Flipkart, the Walmart-owned e-commerce giant, has redomiciled from Singapore to India as it prepares for its upcoming initial public offering (IPO). This move is seen as a strategic step to facilitate the IPO process within India’s regulatory framework. The company has initiated discussions with merchant bankers and plans to submit its draft prospectus later this year.
Meanwhile, Airtel is gearing up for a significant investment in its data center arm, Nxtra. The telecom company is set to raise $1 billion, with Airtel and Carlyle each contributing $300 million, and Alpha Wave Global injecting $400 million as a new investor. The funds raised will be utilized to expand Nxtra’s data center operations, positioning Airtel to compete with major players like Reliance, Adani, Tata, and Larsen & Toubro in India’s digital infrastructure landscape.
This investment initiative coincides with Airtel’s collaboration with Google and the Adani Group to establish a $15 billion gigawatt-scale AI hub and data center complex in Visakhapatnam. This facility will host Google’s TPUs for AI model training and operation, with Airtel providing the necessary connectivity and fiber infrastructure support.
Source: Tech-Economic Times