Bharti Airtel said that CA Cloud Investments, an affiliate the US-based Carlyle Group, has completed the acquisition of 24.04% stake in the Indian telco’s data centre subsidiary Nxtra Data.
In a filing to the Bombay Stock Exchange, the telco major said, “… upon conversion of 17.88 million non-cumulative 0.0001% Compulsory Convertible Preference Shares of face value of Rs 1,000/- each aggregating to Rs 17,880 million, CA Cloud Investments (‘Carlyle’) now holds 24.04% equity stake in Nxtra Data Limited.”
Airtel continues to hold the remaining stake in the data centre company.
Airtel had announced the deal with Carlyle on July 1, 2020 to sell up to 25% of its stake in Nxtra Data to the Carlyle group for $235 million. In October 2020, Bharti Airtel had completed the issue of securities of its data centre subsidiary to CA Cloud Investments, after the approval by CCI was given on August 26.
Nxtra Data provides data centre colocation services through its 10 data centres located in India.