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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: November 13, 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 September 30, 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 September 30, 2025 from Care Ratings Limited dated November 12, 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: 2025.11.13 11:31:05 +05'30'

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

November 12,2025

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No. CARE/NRO/GEN/2025-26/1118 The Board of Directors E2E Networks Limited

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

Monitoring Agency Report for the quarter ended September 30,2025- in relation of the Preferential Issue of

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 September 30,2025, as per the aforesaid SEBI Regulations and Monitoring Agency Agreement dated November 26, 2024.

Request you to kindly take the same on records.

Thank you, Yours faithfully,

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Dhruv Mittal

Assistant Director [email protected]

CARE Ratings Ltd. 4th Floor, Godrej Coliseum, Somaiya Hospital Road,

Plot no. C-001 A/2 Sector 16B Off Berger Tower, Noida, Gautam Budh Nagar (UP) - 201301 Eastern - 400 022

Highway, Sion (East), Mumbai

Phone: +91-120-4452 000 Phone: +91-22-6754 3456

-L67190MH1993PLC071691

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Report of the Monitoring Agency

Name of the issuer: E2E Networks Ltd For quarter ended: September 30,2025 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 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

Signature

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

CARE Ratings Ltd. 4th Floor, Godrej Coliseum, Somaiya Hospital Road,

Berger Tower, Noida, Gautam Budh Nagar (UP) - 201301 Eastern - 400 022

Highway, Sion (East), Mumbai

Phone: +91-120-4452 000 Phone: +91-22-6754 3456

Plot no. C-001 A/2 Sector 16B Off

-L67190MH1993PLC071691

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1) Issuer Details:

Name of the issuer : E2E Network Limited Name of the promoter : Mr. Tarun Dua, Mrs. Srishti Baweja Industry/sector to which it belongs : IT Services - IT Enabled Services

2) Issue Details

Issue Period : December 04, 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.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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Comments of
Source of information / certifications
Comments of the the
Particulars Reply considered by Monitoring Agency for
Monitoring Agency Board of
preparation of report
Directors
Whether all utilization is as per the disclosures in the Offer Yes Bank statements, Special Resolution, Proceeds from preferential issues No comments
Document? CA Certificate, Management certificate during Q2FY26 have been utilized
as per objects mentioned in the
offer documents.
A special resolution passed at
annual general meeting held on
September 26, 2025, where
members of the company have
approved the following:
Reallocation of the remaining
portion of unutilized funds
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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 Highway, Sion (East), Mumbai - 400 022 Phone: +91-120-4452 000 Phone: +91-22-6754 3456

-L67190MH1993PLC071691

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Comments of
Source of information / certifications
Comments of the the
Particulars Reply considered by Monitoring Agency for
Monitoring Agency Board of
preparation of report
Directors
previously allocated towards
to capital expenditure
towards IT equipment.
The Company can pledge or
create charge/lien over the
unutilized funds for the
purpose of availing credit
facilities including but not
limited to Letters of Credit
(LC), Bank Guarantees (BG), or
any other fund-based/non-
fund-based facilities from
banks or financial institutions,
provided that such facilities
shall be used strictly within
the overall limits for the
specific purposes as approved
by the shareholders.
Whether shareholder approval has been obtained in case of No material Bank statements, Not applicable No comments
material deviations# from expenditures disclosed in the deviation CA Certificate, Management certificate
Offer Document?
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
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CARE Ratings Ltd.

-L67190MH1993PLC071691

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Comments of
Source of information / certifications
Comments of the the
Particulars Reply considered by Monitoring Agency for
Monitoring Agency Board of
preparation of report
Directors
monitoring agency reports?
Whether all Government/statutory approvals related to the Yes Management Certificate Not applicable No comments
object(s) have been obtained?
Whether all arrangements pertaining to technical Yes Management Certificate Not applicable No comments
assistance/collaboration are in operation?
Are there any favorable/unfavorable events affecting the No Management Certificate Not applicable No comments
viability of these object(s)?
Is there any other relevant information that may materially No comments
No Management Certificate Not applicable
affect the decision making of the investors?
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CA certificate dated October 13,2025, from M/s G S A & Associates LLP, Chartered Accountants (Statutory auditor).

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

CARE Ratings Ltd.

