The Competition Commission of India (CCI) has cleared US-based Alpha Wave Global’s proposed acquisition of a stake in Nxtra Data. Alpha Wave Global is acquiring the stake through Alpha Wave Ventures II, LP, a private equity fund co-managed by the alternative asset manager.
In March 2026, Bharti Airtel had announced that Nxtra Data secured a $1 billion investment led by Alpha Wave Global, Carlyle and Anchorage Capital. Airtel, which will also participate in the investment round, will retain a controlling stake in Nxtra. As part of the deal, Alpha Wave Global will invest $435 million, with the remainder being infused by Carlyle, Anchorage Capital and Airtel.
Following completion of the transaction, Nxtra is expected to be valued at approximately $3.1 billion. Bharti Airtel said the investment will be used to fund artificial intelligence data centre expansion and support the company’s next phase of growth.
