Summary of Key Information:
Nature of Filing / Announcement: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Proposed Joint Venture
Date of Board Meeting / Approval: 14th August, 2026 (Meeting commenced at 11:00 AM, concluded at 3:35 PM)
Key Financial Highlights: Not Specified
Standalone Results: Not Specified
Consolidated Results: Not Specified
Segment-wise Performance: Not Specified
Corporate Actions:
The Board of Directors of Voltas Limited has approved entering into a Binding Term Sheet with Atomberg Innovation Private Limited (AIPL) for setting up a Joint Venture in India.
Joint Venture Purpose: Development, manufacture, and commercialization of Room Air Conditioner compressors.
Strategic Objectives: Building indigenous compressor technology and manufacturing capabilities, strengthening supply chain resilience, increasing localization, and reducing dependence on concentrated global supply sources.
Shareholding Structure: The Joint Venture is presently proposed to be held on an equal shareholding basis (50:50) between Voltas and Atomberg Innovation Private Limited.
Board Composition: The Joint Venture Board will comprise five Directors, including three nominees of Voltas and two nominees of Atomberg Innovation Private Limited.
Current Status: Voltas does not hold any shareholding in AIPL. The Definitive Agreements are yet to be executed between the parties.
Conditions Precedent: The proposed transaction is subject to satisfactory completion of due diligence, execution of Definitive Agreements, and receipt of applicable approvals, if any.
Related Party Status: AIPL is not related to Voltas or to its Promoter/Promoter Group. This is not a related party transaction.
Share Issuance Details: The class of shares, issue price, and other related terms shall be finalized and documented in the Definitive Agreements.
Conflict of Interest: No potential conflict of interest will arise out of this transaction.
Other Significant Information:
The announcement includes a complete annexure with all disclosures required under Para A of Part A of Schedule III of the SEBI Listing Regulations read with relevant SEBI Circulars.