Nxtra plans $1 billion fundraise; Alpha Wave set to join Airtel and Carlyle

Summary

Nxtra Data is preparing to raise $1 billion in fresh capital led by Alpha Wave Global to expand its AI-ready infrastructure, scale capacity and strengthen its position in India’s rapidly growing data center market.

NEW DELHI/MUMBAI, March 9, 2026 — Nxtra Data, the data center arm of Bharti Airtel, is preparing to raise about $1 billion in primary capital as it accelerates expansion into AI-ready infrastructure, according to industry reports.

The round is expected to be led by Alpha Wave Global, an investment firm linked to Abu Dhabi’s Deputy Ruler Sheikh Tahnoon bin Zayed Al Nahyan, marking its entry as a new strategic investor alongside existing backers Bharti Airtel and Carlyle.

Expansion targets gigawatt scale

The planned capital raise comes as Nxtra targets a significant increase in capacity from roughly 120–130 megawatts (MW) currently to about 1 gigawatt (GW) over the next three to four years.

The company aims to expand its market share in India’s fast-growing data center sector while competing with major players including AdaniConneX, Reliance and NTT.

Focus on AI-driven demand

The fundraising aligns with rising demand for data center infrastructure to support artificial intelligence workloads, cloud computing and enterprise digitization.

Nxtra is also exploring opportunities linked to large-scale AI infrastructure projects in India, including developments planned in Visakhapatnam, though specific partnerships and deployment details remain under discussion.

Investor backing and financial profile

The investment round is expected to include participation from Alpha Wave, Bharti Airtel and Carlyle, though final allocations have not been publicly confirmed.

Bharti Airtel carved out Nxtra in 2020, and Carlyle acquired a 24.04% stake in 2021 for $235 million at a valuation of about $1.2 billion.

For the fiscal year ended March 2025, Nxtra reported net profit of ₹224.3 crore on revenue of ₹2,078.5 crore.

Analysts say the new funding round could significantly increase Nxtra’s valuation as the company prepares for long-term growth and a potential future public listing.

Why this matters

• Reflects surging investment in AI-ready infrastructure.
• Highlights India’s growing role in global data center expansion.
• Strengthens Nxtra’s competitive position in a crowded market.
• Signals rising investor interest in digital infrastructure assets.

FAQs

Q1. Who is leading the investment round?

Alpha Wave Global is expected to lead the funding round alongside existing investors.

Q2. Why is Nxtra raising funds now?

To expand capacity and support growing demand for AI and cloud infrastructure.

Q3. What is Nxtra’s current market position?

It operates multiple core and edge data centers across India with about 120–130 MW capacity.

Q4. Is Carlyle exiting?

No. Carlyle is expected to remain invested.