Bharti Airtel will seek shareholders approval for sale of its Data Center and Managed Services (DCMS) business to its wholly-owned subsidiary Nxtra Data ltd for about Rs177 crore.
"To enhance focus and develop capacity and capability across geographies in order to build scale, ability to meet customer demand and develop products to meet customer requirements, the company has decided to undertake the Data Center business through a separate entity," the company said in a BSE filing today.
According to the filing, the sale/transfer consideration shall not be less than Rs1,771 million (Rs177.1 crore)."The transfer consideration has been arrived at on the basis of enterprise value of the DCMS business after reducing the liabilities in relation to the said business," it added.Bharti Airtel owns seven operational data centres across the country.
Out of them, two are in Noida, one each in Chennai, Bangalore, Pune, Bhubaneswar and Mumbai.The company's board of directors approved the transaction during their meeting held on July 30.