L&T Signs ₹1,400-Crore Deal to Transfer Data Centre, Cloud Businesses to Vyoma.AI.

Larsen & Toubro (L&T) recently said it plans to transfer its data centre and cloud-services business to Vyoma.AI, a sovereign AI cloud platform, in a deal valued at ₹1,400 crore.

As part of the transaction, L&T will divest its entire stake in L&T Network Services Pvt Ltd (LTNSPL), its wholly owned subsidiary that houses the businesses, to Vyoma for ₹30 crore, subject to closing adjustments.

L&T said it, Vyoma and LTNSPL have signed a Share Purchase Agreement (SPA) under which 100% of the equity held by L&T in LTNSPL will be transferred to Vyoma. The consideration will be paid through the issue of fully paid-up equity shares of Vyoma.

The transaction is expected to be completed on or before October 31. Following the completion, LTNSPL will become a direct wholly owned subsidiary of Vyoma.AI and an indirect subsidiary of L&T.