Question :Nxtra Data Ltd is a wholly-owned subsidiary of —
(a) Bharti Airtel
(b) Reliance Jio
(c) Vodafone
(d) none of the above
Answer : (a)
Related facts
Context
- The Carlyle Group on Wednesday (1st July, 2020) announced that it will invest $235 million for approximately 25 per cent stake in Nxtra Data Ltd, a wholly-owned subsidiary of Bharti Airtel engaged in the data centre business.
- US-based Carlyle has prior experience in data centre ownership through investments in Coresite in the US and Itconic in Spain.
- Head quartered in New Delhi, Nxtra offers secure data centre services to leading Indian and global enterprises, hyperscalers, start-ups, SMEs and governments.
- The post-money enterprise valuation of Nxtra is approximately $1.2 billion and Carlyle will hold a stake of approximately 25% in the business upon completion of the transaction, with Airtel continuing to hold the remaining stake of approximately 75%.
By — Pankaj Pandey