Brookfield sponsored InvIT is acquiring Space Teleinfra for Rs 900 cr

Brookfield-backed Tower Infrastructure Trust has acquired Space Teleinfra Pvt Ltd (STIPL) for Rs 900 billion.

Space Teleinfra is a shared telecommunications infrastructure provider for voice and data connectivity. It started operations in 2016 with a focus on providing telecommunications infrastructure for cellular network operators for Outdoor Small Cells (ODSC), In-Building Solutions (IBS) and Roof Top Towers. The company has a well-diversified customer base across all three major wireless carriers and has a presence across India.

Tower Infrastructure Trust is a SEBI registered infrastructure investment trust sponsored by Brookfield and backed by leading global infrastructure investors. It has a significant market share in the Indian outdoor macro tower market.

Ankit Goel and Radhey R. Sharma, founders of STIPL, will receive consideration in the form of a combination of cash and units to Tower InvIT through a preferential allocation of units.

“In view of the synergies with Tower InvIT, this transaction offers considerable growth opportunities for STIPL. With the advent of 5G and data consumption trends, seamless indoor connectivity is becoming just as important as outdoor connectivity, and this transaction will open new horizons for STIPL. With our ownership of units from Tower InvIT, we look forward to participating in the next growth chapter in the joint telecommunications infrastructure business, ”said Ankit Goel, co-founder and CEO of STIPL.

“This transaction marks the growth of the indoor connectivity business in India. After this transaction, the joint platform would now be able to offer MNOs outstanding and holistic solutions with first-class service offerings in all segments. With the strong management teams from STIPL and Tower InvIT as well as the fixed investors, STIPL is well positioned to continue its leadership position. ”Said Radhey R. Sharma, co-founder and director of STIPL.

In 2019, Brookfield Infrastructure Partners bought Reliance Jio’s 1.3 lakh towers for about Rs.25,000 billion. After the deal, Brookfield became a sponsor of the Tower Infrastructure Trust. The Hindu BusinessLine