[SINGAPORE] CapitaLand India Trust (Clint) has entered into definitive agreements to divest 20.2 per cent of its stakes in three data centre assets under development to the CapitaLand India Data Centre Fund (CIDCF).
The divestments have an estimated total purchase consideration of around seven billion rupees (S$99.7 million), the manager said on Wednesday (Dec 31).
As part of the trust’s portfolio reconstitution strategy, the divestments allow it to monetise and realise the value of its developments to strengthen its balance sheet.
Gauri Shankar Nagabhushanam, chief executive officer of CapitaLand India Trust Management, said: “By unlocking value earlier in the development cycle, while retaining a significant stake in the assets, we are able to support our development pipeline and enhance financial flexibility.”
The remaining stakes in the assets allow Clint to stay invested in the future growth of India’s data centre sector, he added.
“The partnership with CIDCF also provides Clint the right to participate in a partial stake in future data centre developments by our sponsor and potentially buy back the assets or explore exit options such as an initial public offering of the assets,” Nagabhushanam said.
The manager noted that Clint made its first divestment since its 2007 listing in September with the 11 billion rupee sale of two assets, CyberVale in Chennai and CyberPearl in Hyderabad.
The total purchase consideration of the three data centres is based on 20.2 per cent of the total enterprise value of 52 billion rupees as at Dec 31, 2025, the manager said. It is subject to post-completion adjustments for liabilities, working capital and capital expenditure.
The three data centre assets include two towers of CapitaLand DC Mumbai in Airoli, Navi Mumbai. Tower 1 is complete, with a power capacity of 34 to 50 megawatts (MW), while Tower 2 is under development, with a power capacity of 37 to 55 MW.
The two other assets are also under development – CapitaLand DC Chennai, located in Ambattur, Chennai, with a power capacity of 34 to 53 MW, as well as CapitaLand DC Hyderabad in Madhapur, Hyderabad, with a power capacity of 27 to 42 MW.
Shares of Clint ended Tuesday 0.8 per cent or S$0.01 higher at S$1.23, before the news.
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