L&T Transfers Data Centre & Cloud Services Business To Vyoma.AI In ₹1,400-Crore Deal
New Delhi, Aug 11: Infrastructure major Larsen & Toubro (L&T) on Tuesday said it has entered into an agreement to transfer its data centre and cloud services business to wholly owned subsidiary Vyoma.AI Ltd for Rs 1,400 crore. The transfer will be carried out on a going-concern basis through a slump sale, the company said in a filing to BSE. The consideration, subject to closing adjustments, will…
New Delhi, August 11 - Indian infrastructure giant Larsen & Toubro (L&T) has announced a strategic move to transfer its data centre and cloud services business to its wholly-owned subsidiary, Vyoma.AI Ltd, in a transaction valued at ₹1,400 crore. The transfer is expected to be finalized on a going-concern basis through a slump sale, as detailed in a filing to the Bombay Stock Exchange (BSE).
The deal's consideration, subject to closing adjustments, will be met through the issuance of fully paid-up equity shares of Vyoma.AI.
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