NAME: CPP Investments' $740 million investment in CtrlS
LAW FIRMS: Anagram Partners, Cyril Amarchand Mangaldas
JURISDICTION: India
PRACTICE AREAS: Corporate and M&A
INDUSTRY SECTORS: Technology and telecommunications
CPP Investments' C$1 billion ($740 million) investment in CtrlS is our Deal of the Month for June.
Canada's CPP Investments committed C$1 billion ($740 million) to CtrlS, a Hyderabad-based data centre operator, acquiring an 8.2 percent stake for 40 billion rupees and forming a joint venture to develop data centre campuses across India. CPP Investments will hold 48 percent of the joint venture, with CtrlS retaining a 52 percent stake. Founded in 2007, CtrlS operates 19 data centres across nine key markets in India with over 370 MW of capacity.
The transaction reflects surging investor interest in India's data centre sector as hyperscale construction accelerates, driven by US cloud majors and New Delhi's push to attract artificial intelligence investment.
Anagram Partners advised CtrlS, with the team led by partners Shuva Mandal and Ankit Mishra, supported by Jagdish Kaisare, Anoushka Shetty and Siddhant Sahu. Cyril Amarchand Mangaldas advised CPP Investments.