Airtel’s data centre arm Nxtra raises $1bn

NEW DELHI : Bharti Airtel on Monday announced an investment of $1 billion by Alpha Wave Global, Carlyle and Anchorage Capital, through their affiliates, in Nxtra Data, the telecom company’s subsidiary in the data centre business.

Airtel will also participate in the round as part of Nxtra’s efforts to expand its network across the country and accelerate growth.

As part of the pact, Alpha Wave Global will invest $435 million, Carlyle $240 million, Anchorage Capital $35 million, with the rest coming from Airtel, the company said in a statement. “The investors’ final shareholding will be subject to finalised post-closing adjustments. Airtel will continue to retain a controlling stake in Nxtra,” it said.

The data centre outfit plans to extensively scale its infrastructure and broaden its portfolio of services amid rapid growth in the sector.

According to a Savills India report, India’s data centre market is expected to grow at a compounded annual growth rate of around 21 per cent between 2024 and 2030 to reach nearly 3,400MW of IT capacity.

“At Nxtra, we have built one of India’s most advanced and sustainable data centre networks, designed to meet the evolving needs of enterprises, hyperscalers, and govt. With around 300MW capacity today, we aim to scale to 1GW in the few years, targeting around 25% market share,” Airtel VC Gopal Vittal said.
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