Brookfield-backed Tower Infrastructure Trust to acquire Space Teleinfra for Rs 900 crore

Brookfield-backed Tower Infrastructure Trust has acquired Space Teleinfra Private Limited (STIPL), a leading indoor coverage solutions provider in India, for an equity consideration of Rs 900 crore. The transaction is funded through a combination of cash and units of Tower InvIT to be issued to selling shareholders.

STIPL, a leader in its key markets, is a fast-growing shared telecom infrastructure provider for voice and data connectivity. Ambit Private Limited acted as the exclusive financial advisor to the Shareholders.

Commenced operations in 2016 focused on providing telecom infrastructure to the mobile network; the company has grown multifold in a brief period. The company has a well-spread customer base across all the three significant MNOs with a pan-India presence.


Ankit Goel, Co-founder, and Managing Director, STIPL, said the transaction would outline significant growth opportunities for STIPL considering the synergies with Tower InvIT.

“With the onset of 5G and data consumption trends, seamless indoor connectivity becomes as essential as outdoor connectivity and this transaction will open new horizons for STIPL to lead this opportunity further. Through our ownership of units of Tower InvIT, we look forward to participating in the next chapter of growth in the shared Telecom Infrastructure business.”

The transaction is subject to certain regulatory and other customary conditions precedent common in transactions of this nature, said the company.