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PartiesOfTheAgreementDomain1

5005752026-08-14

PartiesOfTheAgreementDomain1

5005752026-08-142026-08-14

PartiesOfTheAgreementDomain2

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PartiesOfTheAgreementDomain2

xbrli:pure

Voltas Limited

VOLTAS

New

Others

Binding Term Sheet

Execution of agreement

Listed Entity

true

2026-08-14

15:35:00

true

2026-08-14

The Board of Directors of Voltas Limited has approved entering into a Binding Term Sheet with Atomberg Innovation Private Limited for setting up a Joint Venture in India for the development, manufacture and commercialization of Room Air Conditioner compressors. The proposed Joint Venture is aimed at building indigenous compressor technology and manufacturing capabilities, strengthening supply chain resilience, increasing localization and reducing dependence on concentrated global supply sources. The proposed transaction is subject to satisfactory completion of due diligence, execution of Definitive Agreements and receipt of applicable approvals, if any.

2026-08-14

true

There is no impact on management and control of Voltas.

Voltas Limited

Party entering into the agreement

Voltas does not hold any shareholding in AIPL.

false

Atomberg Innovation Private Limited (‘AIPL’)

Counterparties to the agreement

Voltas does not hold any shareholding in AIPL.

false

2026-08-14

Binding Term Sheet is being signed for setting up a Joint Venture in India for the development, manufacture and commercialization of Room Air Conditioner compressors.

The Definitive Agreements are yet to be executed between the parties. The Joint Venture is presently proposed to be held on an equal shareholding basis, with the Board comprising five Directors, including three nominees of Voltas and two nominees of AIPL, subject to the terms and conditions, including the respective rights and obligations of the parties, to be set out in the Definitive Agreements.

false

Not applicable

The proposed Joint Venture is envisaged to be held by Voltas and AIPL in equal proportion. The class of shares, issue price and other related terms shall be finalised and documented in the Definitive Agreements to be executed between the parties. The Joint Venture is currently proposed to be held on an equal shareholding basis, with the Board comprising five Directors, including three nominees of Voltas and two nominees of AIPL. No potential conflict of interest will arise out of this transaction.

Please refer PDF disclosure filed on Stock Exchanges for detailed information. Also find below other information for your noting: Whether the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship? Response: AIPL is not related to Voltas or to its Promoter / Promoter Group.

Please note that no Joint Venture Agreement has been exceuted. The Board of Directors of Voltas Limited has approved entering into a Binding Term Sheet with Atomberg Innovation Private Limited for setting up a Joint Venture in India for the development, manufacture and commercialization of Room Air Conditioner compressors.