Cyril Amarchand Mangaldas (CAM), Shardul Amarchand Mangaldas (SAM) and Trilegal advised on the USD 1 billion investment round for Nxtra Data Limited.

Nxtra Data Limited is one of the leading data centre companies in India, offering secure, scalable and enterprise-grade data centre services nationwide, with a network spanning over 120 locations.

CAM advised Nxtra Data Limited, the data centre arm of the Bharti Airtel group, in securing an investment commitment of USD 1 billion (in aggregate) from Alpha Wave Ventures (as the lead investor), Carlyle Group (an existing shareholder of the company), Anchorage Capital and Airtel Limited (the controlling shareholder of the company).

The transaction team at Cyril Amarchand Mangaldas was led by Senior Partner Ravindra Bandhakavi, along with Partners Amarta Roy and Anandita Kaushik, with assistance from Senior Associates Radhika Shukla and Sudarshan Srikanth, and Associates Aeruva Akash and Rhea Prasad.

The competition law aspects were led by Partner Dhruv Rajain, with assistance from Senior Consultant Anshul Jain, Senior Associate Rajat Sharma and Associate Riddhima Sethi.

The intellectual property aspects were led by Partner Arun Prabhu (Co-Head – Digital + TMT), with assistance from Principal Associate Apoorva Sundar.

SAM acted as legal counsel to Alpha Wave Global on its USD 435 million investment in Nxtra Data Limited as part of the broader USD 1 billion primary equity infusion round alongside Carlyle, Anchorage Capital and Airtel Limited.

The transaction team at Shardul Amarchand Mangaldas was led by Raghubir Menon, Regional Practice Head – M&A and Private Equity, along with Partners Taranjeet Singh, Kushal Sinha and Dhrupad Pant, and included Principal Associate Ishita Sehgal, and Associates Hetal Doshi and Mihira Jaggi.

The due diligence team was led by Raghubir Menon, along with Taranjeet Singh, Dhrupad Pant, Kushal Sinha and Partner Bhoumick Vaidya, with support from Principal Associates Vardhman Mehta, Harshini Kotecha and Ishita Sehgal; Senior Associates Shrungar Bhuva, Aakarsh Nashier, Asmita H., Tasneem Zaveri and Veda Handa; and Associates Mihira Jaggi, Gunjan Shrivastav, Anushka Agarwal, Yash Bhansali, Khushi Joshi, Nazish Prabhakar, Shivam Tiwari and Rahul Rajasekar.

The competition team was led by Partner Harman Singh Sandhu, along with Principal Associates Rahul Shukla and Sonali Charak, and Associates Anushka Gupta, Kajal Jamdare and Mouli Kaushal Jain.

Trilegal acted on behalf of the Carlyle Group.

The transaction team was led by Partners Abhishek Guha and Tanya Uppal. Partner Gauri Chabbra advised on the competition law aspects.