-L67190MH1993PLC071691

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Comments of the Board of Directors
Source of information / Original cost
Reaso
certifications (as per the Revised Particulars of -
Sr. Item n for
considered by Offer Cost Comments of the Monitoring Agency Proposed firm
No Head cost
Monitoring Agency for Document) in in Rs. Crore financing option arrangements
revisi
preparation of report Rs. Crore made
on
1 Capital expenditures CA Certificate, 729.28 878.40 A special resolution passed in No No comments No comments
towards IT Equipment Management certificate, annual general meeting held on comm
Board Resolution and September 26, 2025, where ents
Offer document members of the company have
approved to reallocate the
remaining portion of unutilized
funds previously allocated
ture
towards IT equipment.
2 Repayment of CA Certificate, 100.00 100.00 - No No comments No comments
outstanding loan Management certificate comm
including interest and Offer document ents
accrued thereon
3 General corporate CA Certificate, 150.00 0.88 A special resolution passed in annual No No comments No comments
purposes Management certificate, general meeting held on September comm
Offer document and 26, 2025, where members of the ents
Board resolution company have approved to reallocate
the remaining portion of unutilized
funds previously allocated towards
expenditure towards IT equipment.
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CARE Ratings Ltd.

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----- Start of picture text -----

-L67190MH1993PLC071691
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CA certificate dated October 13, 2025, from M/s G S A & Associates LLP, Chartered Accountants (Statutory auditor)

(ii)Progress in the objects	(ii)Progress in the objects	(ii)Progress in the objects
Sr. No	Item Head		Amount in (Rs crores) as per original offer document	Revised Amount as proposed after special Resolution passed in annual general meeting held on September 26,2025 (in Rs. Crore)	Amount			Total		Comments of the Board of Directors
		Source of				utilised in R	s. Crore
		information
					As at beginning of the quarter in Rs. Crore	During the quarter in Rs. Crore				Reasons for idle funds	Proposed course of action
		/
		certifications
							At the	unutilised	Comments of
		considered
							end of	amount	the Monitoring
		by
							the	in Rs.	Agency
		Monitoring
							quarter i	crore
		Agency for
							n Rs. Crore
		preparation
		of report

1.	Capital expenditures towards IT Equipment	CA Certificate*, Management certificate,	729.28	878.40	697.21	7.09	704.30	174.10	The total amount of Rs.7.09 crore was utilized in	No comments	No comments

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 Highway, Sion (East), Mumbai - 400 022 Phone: +91-120-4452 000 Phone: +91-22-6754 3456 -L67190MH1993PLC071691

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Sr. No	Item Head		Amount in (Rs crores) as per original offer document	Revised Amount as proposed after special Resolution passed in annual general meeting held on September 26,2025 (in Rs. Crore)	Amount			Total		Comments of the Board of Directors	Comments of the Board of Directors
		Source of				utilised in R	s. Crore
		information
					As at beginning of the quarter in Rs. Crore	During the quarter in Rs. Crore				Reasons for idle funds	Proposed course of action
		/
		certifications
							At the	unutilised	Comments of
		considered
							end of	amount	the Monitoring
		by
							the	in Rs.	Agency
		Monitoring
							quarter i	crore
		Agency for
							n Rs. Crore
		preparation
		of report

		Bank Statements, Special resolution							Q2FY26 towards the purchase of IT Equipment.
2.	Repayment of outstanding loan including interest accrued thereon	CA Certificate*, Management certificate, Bank Statements, Special resolution	100.00	100.00	100.00	-	100.00	-	-	No comments	No comments
3.	General corporate purposes	CA Certificate*, Management certificate, Bank Statements	150.00	0.88	0.88	-	0.88	-	-	No comments	No comments

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Amount in (Rs Revised Comments of the
Source of Amount utilised in Rs. Crore
crores) as per Amount as Board of Directors
information
original offer proposed
/
document after special Total
certifications As at At the
Sr. Item considered Resolution passed in beginning During the end of unutilised amount the Monitoring Comments of Reasons Proposed
No Head by of the the
annual general quarter in Rs. Agency for idle course of
Monitoring quarter quarter
meeting held in Rs. crore funds action
Agency for in Rs. in Rs.
on September Crore
preparation Crore Crore
26,2025 (in Rs.
of report
Crore)
and special
resolution
4. Working CA 100.00 100.00 16.91 1.00 17.91 82.09 The total No No
capital Certificate, amount of comments comments
Management Rs.1.00 crore
certificate, was utilized in
Bank Q2FY26 towards
Statements the payment to
vendors in
relation to data
centres, pass
through license
purchase and
subscriptions.
Total 1079.28 815.00 8.09 823.09 256.19
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*CA certificate dated July 17, 2025, from M/s G S A & Associates LLP, Chartered Accountants (Statutory auditor).

