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Shares of Larsen and Toubro Ltd ended at ₹4,040.00, down by ₹28.45, or 0.70%, on the BSE.
Larsen & Toubro Limited (L&T) on Tuesday (August 11) said it has entered into agreements with its wholly owned subsidiary Vyoma.AI Limited to transfer its Data Center and Cloud Services Business for ₹1,400 crore and divest its entire stake in L&T Network Services Private Ltd (LTNSPL) for ₹30 crore.
Under the Business Transfer Agreement (BTA) signed on August 11, L&T will transfer the Data Center and Cloud Services Business to Vyoma on a going-concern basis through a slump sale. The consideration, subject to closing adjustments, will be discharged through the issue of fully paid equity shares of Vyoma to L&T.
The Data Center Business reported revenue from operations of ₹36.6 crore in FY2025-26, accounting for 0.025% of L&T's standalone revenue. Its net worth stood at ₹1,142 crore, or 1.565% of L&T's standalone net worth, during the financial year. The transaction is expected to be completed on or before October 31, 2026, subject to fulfilment of the closing conditions agreed in the BTA.
Separately, L&T, Vyoma and L&T Network Services Private Ltd have entered into a Share Purchase Agreement under which L&T will transfer its 100% equity stake in L&T Network Services Private Ltd to Vyoma for ₹30 crore, subject to closing adjustments.
The consideration will be paid through fully paid equity shares of Vyoma with a face value of ₹100 each. Upon completion, L&T Network Services Private Ltd will become a direct wholly owned subsidiary of Vyoma and an indirect wholly owned subsidiary of L&T.
L&T Network Services Private Ltd reported turnover of ₹1.86 crore and net worth of ₹18.31 crore as of March 31, 2026. Its turnover accounted for 0.001% of L&T's consolidated turnover, while its net worth represented 0.025%. Both transactions are related-party transactions and are being carried out at arm's length.
Vyoma.AI was incorporated on April 22, 2026, as a newly incorporated public limited company established for setting up data centres and providing infrastructure and technology-enabled services. It had no revenue or net worth for FY2025-26.
The transfer of the Data Center Business is being undertaken through a BTA and is outside a Scheme of Arrangement. L&T said Vyoma does not meet the threshold requirements for an "Undertaking" under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations.
There will be no change in L&T's shareholding pattern following the Data Center Business transaction.
Shares of Larsen and Toubro Ltd ended at ₹4,040.00, down by ₹28.45, or 0.70%, on the BSE.
First Published:
Aug 11, 2026 4:16 PM
IST
