According to a Savills India report, India’s data center market is expected to grow at a CAGR of around 21% between 2024 and 2030 to reach nearly 3,400 MW of IT capacity.
Bharti Airtel announced an investment of $1 Billion by Alpha Wave Global, Carlyle and Anchorage Capital, through their affiliates, in Nxtra Data Limited.
Nxtra is a subsidiary company of Bharti Airtel which is engaged in the data center business. The Company says this investment will expand its network across India and accelerate growth.
As part of the pact, Alpha Wave Global will invest $435 million, Carlyle will infuse $240 million, Anchorage Capital will put in $35 million, and the rest funds will be infused by Airtel.
The final shareholding of the investors will be finalised in post-closing adjustments.
Airtel says it will continue to retain a controlling stake in Nxtra.
After this investment, Nxtra will deploy proceeds to accelerate its growth plans to extensively scale its infrastructure and broaden its portfolio of services.
Nxtra will also be catering to the evolving needs of enterprises, hyperscalers, and government organisations across the country.
India’s data center sector is currently witnessing rapid growth, driven by accelerating digital transformation across enterprises, rising adoption of cloud services, and expanding demand from hyperscalers.
“With ~300 MW capacity today, we aim to scale to 1 GW in the next few years, targeting ~25% market share,” Gopal Vittal, Executive Vice Chairman, Airtel, said.
Kapil Modi, Partner at Carlyle India Advisors says, “We have built a strong partnership with Airtel and continue to believe Nxtra is well-positioned to benefit from India’s long-term digital infrastructure tailwinds. We look forward to further working with Airtel and Nxtra’s management team to build the company into one of the largest datacenter players in India.
