Nxtra Data, the data center arm of the Bharti Airtel group, has secured an investment commitment of USD 1 billion from Alpha Wave Ventures as the lead investor, Carlyle Group – an existing shareholder of the Company, Anchorage Capital and Bharti Airtel Limited – the controlling shareholder of the Company.
Cyril Amarchand Mangaldas has advised Bharti Airtel on this investment while Shardul Amarchand Mangaldas & Co. guided Alpha Wave Ventures and Trilegal acted for Carlyle Group on this transaction.
The investment will be structured across four parties: Alpha Wave Global will contribute USD 435 million, Carlyle up to USD 240 million, and Anchorage Capital USD 35 million, with Bharti Airtel investing the remainder to complete the USD 1 billion capital injection.
Nxtra Data is one of the leading data center companies in India offering secure, scalable and enterprise-grade data center services nationwide.
Nxtra Data specialises in designing, building and operating the largest network of smart, resilient, and sustainable data centers in India across 120+ locations, serving hundreds of customers covering Enterprises, Hyperscalers, Governments, SMEs, OTT, and CDN.
Post-transaction, Nxtra will be valued at approximately USD 3.1 billion, and Airtel will maintain a controlling stake in the subsidiary.
CAM’s transaction team was led by senior partner Ravindra Bandhakavi and partners Amarta Roy and Anandita Kaushik with assistance from senior associates Radhika Shukla and Sudarshan Srikanth and associates Aeruva Akash and Rhea Prasad.
The Competition Law aspect was led by partner Dhruv Rajain, with assistance from senior consultant Anshul Jain, senior associate Rajat Sharma and associate Riddhima Sethi. The analysis on intellectual property aspects was led by partner – (Co-Head – Digital + | TMT) Arun Prabhu with assistance from principal associate Apoorva Sundar.
SAM’s deal team was led by Regional Practice Head – M&A and Private Equity Raghubir Menon , partners Taranjeet Singh, Kushal Sinha, and Dhrupad Pant along with principal associate Ishita Sehgal, Associates Hetal Doshi and Mihira Jaggi.
The Due Diligence team was led by partner Bhoumick Vaidya and other partners from the deal team, along with principal associates Harshini Kotecha, Vardhman Mehta, Ishita Sehgal, senior associates Shrungar Bhuva, Aakarsh Nashier, Asmita Hegde, Tasneem Zaveri; Veda Handa and associates Mihira Jaggi, Gunjan Shrivastav, Anushka Agarwal, Yash Bhansali, Khushi Joshi, Nazish Prabhakar, Shivam Tiwari, and Rahul Rajasekar.
The Competition team was led by partner Harman Singh Sandhu, along with principal associates Rahul Shukla and Sonali Charak and associates Anushka Gupta, Kajal Jamdare and Mouli Jain.
Trilegal’s transaction team was led by partners Abhishek Guha, Tanya Uppal. The competition law aspect was dealt by partner Gauri Chabbra
