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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: July 22, 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 June 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 June 30, 2025 from Care Ratings Limited dated July 22, 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: 2025.07.22 19:14:36 +05'30'

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

Monitoring Agency (MA) report

No. CARE/NRO/GEN/2025-26/1053 The Board of Directors

E2E Networks Limited

Awfis, First Floor, A-24/9, Mohan Cooperative Industrial Estate

July 22, 2025

Dear Sir/Ma’am,

Monitoring Agency Report for the quarter ended June 30, 2025 - in relation to the Preferential issue of E2E Networks Limited (“the Company”)

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 June 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]

Report of the Monitoring Agency

Name of the issuer: E2E Networks Limited For quarter ended: June 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 applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’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 the issuer’s Management/Board.

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Signature:

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

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:

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
Whether all utilization is as per the disclosures in the Offer Document?	Yes	CA certificate*, Management certificate, Bank statements, Board resolution	All proceeds from preferential issue have been utilized as per objectives mentioned in the offer document.	No comments received
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 received
Whether the means of finance for the disclosed objects of the issue have changed?	No	CA certificate, Management certificate	Not applicable	No comments received
Is there any major deviation observed over the earlier monitoring agency reports?	No	Not applicable	Not applicable	No comments received
Whether all Government/statutory approvals related to the object(s) have been obtained?	Not applicable	Not applicable	Not applicable	No comments received
Whether all arrangements pertaining to technical assistance/collaboration are in operation?	Not applicable	Not applicable	Not applicable	No comments received
Are there any favorable/unfavorable events affecting the viability of these object(s)?	No	Not applicable	Not applicable	No comments received
Is there any other relevant information that may materially affect the decision making of the investors?	No	Not applicable	Not applicable	No comments received

*CA certificate dated July 17, 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.

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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				Comments of the Board of Directors	Comments of the Board of Directors	Comments of the Board of Directors
			Original cost (as per the Offer Document) in Rs. Crore	Revised Cost in Rs. Crore	Comments of the Monitoring Agency	Reason for cost revision	Proposed financing option	Particulars of -firm arrangement s made
1	Capital expenditures towards IT requirement	CA Certificate, Management Certificate, Offer document and Board Resolution	254.42	Not applicable	-	No comments received	No comments received	No comments received
2	Payment of lease rentals for IT equipment taken on lease	CA Certificate, Management Certificate, Offer document and Board Resolution	39.14	Not applicable	-	No comments received	No comments received	No comments received
3	General Corporate Purposes	CA Certificate, Management Certificate, Offer document and Board Resolution	97.85	Not applicable	-	No comments received	No comments received	No comments received
4	Issue related expenses	CA Certificate, Management Certificate, Offer document and Board Resolution	14.25	Not applicable	-	No comments received	No comments received	No comments received
Total (Gross proceeds)			405.66

CA certificate dated July 17, 2025 from M/s G S A & Associates LLP, Chartered Accountants (statutory auditor).

– (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 Document in Rs. Crore	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Total	Comments of the Monitoring Agency	Comments of the Board of Directors	Comments of the Board of Directors

				As at beginning of the quarter in Rs. Crore	During the quarter in Rs. Crore	At the end of the quarter in Rs. Crore			Reasons for idle funds	Propose d course of action
							unutilised
							amount in
							Rs. crore
1	Capital expenditures towards IT requirement	CA Certificate, Management Certificate, Offer document and Board Resolution	254.42	72.90	179.20	252.10	2.32	The amount of Rs. 179.20 crore was utilised during the Q1FY26 towards the purchase of IT Equipment	No comment s received	No comment s received

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Sr. No	Item Head	Source of information / certifications considered by Monitoring Agency for preparation of report	Amount as proposed in the Offer Document in Rs. Crore	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Total	Comments of the Monitoring Agency	Comments of the Board of Directors	Comments of the Board of Directors

				As at beginning of the quarter in Rs. Crore	During the quarter in Rs. Crore	At the end of the quarter in Rs. Crore			Reasons for idle funds	Propose d course of action
							unutilised
							amount in
							Rs. crore
2	Payment of lease rentals for IT equipment taken on lease	CA Certificate, Management Certificate, Offer document and Board Resolution	39.14	12.87	6.82	19.69	19.45	The amount of Rs. 6.82 crore was utilised during Q1FY26 towards payment of lease rentals for IT equipment taken on lease.	No comment s received	No comment s received
3	General Corporate Purposes	CA Certificate, Management Certificate, Offer document and Board Resolution	97.85	-	-	-	97.85	Nil amount utilised during Q1FY26	No comment s received	No comment s received
4	Issue related expenses	CA Certificate, Management Certificate, Offer document and Board Resolution	14.25	14.25	-	14.25	-	The total amount pertaining to this object already utilized in full during Q3FY25.	No comment s received	No comment s received
Total (Gross proceeds)			405.66	100.02	186.02	286.04	119.62

*CA certificate dated July 17, 2025, from M/s G S A & Associates LLP, Chartered Accountants (statutory auditor).

