Voltas Ltd. Completes Transfer of Investment in Weathermaker FZE to Universal MEP Projects Pte Limited for Rs. 30 crores

Voltas Ltd. has completed the transfer of its 100% direct investment in Weathermaker FZE, located in UAE, to Universal MEP Projects Pte Limited - Singapore (UMPPL). This transfer was executed on 15th January, 2025, upon the satisfaction of conditions precedent and receipt of necessary approvals. The consideration amount of Rs. 30 crores has been received by the company. Since UMPPL is a step-down wholly owned subsidiary of Voltas Ltd., the economic interest of the company in Weathermaker FZE remains unchanged, and it continues to be a wholly owned subsidiary of Voltas Ltd. The transfer of the company's direct investment in Saudi Ensas Company for Engineering Services and Trading LLC to UMPPL is expected to be completed before 31st March, 2025, or on a mutually agreed date.