Bharti Airtel has announced a substantial investment of US$1 billion in its data centre subsidiary, Nxtra Data Limited. The investment round is led by Alpha Wave Global, Carlyle, and Anchorage Capital, with Bharti Airtel also participating. Alpha Wave Global will contribute US$435 million, Carlyle US$240 million, and Anchorage Capital US$35 million, while Airtel will provide the remaining funds. The investment is aimed at expanding Nxtra’s network across India and accelerating its growth.
Post-transaction, Nxtra is expected to be valued at approximately US$3.1 billion, with Airtel retaining a controlling stake. The deal is subject to regulatory approvals in India. Nxtra plans to use the investment to enhance its infrastructure and broaden its service portfolio to meet the growing demands of enterprises, hyperscalers, and government organisations.
India’s data centre sector is experiencing rapid growth, driven by digital transformation, increased cloud service adoption, and rising demand from hyperscalers. A Savills India report projects the market to grow at a CAGR of around 21% between 2024 and 2030, reaching nearly 3,400 MW of IT capacity.
Gopal Vittal, Executive Vice Chairman of Airtel, highlighted Nxtra’s ambition to scale its capacity from the current ~300 MW to 1 GW in the coming years, aiming for a ~25% market share. Strategic partnerships with global investors and technology leaders are central to Nxtra’s growth strategy, enabling the company to deliver next-generation digital infrastructure solutions at scale.
Kapil Modi, Partner at Carlyle India Advisors, expressed confidence in Nxtra’s potential to benefit from India’s digital infrastructure growth. Rick Gerson, Co-Founder & CIO of Alpha Wave Global, emphasised the opportunity for AI-first businesses in India, while Navroz D. Udwadia, Co-Founder of Alpha Wave Global, noted the significant potential for data centre capacity expansion in India.
Nxtra operates 14 large core data centres and over 120 edge facilities across India, offering a range of services including co-location, cloud infrastructure, and edge computing. The company is developing AI-ready campuses in major cities and has partnered with Google for a gigawatt-scale AI data centre campus.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).