The Carlyle Group has acquired a 24.04 per cent stake in Bharti Airtel’s data centre subsidiary, Nxtra Data Limited for Rs 17.88 billion.

In a filing with the Bombay Stock Exchange, Airtel informed that upon conversion of 17.88 million non-cumulative 0.0001 per cent compulsory convertible preference shares of face value Rs 1,000 each aggregating to Rs 17.88 billion, CA Cloud Investments (Carlyle) now holds 24.04 per cent stake in Nxtra.

Carlyle had announced in July 2020 that it intended to acquire a 25 per cent stake in Nxtra at a valuation of $1.2 billion.