CapitaLand India Trust divests data centre stakes
Author: Joe Peck
CapitaLand India Trust (CLINT), a Singapore-listed business trust investing in data centres, IT parks, industrial facilities, and logistics across India, has entered into definitive agreements to divest 20.2% stakes in three data centre assets under development to CapitaLand India Data Centre Fund (CIDCF).
The transaction has an estimated total purchase consideration of ₹7.02 billion (S$99.73 million; £57.8 million). The consideration is based on 20.2% of the combined enterprise value of the three assets, amounting to ₹51.97 billion (S$738.2 million; £428.3 million) as of 31 December 2025.
This valuation will be adjusted for liabilities, working capital, and capital expenditure, and remains subject to post-completion adjustments.
According to the Trust, the agreed enterprise value was negotiated on a willing-buyer and willing-seller basis and represents a premium to the independent valuation of ₹45.70 billion (S$649 million; £376.6 million) as at 31 December 2025.
Details of the data centre assets
The three data centres included in the transaction are located in Mumbai, Chennai, and Hyderabad.
In Navi Mumbai, CapitaLand DC Mumbai consists of two towers in Airoli. Tower one is completed with an IT power capacity of 34MW and a gross capacity of 50MW, while tower two remains under development with planned capacities of 37MW IT and 55MW gross.
CapitaLand DC Chennai, located in Ambattur, is under development and is expected to provide 34MW of IT capacity and 53MW of gross capacity.
CapitaLand DC Hyderabad, situated in Madhapur, is also under development, with planned capacities of 27MW IT and 42MW gross.
In September 2025, CLINT divested CyberVale in Chennai and CyberPearl in Hyderabad, marking the Trust’s first divestment since its listing in 2007. The partial divestment of its data centre portfolio follows this earlier transaction and forms part of what CLINT describes as its broader approach to managing and realising the value of its development assets.
Commenting on the transaction, Gauri Shankar Nagabhushanam, Chief Executive Officer of CapitaLand India Trust Management, the trustee-manager of CLINT, says, “The partial divestment reflects continued execution of our portfolio reconstitution strategy.
“By unlocking value earlier in the development cycle while retaining a significant stake in the assets, we are able to support our development pipeline and enhance financial flexibility.
“We are pleased to be partnering with CIDCF and remain invested in the future growth of India’s data centre sector through our remaining stake in the portfolio.
“The partnership with CIDCF also provides CLINT the right to participate in a partial stake in future data centre developments by our sponsor and potentially buy back the assets or explore exit options such as an initial public offering of the assets.
“Post-transaction, CLINT remains well-positioned to pursue accretive and higher yielding investment growth opportunities in key Indian cities to create value for our Unitholders.”
