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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Bharti Airtel Limited    532454   INE397D01024

BHARTI AIRTEL LIMITED

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Carlyle to buy 25% of Bharti Airtel's data centre arm for $235 million

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06/30/2020 | 11:47pm EDT
The logo of The Carlyle Group is displayed at the company's office in Tokyo

Carlyle will buy a 25% stake in Indian telecom firm Bharti Airtel Ltd's data centre arm for $235 million, the U.S. private equity group said on Wednesday, as it taps into the rapid growth of digital services in India.

The acquisition, by an affiliate of Carlyle, will give Airtel's Nxtra Data Ltd an enterprise valuation of about $1.2 billion, the companies said in a statement. Airtel will hold the remaining 75% stake in Nxtra.

Nxtra, which is building multiple large data centres across India, will use the proceeds from the deal to scale up its infrastructure, the companies said.

India is seeing a surge in demand for data centres as more businesses choose cloud computing, and consumer demand for digital services such as smartphone entertainment continues to grow, they added.

Cloud and entertainment services represent the next revenue frontier for traditional telecom carriers like Airtel, as voice and data rates in India remain among the cheapest in the world.

Airtel's local rival Jio, controlled by billionaire Mukesh Ambani, has a cloud tie-up with Microsoft, under which it will build data centers hosted on Microsoft's Azure cloud.

(Reporting by Sachin Ravikumar; Editing by Shailesh Kuber)


Stocks mentioned in the article
ChangeLast1st jan.
BHARTI AIRTEL LIMITED -1.07% 397.25 End-of-day quote.-12.85%
MICROSOFT CORPORATION -2.48% 214.22 Delayed Quote.35.84%
RELIANCE INDUSTRIES LTD 0.02% 2176.2 Delayed Quote.45.07%
THE CARLYLE GROUP INC. 0.07% 27.7 Delayed Quote.-13.72%
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Financials
Sales 2021 1 006 B 13 710 M 13 710 M
Net income 2021 -123 615 M -1 685 M -1 685 M
Net Debt 2021 1 196 B 16 302 M 16 302 M
P/E ratio 2021 -17,7x
Yield 2021 0,46%
Capitalization 2 166 B 29 534 M 29 534 M
EV / Sales 2021 3,34x
EV / Sales 2022 2,92x
Nbr of Employees 19 650
Free-Float 43,6%
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Mean consensus BUY
Number of Analysts 29
Average target price 681,52 INR
Last Close Price 397,25 INR
Spread / Highest target 127%
Spread / Average Target 71,6%
Spread / Lowest Target 34,7%
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Managers
NameTitle
Gopal Vittal CEO, Managing Director & Executive Director
Sunil Bharti Mittal Chairman
Ajai Puri Chief Operating Officer-India & South Asia Region
Badal Bagri Co-Chief Financial Officer
Nakul Sehgal Co-Chief Financial Officer
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