Altius Telecom InvIT IPO to combine pre-Issue placement of ~INR 3,000 crore with public offer aimed in H2 CY2026, planning to pare debt and broaden ownership
Brookfield-backed Altius Telecom Infrastructure Trust is preparing to raise up to INR 9,000 crore by an InvIT offer in the second half of calendar 2026. This may include a pre-IPO placement of ~INR 3,000 crore, according to a report. The proceeds will primarily be used for deleveraging at the InvIT and its underlying assets, and could include a secondary component from Brookfield.
If launched, Altius Telecom InvIT IPO would be among the largest InvIT listings from the digital infrastructure space, reflecting a broader shift as sponsors tap India’s deepening domestic capital pools for yield-oriented products. The Altius plan comes alongside a busy InvIT calendar; for instance, NHAI-sponsored Raajmarg Infra Investment Trust opened an INR 6,000‑crore IPO today at an INR 99–100 price band.
Portfolio Scale After ATC India Buys
Formed in 2019 to house Reliance Jio’s towers, Altius (earlier Data Infrastructure Trust) has expanded sharply and, following the completion of ATC India’s acquisition in September 2024, operates an aggregated footprint of roughly 2.57 lakh telecom sites across brands such as Summit Digitel, Crest Digitel and ATC India under a unified Altius banner. The ATC India transaction closed at an enterprise value of about INR 18,149 crore, with ATC India contributing an estimated 76,000 sites.
In its acquisition announcement, Brookfield’s Arpit Agrawal said the deal complements the existing business and creates one of the largest tower platforms globally (ex‑China), underscoring the sponsor’s long-term commitment to India’s digital infrastructure.
Altius Telecom InvIT IPO: Financial Performance & Tenants
Altius’ revenue rose from about INR 3,600 crore in FY21 to roughly INR 9,800 crore in FY25, while EBITDA increased from about INR 3,000 crore to ~INR 7,000 crore over the same period, aided by portfolio additions and tenancy growth. The trust’s assets span ground‑based and rooftop towers as well as in‑building solutions, serving large telecom operators.
Market Context & Funding Mix
Altius Telecom InvIT pre‑IPO and IPO structure mirrors a trend in which InvITs are courting domestic institutions, family offices and HNIs as global rate cycles and currency swings have tempered FPI appetite. Investment bankers expect strong local participation to continue supporting primary issues in 2026, with several large listings across sectors on the anvil. “Foreign investors could add to the strong domestic institutional flow in 2026,” said Sunil Khaitan, head of India Financing Group at Goldman Sachs, in December.
Regulatory approvals and market conditions will guide Altius’ exact timelines and offer structure. However, Brookfield has not made any official comment on the proposed listing.
Altius Telecom Infrastructure Trust InvIT IPO: Key Highlights
- Fundraise: Up to INR 9,000 crore (INR 3,000 crore pre‑IPO; remainder via IPO in H2 CY2026), subject to approvals.
- Use of proceeds: Debt reduction at the InvIT/asset level; may include a sponsor secondary.
- Scale: ~2.57 lakh telecom sites post ATC India acquisition.
- ATC India deal: ~INR 18,149 crore EV; ~76,000 sites added.
- Financials: Revenue ~INR 9,800 crore (FY25) vs ~INR 3,600 crore (FY21); EBITDA ~INR 7,000 crore vs ~INR 3,000 crore.
Bottomline: Altius Telecom InvIT offer signals a pivot to public markets to refinance scale built through successive tower acquisitions, while leaning on deep domestic demand for yield assets. With timelines tied to approvals and market windows, investors will watch for the final issue structure, deleveraging roadmap and tenancy metrics as the InvIT readies an H2 CY2026 debut.