(iii) Deployment of unutilized proceeds:

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Market value as at
Type of instrument and name of the Amount invested Earning (Rs Return on the end of the
Sr. No Maturity date
entity invested in (in crore) crores) Investment (%) quarter
(in crore)
1 Fixed deposits with Bank of Baroda 256.00 December 04, 2025 15.24 7.85% 271.25
2 Mutual Fund SBI Liquid Fund Direct 0.08 - - - 0.08
Growth
3 Monitoring account Axis Bank Special 0.11 - - - 0.11
Second account 924020068229565
Total unutilized proceeds 256.19
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*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. ** The company approved authorize the Company to pledge or create charge/lien over the unutilized funds for the purpose of availing credit facilities including but not limited to Letters of Credit (LC), Bank Guarantees (BG), or any other fund-based/non-fund-based facilities from banks or financial institutions, provided that such facilities shall be used strictly within the overall limits for the specific purposes as approved by the shareholders.

Comments

As per management certificate received by CARE, unutilized amount of Rs 256.19 crores as on September 30,2025 is free and not line marked, however CARE has not been able to obtain any third-party verification or CA Certification on the same.

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

Objects	Completion	Date	Delay	Comments of t	he Board of Directors
	As per the offer document	Actual	(no. of days/	Reason of	Proposed course
			months)	delay	of action
Capital expenditures towards IT Equipment	To be utilized byNovember 2029	Ongoing	Not applicable	No comments	No comments
Repayment of outstanding loan including interest accrued thereon To be utilized by November 2029		Complete amount utilized tillQ1FY26	No delay	No comments	No comments
General corporate purposes	To be utilized by November 2029	Complete amount utilized tillQ1FY26	No delay	No comments	No comments

CARE Ratings Ltd.

-L67190MH1993PLC071691

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Completion Date Delay Comments of the Board of Directors
Objects (no. of days/ Reason of Proposed course
As per the offer document Actual
months) delay of action
Working capital To be utilized by November 2029 Ongoing Not applicable No comments No comments
5) Details of utilization of proceeds stated as General Corporate Purpose (GCP) amount in the offer document:
Source of information /
Amount certifications considered by Comments of the
Sr. No. Item Head^ Comments of Monitoring Agency
in Rs. Crore Monitoring Agency for Board of Directors
preparation of report
Nil amount spent during Q2FY26 No comments
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^ Section from the offer document related to GCP: Detail of utilization of proceeds stated as general corporate purpose amount is not given in the offer document.

CARE Ratings Ltd.

-L67190MH1993PLC071691

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Disclaimers to MA report:

a) This Report is prepared by CARE Ratings Ltd (hereinafter referred to as

). 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 auditor (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 statutory 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

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Monitoring Agency (MA) report

No. CARE/NRO/GEN/2025-26/1117 The Board of Directors

E2E Networks Limited

Awfis, First Floor, A-24/9, Mohan Cooperative Industrial Estate Mathura Road, New Delhi-110044. November 12, 2025

Monitoring Agency Report for the quarter ended September 30, 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 & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations.

In this connection, we are enclosing the Monitoring Agency Report for the quarter ended September 30,2025 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

-L67190MH1993PLC071691

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Report of the Monitoring Agency

Name of the issuer: E2E Networks Limited For quarter ended: September 30, 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, where 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 respons

Signature:

