Larsen & Toubro (L&T) has signed agreement to transfer its Data Center and Cloud Services Business to its wholly owned subsidiary Vyoma.AI for Rs14bn ($146.7m).
The company also plans to divest its entire equity stake in L&T Network Services Private (LTNSPL) to Vyoma.AI for Rs300m.
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The transfer of the Data Center and Cloud Services Business will take place through a slump sale under a Business Transfer Agreement.
L&T will receive fully paid equity shares of Vyoma in consideration, with the transaction subject to closing adjustments.
Completion of the deal is targeted on or before 31 October 2026, depending on fulfilment of agreed conditions.
In the financial year 2025-26, the Data Center Business reported revenue of Rs366m, representing 0.025% of L&T’s standalone income.
At the same time, its net worth stood at Rs11.42bn, accounting for 1.565% of the company’s standalone net worth.
As part of a separate agreement, L&T, Vyoma, and LTNSPL will proceed with a Share Purchase Agreement.
Vyoma will pay the consideration through fully paid equity shares with a face value of Rs100 each.
Following completion, LTNSPL will become a direct wholly owned subsidiary of Vyoma and remain an indirect subsidiary of L&T.
LTNSPL reported turnover of Rs18.6m and a net worth of Rs183.1m as of 31 March 2026.
L&T confirmed that both deals are related-party transactions conducted at arm’s length.
In February 2026, L&T announced a partnership with Nvidia to develop an AI infrastructure project in India, which is set to become the country’s largest gigawatt-scale AI data centre.
The initiative was revealed at the India AI Summit under the IndiaAI Mission, with plans to provide scalable, production-grade AI capabilities based in India.
