L&T rejigs its digital infra business, transfers Vyoma.AI for Rs 1,400 crore

Mumbai: Larsen & Toubro (L&T) is transferring its data centre and cloud services business to wholly owned unit Vyoma.AI for ₹1,400 crore, as part of a restructuring of its digital infrastructure business.

L&T signed an agreement with Vyoma.AI to transfer the operational business on a slump sale basis, the infrastructure and construction conglomerate said in a statement. The deal proceeds will be paid by issuing fully paid-up equity shares of Vyoma.AI, subject to closing adjustments and valuation by an independent valuer.

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In a separate share purchase agreement, L&T will transfer its entire stake in L&T Network Services Pvt Ltd (LTNSPL) to Vyoma.AI for ₹30 crore, also to be paid through equity shares.