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(iii) Deployment of unutilized proceeds:

Sr. No.	Type of instrument and name of the entity invested in	Amount invested (crore)	Maturity date	Earning	Return on Investment (%)	Market Value as at the end of quarter (crore)
1	Multiple Fixed Deposits with Bank of Baroda	61.00	January 22, 2026	4.95	7.88	65.95
2	Fixed Deposits with HDFC Bank–50301087025341	3.50	December 24, 2025	0.13	7.40	3.63
3	Fixed Deposits with Axis Bank–924040096275651	25.00	October 03, 2025	1.33	7.52	26.33
4	Fixed Deposits with Axis Bank–924040096275415	28.00	October 03, 2025	1.49	7.52	29.49
5	Special (or monitoring) account – Axis Bank – 924020054727660	2.13*	-	-	-	2.13
	Total unutilized proceeds	119.63		7.90		127.53

*Note: As on June 30, 2025, the monitoring account (i.e Axis Bank special account) had an outstanding balance of Rs. 2.13 crore which includes interest income of Rs. 22,894 on fixed deposits.

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

	Completion Date	Completion Date	Delay (no.	Comments of the Board of Directors	Comments of the Board of Directors
Objects			of days/	Reason of	Proposed course of
	As per the offer document	Actual
			months)	delay	action

Capital expenditures towards IT equipment	To be utilized by August 31, 2027	Ongoing	Not applicable	No comments received	No comments received
Payment of lease rentals for IT equipment taken on lease	To be utilized by August 31, 2027	Ongoing	Not applicable	No comments received	No comments received
General corporate purposes	To be utilized by August 31, 2027	Ongoing	Not applicable	No comments received	No comments received
Issue related expenses	No timeline specified in offer document	Utilized during Q3FY25	Not applicable	No comments received	No comments received

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


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


1	Nil amount spent during Q1FY26 No comments received

^ 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.

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Disclaimers to MA report:

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

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No. CARE/NRO/GEN/2025-26/1052

The Board of Directors E2E Networks Limited

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

July 22,2025

Dear Sir/Ma’am,

Monitoring Agency Report for the quarter ended June 30,2025- in relation of the Preferential Issue of E2E Networks Limited (“the Company”)

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 June 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.

Thanking you, Yours faithfully,

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Dhruv Mittal

Assistant Director [email protected]

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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 Email: [email protected] • www.careedge.in CIN-L67190MH1993PLC071691

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Report of the Monitoring Agency

Name of the issuer: E2E Networks Limited For quarter ended: June 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 a 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 applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’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 the issuer’s Management/Board.

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

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CARE Ratings Ltd.

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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 : 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 the issue proceeds:

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
Whether all utilization is as per the disclosures in the Offer Document?	Yes	Bank statements, Board Resolution, CA Certificate*, Management certificate	All the proceeds from preferential issues have been utilized as per objectives mentioned in the offer documents.	No comments
Whether shareholder approval has been obtained in the 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 the issue have changed?	No	CA Certificate*, Management certificate	Not applicable	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 Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-120-4452 000 Phone: +91-22-6754 3456 Email: [email protected] • www.careedge.in 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 major deviation observed over the earlier monitoring agency reports?	No	Not applicable	Not applicable	No comments
Whether all Government/statutory approvals related to the object(s) have been obtained?	Not applicable	Not applicable	Not applicable	No comments
Whether all arrangements pertaining to technical assistance/collaboration are in operation?	Not applicable	Not applicable	Not applicable	No comments
Are there any favorable/unfavorable events affecting the viability of these object(s)?	No	Not applicable	Not applicable	No comments
Is there any other relevant information that may materially affect the decision making of the investors?	No	Not applicable	Not applicable	No comments

*CA certificate dated July 17,2025, 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 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.

