L&T Divests Cloud Services Unit to Vyoma.AI for ₹1,400 Crore

Larsen & Toubro (L&T) has announced a strategic agreement to transfer its data center and cloud-services portfolio to Vyoma.AI, a sovereign AI cloud platform, in a transaction valued at ₹1,400 crore. As per the newly signed Share Purchase Agreement, L&T will divest its entire equity stake in its wholly owned subsidiary, L&T Network Services Pvt Ltd (LTNSPL), to Vyoma for a consideration of ₹30 crore (subject to closing adjustments). This payment will be settled via the issuance of fully paid-up equity shares of Vyoma. Upon the expected completion by October 31, LTNSPL will operate as a direct wholly owned subsidiary of Vyoma.AI and an indirect subsidiary of L&T.

News by Rahul Yelligetti.