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

-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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Comments of
Source of information / certifications Comments of the the
Particulars Reply considered by Monitoring Agency for Monitoring Agency Board of
preparation of report Directors
Proceeds from preferential issue No comments
during Q2FY26 have been utilized as received
per the objects mentioned in the offer
document.
A special resolution passed at annual
general meeting held on September
26, 2025 where members of the
company have approved the following:
Reallocation of the remaining
Whether all utilization is as per the disclosures in the Offer Document? Yes CA certificate, Management certificate, Bank statements, Special Resolution portion of unutilized funds
previously allocated towards
to capital expenditure
towards IT equipment.
Company to pledge or create
charge/lien over the
unutilized funds for the
purpose of availing credit
facilities including but not
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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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Comments of
Source of information / certifications
Comments of the the
Particulars Reply considered by Monitoring Agency for Monitoring Agency Board of
preparation of report Directors
limited to Letters of Credit
(LC), Bank Guarantees (BG),
or any other fund-based/non-
fund-based facilities from
banks or financial
institutions, provided that
such facilities shall be used
strictly within the overall
limits for the specific
purposes as approved by the
shareholders.
Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Offer Document? No deviationmaterial CA certificate, Management certificate, Bank statements, Special Resolution Not applicable No receivedcomments
Whether the means of finance for the disclosed objects of the issue have changed? No CA certificate, Management certificate Not applicable No receivedcomments
Is there any major deviation observed over the earlier monitoring agency reports? No Management Certificate Not applicable No receivedcomments
Whether all Government/statutory approvals related to the Yes Management Certificate Not applicable No comments
object(s) have been obtained? received
Whether all arrangements pertaining to technical Yes Management Certificate Not applicable No comments
assistance/collaboration are in operation? received
Are there any favorable/unfavorable events affecting the viability Management Certificate Not applicable No comments
of these object(s)? Not applicable received
Is there any other relevant information that may materially affect Management Certificate Not applicable No comments
the decision making of the investors? Not applicable received
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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

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CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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Revised Comments of the Board of Directors
Source of information / Original cost Cost(after Particular
Sr. Item certifications considered (as per the Offer passing of the Comments of the Reason for Proposed s of -firm
No Head by Monitoring Agency for Document) in Rs. special Monitoring Agency cost revision financing arrangem
preparation of report Crore resolution) option ents
in Rs. Crore made
Special resolution passed
in annual general
meeting held on
September 26, 2025
where members of the
company have approved
1 Capital expenditures towards IT requirement CA Certificate, Management Certificate, Offer document and Special Resolution 254.42 352.27 to remaining unutilized reallocate portion funds the of No receivedcomments No comments received No comments received
previously allocated
capital expenditure
towards IT equipment.
2 Payment of lease rentals for IT equipment taken on lease CA Certificate, Management Certificate, Offer document and Special Resolution 39.14 39.14 - No receivedcomments No comments received No comments received
CA Certificate, Management Special resolution passed
Certificate, Offer document in annual general
and Special Resolution meeting held on
September 26, 2025
where members of the
company have approved No
to reallocate the No comments No comments
3 General Corporate Purposes 97.85 0.00 remaining portion of received received comments received
unutilized funds
previously allocated
capital expenditure
towards IT equipment.
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CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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(ii) Progress in the objects
Source of Comments of the
Amount utilised in Rs. Crore
information Amount Board of Directors
/ as Revised Amount as Total
Sr.No HeadItem certifications considered Monitoring Agency for by Document proposedin the in Rs. Offer passed in annual general after special Resolution September 26,2025 (in meeting held on proposed beginning quarter in Rs. Croreof the As at quarter During in Rs. Crorethe quarter end of At the in Rs. the unutilised amount in Rs. crore Monitoring Comments Agencyof the Reasons for idle funds Proposed course of action
preparation Crore Rs. Crore) Crore
of report
CA Certificate, The amount
Management of Rs. 2.28
Capital Certificate, crore was No No
1 expenditures Offer 254.42 352.27 252.10 2.28 254.38 97.89 utilised during comments comments
towards IT document and the Q2FY26 received received
requirement Board towards the
Resolution purchase of
IT Equipment.
CA Certificate, The amount No No
2 Payment of lease rentals for IT Management 39.14 19.69 6.63 26.32 12.82 of Rs. 6.63 comments comments
Certificate, crore was received received
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CARE Ratings Ltd.

