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Bharti Airtel share rises after Carlyle eyes 25% stake in its data centre business

Carlyle Group will make the investment in Bharti Airtel's Nxtra Data at a valuation of $1.2 billion. Bharti Airtel will continue to hold the remaining 75 percent holding in Nxtra Data.

July 01, 2020 / 10:13 PM IST

Bharti Airtel share price was up over 2 percent in morning trade on July 1 after the company said private equity group Carlyle will buy a 25 percent stake in Bharti Airtel's data centre business for $235 million.

Carlyle Group will make the investment in Bharti Airtel's Nxtra Data at a valuation of $1.2 billion. Bharti Airtel will continue to hold the remaining 75 percent holding in Nxtra Data.

The stock price jumped over 31 percent in the last 3 months and was trading at at Rs 565.00, up Rs 5.35, or 0.96 percent at 09:26 hours. It has touched an intraday high of Rs 574.00 and an intraday low of Rs 565.00.

Private equity player Carlyle will make the investment though an entity called Comfort Investments II.