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.
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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.”
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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.
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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.
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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.
