Carlyle to buy 25% stake in Airtels data centre arm for $235mn
Carlyle to buy 25% stake in Airtels data centre arm for $235mn 
News in Brief

Carlyle to buy 25% stake in Airtels data centre arm for $235mn

India Global Business Staff

Airtel's data centre business Nxtra will use the proceeds to continue to scale up its infrastructure and offerings across the country.

US based private equity player The Carlyle Group will acquire a 25 per cent stake in Bharti Airtel's data centre business, Nxtra Data, for $235 million. Nxtra, which is building multiple large data centres across India, will use the proceeds from deal to continue to scale up its infrastructure and offerings across the country.

The transaction, subject to regulatory approvals including the Competition Commission of India, values the Nxtra enterprise at approximately $1.2 billion, the companies said in a joint statement.

India is seeing a surge in demand for data centres as more businesses choose cloud computing, and consumer demand for digital services such as smartphone entertainment continues to grow, they added.

Neeraj Bharadwaj, Managing Director, Carlyle Asia Partners, said: “India is set to become one of the largest markets in the world for digital services. Airtel, with its proven track record of solid execution and customer focus, is well positioned to leverage the potential growth of data centres in India.”

In a move that renewed hope in India’s civil aviation circles, and sent waves of optimism in business circles, the Tata Group acquired beleaguered national carrier Air India for $2.4 billion last week. The transaction will be completed by December 2021.

Tata Group’s take over of Air India puts the competition on alert

Crowds at a wholesale vegetable market in Kolkata. According to the RBI, the real GDP growth for the first quarter of FY 2022-23 is projected at 17.2 per cent.

RBI says growth impulses strengthening, inflation trajectory favourable

Gadkari focuses on alternate fuels, EVs in clean transport push

India, UAE march towards Comprehensive Economic Partnership Agreement

India’s new Parliament on track to host 2022 Winter Session