This multibagger AI stock to be in focus on Wednesday as company secures ₹177 crore order from MeitY’s IndiaAI mission

E2E Networks, a provider of cloud computing services, is likely to be in focus during Wednesday’s trading session, September 3, as the company secured a significant ₹177 crore order from the Ministry of Electronics and Information Technology (MeitY), Government of India, under the IndiaAI Mission.

The company informed investors through a regulatory filing today that it has received a letter from the ministry approving the immediate allocation of GPU resources (H100 SXM and H200 SXM) to GNANI AI for the purpose of building India’s foundational AI model.

E2E Networks will provide H200 SXM and H100 SXM GPUs for a period of 360 days, totaling 1,29,94,560 GPU hours. In its press release, the company said this order further strengthens its position in the national AI infrastructure ecosystem and marks a major step in supporting India’s ambitions in AI capability building.

Meanwhile, IndiaAI functions as an Independent Business Division (IBD) within Digital India Corporation, under MeitY.

India is rapidly building a robust AI computing and semiconductor infrastructure to support its growing digital economy. With the approval of the IndiaAI Mission in 2024, the government allocated ₹10,300 crore over five years to strengthen AI capabilities.

A key focus of this mission is the development of a high-end common computing facility equipped with 18,693 Graphics Processing Units (GPUs), making it one of the most extensive AI compute infrastructures globally. This capacity is nearly nine times that of the open-source AI model DeepSeek and about two-thirds of what powers ChatGPT.

About the company

E2E Networks is an NSE-listed, MeitY-empaneled, AI-focused hyperscale cloud platform offering advanced cloud GPUs and a full ecosystem of cloud technologies designed for the development and deployment of AI/ML/GenAI workloads on large-scale compute clusters.

Domestic brokerage firm InCred Equities has added E2E Networks to its high-conviction list as an AI infrastructure play.

“The company has emerged as one of the top-tier cloud GPU infrastructure providers with a comprehensive line-up, battle-tested software (TIR), and balance sheet strength and parentage post-equity infusion by Larsen & Toubro. It is trusted by researchers, start-ups, and enterprises for its price-performance scalability, predictable and affordable pricing, and open-source technology build,” InCred said in a note.

Larsen & Toubro Limited held a 19% stake in the company at the end of the June quarter. Looking at the stock's performance, it delivered a massive 9054% return over the last five years.

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