Bharti Airtel has issued the shares of its subsidiary Nxtra Data to CA Cloud Investments, an affiliated entity of Carlyle Asia Partners, following the recent approval by the Competition Commission of India (CCI) to the $235 million deal.

According to Airtel’s regulatory filing, after completion of other condition precedents agreed between the parties, the first closing has been completed and the securities of Nxtra Data Limited have been issued to CA Cloud Investments.

On July 1, 2020, Airtel had announced that, on completion of the deal, Carlyle Group will be acquiring a 25 per cent stake in Nxtra Data with Airtel continuing to hold the remaining stake of about 75 per cent.

The enterprise valuation of Nxtra was pegged at $1.2 billion.