Carlyle completes acquisition of 24% stake in Airtel's data centre business

The Carlyle Group has acquired a 24.04% stake in a wholly owned subsidiary of Bharti Airtel engaged in the data centre business.

The multinational private equity company had in July 2020 announced that it intended to invest up to $235 million to acquire a 25% stake in Nxtra Data at a valuation of $1.2 billion.

“We wish to submit that upon conversion of 17.88 million non-cumulative 0.0001 percent compulsory convertible preference shares of face value Rs 1000 each aggregating to Rs 1,788 crore, CA Cloud Investments (Carlyle) now holds 24.04% stake in Nxtra,” Bharti Airtel said in a filing.

Nxtra currently runs data centres in more than 120 locations, providing its customers with co-location services, cloud infrastructure, managed hosting, data backup, disaster recovery, and remote infrastructure management.