Bharti Airtel said that CA Cloud Investments, an affiliate of the US-based Carlyle Group, has completed the acquisition of 24.04% stake in the Indian telco's data centre subsidiary Nxtra Data.
The telco major said, “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.”
Airtel had announced the deal with Carlyle in 2020 to sell up to 25% of its stake in Nxtra Data to the Carlyle Group for $235 million. Airtel continues to hold the remaining stake in the data centre company.
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.
The Carlyle Group has been making investments in India since 2000, including SBI Life, SBI Card, HDFC, India Infoline, Delhivery, PNB Housing Finance, SeQuent Scientific, and Piramal Pharma.
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