La Caisse Acquires 24% Stake in Altius for ₹12,100 Crore Ahead of Public Listing
Canadian pension fund La Caisse has acquired a 24% stake in Altius Telecom Infrastructure Trust for ₹12,100 crore. This investment comes ahead of Altius' planned transition to a publicly listed InvIT through an offering expected to raise around Rs 6,000 crore. The valuation of the InvIT pegs at $5-6 billion, according to industry experts.
La Caisse's entity, CDPQ Infrastructures Asia III Inc, received clearance from the Competition Commission of India (CCI) for the acquisition on Tuesday. Altius owns and operates over 258,000 telecom towers and sites across India, enabling mobile operators to deliver 4G and 5G services.
Sam Pollock, CEO of Brookfield's Infrastructure group, said that La Caisse's investment brings another long-term institutional partner to the platform and reflects confidence in the strength of the business. Emmanuel Jaclot, executive vice-president and head of infrastructure and sustainability at La Caisse, stated that India's economy growth and increasing mobile data use require digital infrastructure expansion.