Bank Statements	100.00	3.28	7.76	11.04	88.96	The total amount of Rs.7.76 crore was utilized in Q4FY25 towards the payment to vendors in relation to data centres, pass through license purchase and subscriptions. Out of total, a vendor payment of Rs.0.98 crore was made through the bank account other than the monitoring account and on next working day, the amount was reimbursed from	No comments	No comments

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5
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CARE Ratings Ltd.
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CIN-L67190MH1993PLC071691

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Source of Comments of the
Amount as Amount utilised in Rs. Crore
information / Board of Directors
NoSr. Head Item Monitoring Agency considered by certifications in the Offer Document proposed in Rs. beginning of the As at quarter During the end of At the the amount in unutilised Rs. crore Total Comments of the Monitoring Agency Reasons for idle Proposed course of
for preparation of Crore quarter in in Rs. quarter in funds action
report Rs. Crore Crore Rs. Crore
monitoring account to the current
account of the company.
Total (Gross proceeds) 1,079.28 81.28 35.53 116.81 962.47

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(iii) Deployment of unutilized proceeds:	(iii) Deployment of unutilized proceeds:
Sr. No.	Type of instrument and name of the entity invested in	Amount invested (in crore)	Maturity date	Earning (in crore)	Return on Investment (%)	Market value as at the end of quarter (in crore)
1	Multiple fixed deposits with Bank of Baroda	500.00	December 04,2025	12.69	7.85%	512.69
2	Fixed Deposit with Axis Bank 924040110143788	250.00	October 06,2025	6.10	7.55%	256.10
3	Mutual Fund SBI Liquid Fund Direct Growth	212.47	-	4.89	7.16%	217.36
4	Monitoringaccount Axis Bank Special Second account 924020068229565	0.19	-	-	-	0.19
	Total unutilizedproceeds	962.66		23.68		986.34

Note 1: As per the offer document dated November 05, 2024, the company can deploy the unutilized interim proceeds in money/debt market instruments. However, in the offer document, it was not specifically defined that unutilized proceeds can be deployed in mutual funds. The company started deploying unutilized proceeds in mutual funds from December 2024 onwards. Vide board resolution dated January 22, 2025; the board of directors ratified that the company could deploy the interim unutilized proceeds by way of investment in mutual funds categorized under money and debt market instruments.

Note 2: As of March 31, 2025, the total unutilized amount was Rs.962.47 crore whereas total unutilized amount deployed stood at Rs.962.66 crore. The difference between the two amounts is Rs.0.19 crore, which represents the profit on redemption of mutual fund units.

(iv) Delay in implementation of the object(s)

CIN-L67190MH1993PLC071691

CARE Ratings Ltd.

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Completion Date Delay Comments of the Board of Directors
Objects As per the offer document Actual (no. of days/ months) Reason of delay Proposed course of action
Capital expenditures towards IT Equipment To be utilized by November 2029 Ongoing Not applicable No comments No comments
Repayment of outstanding loan including interest accrued thereon To be utilized by November 2029 Ongoing Not applicable No comments No comments
General corporate purposes To be utilized by November 2029 Ongoing Not applicable No comments No comments
Working capital To be utilized by November 2029 Ongoing Not applicable No comments No comments
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5)Details of utilization of proceeds stated as General Corporate Purpose (GCP) amount in the offer document:

			Source of information /	Source of information /
Sr. No	. Item Head^	Amount in Rs. Crore	certifications considered by Monitoring Agency for Comments of Monitoring Agency		Comments of the
					Board of Directors
			preparation of report
1.	Issue-related expenses for an amount up to Rs.1.00 crore	** -	CA Certificate*, Management certificate, Offer document and Board resolution	Nil amount utilized during Q4FY25.	No comments

CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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Disclaimers to MA report:

Monitoring Agency/MA

CARE Ratings Ltd.

AI assistant

E2E Networks Limited — Audit Report / Information 2025

60804_rns_2025-05-15_dd5d0b60-9e44-4d09-94ab-abf14f9ff95a.pdf

E2E Networks Limited

CIN- L72900DL2009PLC341980

For E2E Networks Limited

Monitoring Agency (MA) report

No. CARE/NRO/GEN/2025-26/1036

The Board of Directors

E2E Networks Limited

Monitoring Agency Report for the quarter ended March 31, 2025 - in relation to the Preferential Issue of E2E Networks Limited

Dhruv Mittal

Report of the Monitoring Agency

Declaration:

1) Issuer Details:

2) Issue Details

3)Details of the arrangement made to ensure the monitoring of issue proceeds:

Where material deviation may be defined to mean:

4)Details of objects to be monitored:

(i) Cost of objects

(iii) Deployment of unutilized proceeds:

(iv) Delay in implementation of the object(s)

Disclaimers to MA report:

Monitoring Agency/MA

Monitoring Agency (MA) report

No. CARE/NRO/GEN/2025-26/1037

The Board of Directors

E2E Networks Limited

Monitoring Agency Report for the quarter ended March 31, 2025 - in relation to the Preferential Issue of E2E Networks Limited

Dhruv Mittal

Report of the Monitoring Agency

Declaration:

1) Issuer Details:

2) Issue Details

3)Details of the arrangement made to ensure the monitoring of issue proceeds:

Where material deviation may be defined to mean:

4)Details of objects to be monitored:

(i) Cost of objects

5)Details of utilization of proceeds stated as General Corporate Purpose (GCP) amount in the offer document:

Disclaimers to MA report:

Monitoring Agency/MA

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E2E Networks Limited Audit Report / Information 2025