Data center and cloud services business to be transferred through a slump sale; transaction expected to close by October 31, 2026
Mumbai : Larsen & Toubro (L&T) has entered into a Business Transfer Agreement with its wholly owned subsidiary Vyoma.AI Limited to transfer its Data Center and Cloud Services Business for ₹1,400 crore, subject to closing adjustments.
The transaction will be structured as a slump sale on a going-concern basis. The consideration will be paid through the issue of fully paid-up equity shares of Vyoma.AI to L&T, based on a valuation determined by an independent valuer.
Transaction Expected to Close by October 2026
L&T said the transaction qualifies as a related-party transaction and will be conducted on an arm’s-length basis.
The deal is expected to be completed on or before October 31, 2026, subject to the fulfilment of applicable closing conditions.
The Data Center and Cloud Services Business reported revenue of ₹36.6 crore in FY2025-26 and had a net worth of ₹1,142 crore as of the end of the financial year.
LTNSPL Stake to Be Transferred for ₹30 Crore
In a separate transaction, L&T has signed a Share Purchase Agreement to transfer its entire 100% stake in L&T Network Services Private Limited (LTNSPL) to Vyoma.AI for ₹30 crore, subject to closing adjustments.
Once the transaction is completed, LTNSPL will become a direct wholly owned subsidiary of Vyoma.AI and an indirect wholly owned subsidiary of L&T.
Vyoma.AI Established for Data Center and Technology Services
Vyoma.AI Limited, incorporated in April 2026, has been established with a focus on developing data centers and providing infrastructure and technology-enabled services.
The transfer of L&T’s data center and cloud services business to Vyoma.AI is expected to consolidate these activities within the newly established entity and create a dedicated platform for the group’s data center, digital infrastructure and technology services ambitions.
The transaction will result in the business being housed within a specialised entity while remaining part of the broader L&T Group.
