Bangalore, July 24: Last year Bharti Airtel (“Airtel”) announced plans for its subsidiary Nxtra Data Limited (“Nxtra”) to deploy low environmental impact fuel cell installation at its data center in Karnataka, making Nxtra the first data center company in India to deploy fuel cell technology to reduce carbon emissions at its data centers.
Dua Associates, Bangalore advised and assisted Nxtra Data Limited, on the acquisition of property involving an investment of ₹. 1,200+ crores in Bengaluru, to set-up its second data center facility here. This acquisition is in the context of Nxtra looking to double its Data Center Capacity by 2025 and capture a greater share of India’s burgeoning data center market.
The Firm advised acted and assisted Nxtra on all aspects of the transaction which included conducting title due diligence of the property; and drafting, reviewing, negotiating and finalizing the transaction documents.
The team who worked on this deal are Partners, Vinuth Gowda and P.K. Shrikara; and Associate, Brijesh Yadav. The deal concluded on July 10, 2023 and is valued at Rs 114,00,00,000/-.
This significant real estate transaction provides a boost to the Firm’s real estate practice, as it is envisaged as Nxtra’s largest data center in India, to be set up in two phases, involving around ₹. 600+ crores in each phase.
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