Infrastructure giant Larsen & Toubro (L&T) announced on Tuesday the signing of an agreement to transfer its data center and cloud services business, which is wholly owned by its subsidiary Vyoma.AI Ltd, for a sum of 140 billion rupees.
The company reported in a filing with the BSE that the transfer will be carried out on a going concern basis through a slump sale of assets. The consideration, which is subject to adjustments upon closing the deal, will be paid through the issuance of fully paid equity shares of Vyoma.AI.
The document stated: 'The estimated consideration is 140 billion rupees, subject to closing adjustments. The consideration for the... transfer will be paid to Vyoma through the issuance and allotment of fully paid equity shares of the company, each having a nominal value of 100 rupees, based on the valuation determined by an independent valuer.'
Furthermore, as part of a separate transaction, L&T, Vyoma.AI, and L&T Network Services Pvt Ltd (LTNSPL) signed a share purchase agreement for Vyoma.AI to acquire all of L&T's stake in LTNSPL for 30 billion rupees, subject to possible adjustments.
According to the filing, the expected completion date for the sale of LTNSPL is set for October 31, 2026. The consideration for this transaction will also be paid through the issuance of fully paid Vyoma.AI shares.
After the completion of both deals, LTNSPL will become a direct wholly-owned subsidiary of Vyoma.AI, as well as an indirect wholly-owned subsidiary of L&T.
As of March 31, 2026, LTNSPL reported a turnover of 1.86 billion rupees and net worth of 18.31 billion rupees. Its turnover accounted for 0.001 percent of L&T's consolidated turnover, and its net worth accounted for 0.025 percent.
Vyoma.AI is a recently established public company created to build data centers for the purpose of providing infrastructure and technology services. Larsen & Toubro is an Indian multinational conglomerate with an annual turnover of $32 billion, engaged in projects in design, procurement, and construction (EPC), high-tech manufacturing, products, and services, operating in various sectors and across multiple geographical markets.



