Bharti Airtel, India's second-largest telecom operator, has raised $1 billion for its data center subsidiary Nxtra Data from private equity firms Alpha Wave Global, Carlyle, and Anchorage Capital, valuing the unit at approximately $3.1 billion.
Funding Details
- The investment includes $435 million from Alpha Wave Global, $240 million from Carlyle (an existing investor), and $35 million from Anchorage Capital, with Airtel contributing the remaining amount.
- The transaction was announced in a stock exchange filing on Monday and is expected to close upon regulatory approvals.
Expansion Strategy
- The capital will fund the expansion of Nxtra Data's data center capacity across India.
- Current capacity stands at 300MW, with a target to scale to 1GW within the next few years.
- The goal is to capture around 25% of the Indian data center market.
Current Operations
- Nxtra Data operates 14 large data centers and over 120 smaller, decentralized facilities located near end users and devices.
- These facilities serve enterprises, hyperscalers, and government clients, as noted by Gopal Vittal, Airtel's executive vice chairman.