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Infrastructure major Larsen & Toubro (L&T) on Monday said it has bagged a ultra-mega order in the Middle East for the development of multiple offshore facilities. The company classifies orders worth over Rs 15,000 crore as 'ultra-mega'. L&T Energy Hydrocarbon Offshore (LTEH Offshore) will undertake the engineering, procurement, construction, installation and commissioning (EPCIC) of offshore facilities, the company said in a filing to BSE. The award of the project reinforces LTEH Offshore's long-standing presence in the Middle East and reflects the confidence placed by customers in its ability to deliver large and complex offshore projects safely, on schedule and to the highest quality standards. Backed by integrated in-house engineering, project management, procurement, fabrication and installation capabilities and a fleet of vessels, LTEH Offshore has delivered some of the region's most challenging offshore developments. Over the past four decades, the business has ...
Infrastructure major Larsen & Toubro (L&T) on Tuesday said it has entered into an agreement to transfer its data centre and cloud services business to wholly owned subsidiary Vyoma.AI Ltd for Rs 1,400 crore. The transfer will be carried out on a going-concern basis through a slump sale, the company said in a filing to BSE. The consideration, subject to closing adjustments, will be discharged through the issue of fully paid-up equity shares of Vyoma.AI. "Consideration estimated to be Rs 1,400 crore, subject to closing adjustments. The consideration for the ....transfer shall be discharged by Vyoma through issuance and allotment of fully paid up equity shares of face value of Rs 100 each to the company, based on the valuation determined by an independent valuer," the filing said. In a separate transaction, L&T, Vyoma.AI and L&T Network Services Pvt Ltd (LTNSPL) have entered into a share purchase agreement for the transfer of L&T's entire equity holding in LTNSPL to ..