DIT Surpasses Indus Towers to Become India’s #1 Mobile Tower Company

DIT has surpassed Indus Towers to become India’s largest mobile tower company. DIT acquired American Tower’s Indian operations, expanding its portfolio to 257,000 sites. This acquisition marks Brookfield’s third investment in the Indian telecommunications sector.

CONTENTS:

• DIT surpasses Indus Towers as India’s largest tower company.
• Brookfield’s third telecom acquisition in India.

On Thursday, Data Infrastructure Trust (DIT) announced that it has overtaken Indus Towers to become the largest mobile tower company in India. This achievement follows DIT’s acquisition of American Tower Corporation’s Indian operations.

Backed by Brookfield Asset Management and investors such as British Columbia Investment Management Corporation (BCI) and GIC, DIT purchased American Tower’s 76,000 communications sites in India for an enterprise value of ₹18,200 crore (approximately USD 2.2 billion). This acquisition expands DIT’s portfolio to a total of 257,000 telecom sites, reinforcing its commitment to enhancing connectivity across India.

DIT’s telecom infrastructure portfolio will now operate under the new brand name, Altius. As of June 30, 2024, Indus Towers, owned by the Bharti Group, had a portfolio of 225,910 sites. The acquisition of ATC India marks Brookfield’s third move in the Indian telecommunications sector.

In 2022, Brookfield acquired 6,300 indoor business solution sites and small cell sites, and in 2020, it bought approximately 175,000 towers from Reliance Industrial Investments and Holdings Limited. In total, Brookfield manages around USD 29 billion in assets across infrastructure, real estate, renewable power, transition, and private equity in India.