Srinagar : Bharti Airtel (NSE: BHARTIARTL) (“Airtel”) on Tuesday announced an investment of US$ 1 Billion by Alpha Wave Global, Carlyle (NASDAQ: CG) and Anchorage Capital, through their affiliates, in Nxtra Data Limited (“Nxtra”), a subsidiary of Bharti Airtel engaged in the data center business, to expand its network across India and accelerate growth. Airtel will also participate in this round.
Alpha Wave Global, Carlyle, and Anchorage Capital are set to invest a total of US$710 million in Nxtra, with Airtel contributing the remaining funds. Airtel will maintain a controlling stake in Nxtra, and the deal is pending regulatory approvals in India. Nxtra, a pioneer in deploying AI for data center operations in India, plans to utilize the investment to enhance its infrastructure and service offerings, targeting enterprises, hyperscalers, and government organizations. The Indian data center market is experiencing significant growth, projected to expand at a CAGR of approximately 21% from 2024 to 2030, reaching nearly 3,400 MW of IT capacity. Nxtra currently operates with around 300 MW capacity and aims to scale to 1 GW, aspiring to capture about 25% of the market share. The company emphasizes strategic partnerships with global investors to bolster its growth and enhance its digital infrastructure capabilities. Key stakeholders express confidence in Nxtra’s potential, highlighting its progress in expanding capabilities and customer relationships. The partnership with Airtel is viewed as a strategic move to capitalize on India’s digital infrastructure demands. Nxtra operates 14 core data centers and over 120 edge facilities across India, offering a range of services including co-location, cloud infrastructure, and disaster recovery. The company is also developing AI-ready campuses in major cities and has partnered with Google for a significant AI data center project backed by a $15 billion investment.
