Nxtra picks up 11.7% stake in Avaada MHAmravati

Nxtra Data, a subsidiary of the Bharti Airtel, has entered into a pact to buy 5.1 million equity shares in Avaada MHAmravati Private Ltd. which amounts to an 11.696% stake in the company.

The transaction was carried out at Rs 10 per equity share, taking the total investment to Rs 5.12 crore.

Avaada MHAmravati is a special purpose vehicle formed for the purpose of owning and operating the captive power plant, in terms of the regulatory requirement for captive power consumption under electricity laws.


Incorporated in December 2019, Avaada MHAmravati is a Subsidiary of Avaada Energy Private Limited, which is primarily engaged in the business of development and generation of Energy and establishing, commissioning, setting up, operating and maintaining electric power generating stations based on conventional/non-conventional resources and setting up of infrastructure projects on Engineering, Procuring and Constructing (EPC) on a contract basis.