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Sr. No	Item Head	Source of information / certifications considered by Monitoring Agency for preparation of report				Comments of the Board of Directors	Comments of the Board of Directors	Comments of the Board of Directors
			Original cost (as per the Offer Document) in Rs. Crore	Revised Cost in Rs. Crore	Comments of the Monitoring Agency	Reason for cost revision	Proposed financing option	Particulars of -firm arrangement s made
1.	Capital expenditures towards IT Equipment	CA Certificate*, Management certificate and Offer document	729.28	Not applicable	-	No comments	No comments	No comments
2.	Repayment of outstanding loan including interest accrued thereon	CA Certificate*, Management certificate and Offer document	100.00	Not applicable	-	No comments	No comments	No comments
3.	General corporate purposes	CA Certificate*, Management certificate, Offer document and Board resolution	150.00	Not applicable	-	No comments	No comments	No comments
4.	Working capital	CA Certificate*, Management certificate and Offer document	100.00	Not applicable	-	No comments	No comments	No comments
Total			1079.28

*CA certificate dated July 17, 2025, from M/s G S A & Associates LLP, Chartered Accountants (Statutory auditor)

(ii) Progress in the objects –

CARE Ratings Ltd.

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

			Amount as proposed in the Offer Document in Rs. Crore
				As at beginni ng of the quarter in Rs. Crore	During the quarter in Rs. Crore	At the end of the quarter in Rs. Crore			Reasons for idle funds	Propose d course of action
							unutilised
							amount in
							Rs. crore
1.	Capital expenditures towards IT Equipment	CA Certificate*, Management certificate, Bank Statements	729.28	6.49	690.71	697.20	32.07	The total amount of Rs.690.71 crore was utilized in Q1FY26 towards the purchase of IT Equipment and Software.	No comment s	No comment s
2.	Repayment of outstanding loan including interest accrued thereon	CA Certificate*, Management certificate, Bank Statements	100.00	98.80	1.20	100.00	-	The total amount of Rs.1.20 crore was utilized in Q1FY26 towards the repayment of outstanding loans and payment of interest The amounts were first transferred to the company’s current accounts and later on those current accounts were debited to repay outstanding loans including accrued interest.	No comment s	No comment s

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CARE Ratings Ltd.

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

			Amount as proposed in the Offer Document in Rs. Crore
				As at beginni ng of the quarter in Rs. Crore	During the quarter in Rs. Crore	At the end of the quarter in Rs. Crore			Reasons for idle funds	Propose d course of action
							unutilised
							amount in
							Rs. crore
3.	General corporate purposes	CA Certificate*, Management certificate, Bank Statements and Board resolution	150.00	0.47	0.41**	0.88	149.12	Rs 0.41 crores were utilised in Q1FY26 towards offer related expenses.	No comment s	No comment s
4.	Working capital	CA Certificate*, Management certificate, Bank Statements	100.00	11.04	5.87	16.91	83.09	The total amount of Rs.5.87 crore was utilized in Q1FY26 towards the payment to vendors in relation to data centres, pass through license purchase and subscriptions. Out of total, a vendor payment of Rs.0.04 crore was made through the bank account on June 17,2025 other than the monitoring account and the amount was reimbursed from the	No comment s	No comment s

CARE Ratings Ltd.

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Sr. No		Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Total	Comments of the Monitoring Agency	Comments of the Board of Directors	Comments of the Board of Directors

	Amount as proposed in the Offer Document in Rs. Crore
		As at beginni ng of the quarter in Rs. Crore	During the quarter in Rs. Crore	At the end of the quarter in Rs. Crore			Reasons for idle funds	Propose d course of action
					unutilised
					amount in
					Rs. crore
						monitoring account to the current account of the company on June 30,2025.
Total	1079.28	116.81	698.19	815.00	264.28

*CA certificate dated July 17, 2025, from M/s G S A & Associates LLP, Chartered Accountants (Statutory auditor).

**Vide Board resolution dated January 22, 2025; General corporate purposes item head to also include the allocation for issue-related expenses for an amount up to Rs.1.00 crore. Accordingly, the company had utilized amounts aggregating to Rs.0.41 crore during Q1FY26 and Rs 0.47 crores during Q3FY25 towards issue-related expenses

(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 the quarter (in crore)
1	Fixed deposits with Bank of Baroda	264.00	December 04, 2025	6.09	7.85%	270.09
3	Mutual Fund* – SBI Liquid Fund Direct Growth	0.08	-	-	-	0.08

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CARE Ratings Ltd.

