Altius Telecom Infrastructure Trust to Raise Up to Rs 9,000 Crore

Background

Altius Telecom Infrastructure Trust, backed by Brookfield Asset Management, is planning to make its market debut by raising up to Rs 9,000 crore. The trust aims to raise around Rs 3,000 crore in a pre-IPO round, with the remaining amount to be raised through the initial public offering (IPO).

Fundraising Plan

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The proposed fundraising is expected to be directed towards reducing the debt of the InvIT and its underlying assets. A significant portion of the funds will also be used for a secondary stake sale by Brookfield.

Market Trends

The current market trend indicates a strong demand for long-term, stable, and high-yield products like InvITs from domestic investors. However, foreign investor demand has waned due to high interest rates in developed markets and sharp currency depreciation.

Industry Outlook

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The National Highways Authority of India (NHAI) is launching an initial public offering of its infrastructure investment trust this week, with a price band of Rs 99 to Rs 100 a unit for its Rs 6,000-crore IPO. Other InvIT operators, including KKR, Cube Highways, and EAAA, are also working on their IPOs.

Altius Portfolio

The InvIT was set up in 2019 when Brookfield acquired Reliance Jio's telecom towers in a deal worth over Rs 25,000 crore. Since then, Altius has grown its portfolio of telecom assets from approximately 136,000 telecom sites to over 257,000 at the end of 2025.

Financial Performance

Altius' revenues have grown from around Rs 3,600 crore in FY21 to approximately Rs 9,800 crore in FY25, while EBITDA grew from Rs 3,000 crore to around Rs 7,000 crore in the same period.