Voltas completes Rs 30 Crore UAE subsidiary transfer to Universal MEP Projects Pte

Voltas also confirmed that the transfer of its direct investment in Saudi Ensas Company for Engineering Services and Trading LLC to UMPPL is expected to be completed by 31st March 2025.

Voltas Limited, a leading Indian multinational in air conditioning and engineering services, has successfully completed the transfer of its direct investment in Weathermaker FZE, UAE, to Universal MEP Projects Pte Limited (UMPPL), Singapore. The transaction, valued at ₹30 crores, was finalized on 15th January 2025 following all necessary approvals and remittance of the consideration amount.

Despite the transfer, Voltas retains its economic interest in Weathermaker FZE, as it remains a wholly owned subsidiary of the company through UMPPL. This move is part of Voltas’ strategic restructuring aimed at enhancing global operational efficiency.

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Voltas also confirmed that the transfer of its direct investment in Saudi Ensas Company for Engineering Services and Trading LLC to UMPPL is expected to be completed by 31st March 2025.

Voltas Limited, a part of the Tata Group, is a leading Indian multinational company specializing in air conditioning, engineering, and project management services. Established in 1954, the company has built a reputation for excellence across diverse sectors, including cooling solutions, heating, ventilation, and air conditioning (HVAC), as well as turnkey projects in water management, power distribution, and textile machinery.