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Voltas and Atomberg to form a joint venture for AC compressor development in India
14-Aug-2026, 07:12
Voltas Limited announced that its Board of Directors has approved a binding term sheet with Atomberg Innovation Private Limited to establish a joint venture in India for the development, manufacture, and commercialization of Room Air Conditioner compressors, aiming to build indigenous technology and strengthen supply chain resilience. The joint venture is proposed to be held on an equal shareholding basis, with Voltas nominating three directors and Atomberg Innovation Private Limited nominating two, and is not considered a related party transaction.
Voltas Limited announced that its Board of Directors has approved a binding term sheet with Atomberg Innovation Private Limited to establish a joint venture in India for the development, manufacture, and commercialization of Room Air Conditioner compressors, aiming to build indigenous technology and strengthen supply chain resilience. The joint venture is proposed to be held on an equal shareholding basis, with Voltas nominating three directors and Atomberg Innovation Private Limited nominating two, and is not considered a related party transaction.