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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)	Return on Investment (%)	Market value as at the end of the quarter (in crore)
4	Monitoring account – Axis Bank Special Second account – 924020068229565	0.20	-	-	-	0.20
	Total unutilized proceeds	264.28		6.09		270.37

*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.

(iv) Delay in implementation of the object(s)–
	Completion Date	Delay	Comments of the Board of Directors

(iv) Delay in implementation of the object(s)–
				Comments of the Board of
	Completion Date
			Delay	Directors

Objects			(no. of days/		Proposed
				Reason of
	As per the offer document	Actual	months)		course of
				delay
					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	Complete amount utilized till Q1FY26	No delay	No Comments	No Comments
General corporate purposes	To be utilized by November 2029	Ongoing	Not applicable	No Comments	No Comments

CARE Ratings Ltd.

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								Comments of the Board of	Comments of the Board of
		Completion Date
							Delay	Directors
Objects
							(no. of days/		Proposed
								Reason of
		As per the offer document			Actual		months)		course of
								delay
									action


Working capital		To be utilized by November 2029			Ongoing		Not applicable	No Comments	No Comments
5) Details of utilization ofproceeds stated as General Corporate Purpose(GCP) amount in the offer document:
				Source of information /
			Amount
Sr.				certifications considered					Comments of the
	Item Head^					Comments of Monitoring Agency
No.			in Rs. Crore	by Monitoring Agency for					Board of Directors
				preparation of report


1.	Issue-related expenses for an amount up to Rs.1.00 crore**		0.41	CA Certificate*, Management certificate, Offer document and Board resolution		Rs 0.41 crore was utilized towards issue related expenses Q1FY26. (Including stamp fee, professional fee for valuation analysis, upfront professional fee, license fee among others)			No Comments

*CA certificate dated July 17, 2025, from M/s G S A & Associates LLP, Chartered Accountants (Statutory auditor).

**Vide Board resolution dated January 22, 2025; General corporate purposes item head to also include the allocation for issue-related expenses for an amount up to Rs.1.00 crore. Accordingly, the company had utilized amounts aggregating to Rs.0.41 crore during Q1FY26 towards issue-related expenses (total of Rs.0.88 crore utilized towards issuerelated expenses till Q1FY26).

^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

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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 “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.

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.

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

Email: [email protected] • www.careedge.in CIN-L67190MH1993PLC071691

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E2E Networks Limited Capital/Financing Update 2025

60804_rns_2025-07-22_f1183414-3f91-4a74-8325-7e62c6feb756.pdf

E2E Networks Limited

CIN- L72900DL2009PLC341980

For E2E Networks Limited

No. CARE/NRO/GEN/2025-26/1053 The Board of Directors

E2E Networks Limited

Monitoring Agency Report for the quarter ended June 30, 2025 - in relation to the Preferential issue of E2E Networks Limited (“the Company”)

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:

– (ii) Progress in the objects

(iii) Deployment of unutilized proceeds:

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

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

Disclaimers to MA report:

No. CARE/NRO/GEN/2025-26/1052

The Board of Directors E2E Networks Limited

Monitoring Agency Report for the quarter ended June 30,2025- in relation of the Preferential Issue of E2E Networks Limited (“the Company”)

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 the issue proceeds:

Where material deviation may be defined to mean:

(iii) Deployment of unutilized proceeds:

AI assistant

E2E Networks Limited — Capital/Financing Update 2025

60804_rns_2025-07-22_f1183414-3f91-4a74-8325-7e62c6feb756.pdf

E2E Networks Limited

CIN- L72900DL2009PLC341980

For E2E Networks Limited

No. CARE/NRO/GEN/2025-26/1053 The Board of Directors

E2E Networks Limited

Monitoring Agency Report for the quarter ended June 30, 2025 - in relation to the Preferential issue of E2E Networks Limited (“the Company”)

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:

– (ii) Progress in the objects

(iii) Deployment of unutilized proceeds:

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

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

Disclaimers to MA report:

No. CARE/NRO/GEN/2025-26/1052

The Board of Directors E2E Networks Limited

Monitoring Agency Report for the quarter ended June 30,2025- in relation of the Preferential Issue of E2E Networks Limited (“the Company”)

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 the issue proceeds:

Where material deviation may be defined to mean:

(iii) Deployment of unutilized proceeds:

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E2E Networks Limited Capital/Financing Update 2025