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Source of Comments of the
Amount utilised in Rs. Crore
information Amount Board of Directors
/ as Revised Amount as Total
Sr.No HeadItem certifications considered Monitoring Agency for by Document proposedin the in Rs. Offer passed in annual general after special Resolution September 26,2025 (in meeting held on proposed beginning quarter in Rs. Croreof the As at quarter During in Rs. Crorethe quarter end of At the in Rs. the unutilised amount in Rs. crore Monitoring Comments Agencyof the Reasons for idle funds Proposed course of action
preparation Crore Rs. Crore) Crore
of report
equipment taken Offer 39.14 utilised during
on lease document and Q2FY26
Board towards
Resolution payment of
lease rentals
for IT
equipment
taken on
lease.
CA Certificate,
Management
Certificate, 0.00 Nil amount No No
3 General Corporate Offer 97.85 - - - 0.00 utilised during comments comments
Purposes document and Q2FY26. received received
Board
Resolution
CA Certificate, The total
Management amount
Certificate, pertaining to No No
4 Issue related Offer 14.25 14.25 14.25 - 14.25 - this object comments comments
expenses document and already received received
Board utilized in full
Resolution during
Q3FY25.
Total (Gross proceeds) 405.66 405.66 286.04 8.91 294.95 110.71
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(iii) Deployment of unutilized proceeds:

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CARE Ratings Ltd.

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Amount
Sr. No. Type of instrument and name of the entity invested in invested Maturity date Earning Investment (%)Return on Market Value as at the end of quarter (crore)
(crore)
1 Multiple Fixed Deposits with Bank of Baroda 61.00 January 22, 2026 3.04 7.88 64.04
2 Fixed Deposits with HDFC Bank 50301087025341 3.50 December 24, 2025 0.20 7.40 3.70
3 Fixed Deposits with Axis Bank 924040096275651 15.00 October 03, 2025 1.04 7.52 16.04
4 Fixed Deposits with Axis Bank 924040096275415 28.00 October 03, 2025 1.98 7.52 29.98
5 Special (or monitoring) account Axis Bank 3.2173 - - - 3.21
924020054727660
Total unutilized proceeds 110.7173 6.26 116.97
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Comments

As per management certificate received by CARE, unutilized amount of Rs 110.7173 crores as on September 30,2025 is free and not lien marked, however CARE has not been able to obtain any third party verification or CA Certification on the same.

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

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

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CARE Ratings Ltd.

CIN-L67190MH1993PLC071691

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	^ Amount Source of information / certifications
Sr. N	Item Head in Rs. Crore considered by Monitoring Agency for preparation of report Comments of Monitoring Agency	Comments of the Board of Directors
1	Nil amount spent duringQ2FY26	No comments received

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CARE Ratings Ltd.

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Disclaimers to MA report:

a) This Report is prepared by CARE Ratings Ltd (hereinafter referred to as ). 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.

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.

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CARE Ratings Ltd.

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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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E2E Networks Limited Capital/Financing Update 2025

60804_rns_2025-11-13_9f921ece-11ad-4495-a5b5-2a83341ba81d.pdf

E2E Networks Limited

CIN- L72900DL2009PLC341980

Sub: Monitoring Agency Reports for the quarter ended on September 30, 2025

For E2E Networks Limited

No. CARE/NRO/GEN/2025-26/1118 The Board of Directors E2E Networks Limited

Monitoring Agency Report for the quarter ended September 30,2025- in relation of the Preferential Issue of

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:

Comments

Disclaimers to MA report:

Monitoring Agency (MA) report

No. CARE/NRO/GEN/2025-26/1117 The Board of Directors

E2E Networks Limited

Monitoring Agency Report for the quarter ended September 30, 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:

Comments

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

Disclaimers to MA report:

AI assistant

E2E Networks Limited — Capital/Financing Update 2025

60804_rns_2025-11-13_9f921ece-11ad-4495-a5b5-2a83341ba81d.pdf

E2E Networks Limited

CIN- L72900DL2009PLC341980

Sub: Monitoring Agency Reports for the quarter ended on September 30, 2025

For E2E Networks Limited

No. CARE/NRO/GEN/2025-26/1118 The Board of Directors E2E Networks Limited

Monitoring Agency Report for the quarter ended September 30,2025- in relation of the Preferential Issue of

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:

Comments

Disclaimers to MA report:

Monitoring Agency (MA) report

No. CARE/NRO/GEN/2025-26/1117 The Board of Directors

E2E Networks Limited

Monitoring Agency Report for the quarter ended September 30, 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:

Comments

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

Disclaimers to MA report:

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