Investment firm eyes Rs7-7.5kcr, valuing Airtel’s data centre unit at 224,000-29,000 cr
Kolkata | Mumbai: Sovereign wealth funds, private equity funds and global infrastructure asset managers, including GIC of Singapore, ADIA, Stone peak, Digital Bridge, KKR and Permira are among those tapped to acquire US buyout group Carlyle’s 24.04% stake in Bharti Airtel’s data center arm, Nxtra Data Ltd (NDL), people aware of the matter said. The Carlyle Group, among the world’s largest investment firms, is looking to sell the stake for Rs 7,000-7,500 crore, valu- ing Airtel’s data centre unit at Rs 24,000~ 29,000 crore ($3-3.5 billion, inclusive of debt), the people cited said. Bharti Airtel owns 75.96% of Nxtra Data, a leading player in India’s data centre industry. Airtel has first right of refusal on the stake but is reckoned to have waived it, said the people cited. “Carlyle is working with Bank of America to help monetized its investment in Nxtra,” one of them said. “A formal sale process will get launched in the coming days and non-binding bids are expected by end-March.” The buyout group had bought the stake in Nxtra Data for Rs 1,788 crore in July 2020.
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