Engineering projects company Voltas Limited and Tata Enterprise have declared that they have entered into definitive agreements to secure majority stake in the Mumbai-based Rohini Industrial Electricals (RIE). The RIE deals in undertaking large turnkey electrical and instrumentation projects for industrial and commercial sectors.

As per this agreement, the Voltas Limited will pay consideration of around of Rs 62 Crore for 51 per cent stake in RIE. It has been mutually decided that Voltas can hike its stake to 100 per cent in the coming time. After this transaction is over, the Rohini Industrial Electricals will become a subsidiary of Voltas.