Brookfield-backed Altius Telecom Infrastructure Trust has taken a step towards becoming a publicly listed InvIT, filing its draft IPO papers with the market regulator as it looks to raise around Rs 6,000 crore through a combination of fresh capital and an offer for sale.
The proposed issue comes at a time when Altius has established itself as one of India's biggest telecom infrastructure platforms, with 2.58 lakh sites and 3.15 lakh tenancies spread across all 22 telecom circles.
The draft papers were filed on August 6. The proposed issue includes a Rs 500 crore fresh issue of units, while existing investors will sell up to 30.47 crore units through the OFS.
Unlike the fresh issue, the money generated through the OFS will not go to Altius. It will be received by the existing unitholders selling their holdings.
Brookfield To Sell Nearly 19 Crore Units
Brookfield-controlled BIF IV Jarvis India is set to be the largest seller in the offer, proposing to offload up to 18.86 crore units.
GIC-backed Anahera Investment plans to sell as many as 7.65 crore units, while Rossland IMC Limited Partnership will offer up to 3.96 crore units.
The fresh capital raised by Altius will be directed towards its portfolio assets and capital expenditure needs. Any balance will be available for general corporate purposes.
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Altius Commands Nearly 40% Share By Sites
Altius' network covers a wide range of telecom infrastructure, including macro towers, rooftop sites, in-building solutions and outdoor small cells.
With 2.58 lakh sites, the InvIT holds an estimated 39% market share by sites. Its 3.15 lakh tenancies give it a 34% share by tenancies, according to the draft offer documents.
The company's privately traded units have also gained in recent months. The units were at Rs 171.50 on the BSE, up 1.18% in the current quarter after advancing 8.65% during the quarter ended June 2026.
Brookfield Remains Largest Unitholder
Brookfield Asset Management continues to be the dominant investor in Altius, holding 54.36% through BIF IV Jarvis India and Project Holdings Nine (DIFC).
Anahera Investment owns 22.06%, or 67.22 crore units. BCI IRR India Holdings Inc, backed by British Columbia Investment Management Corporation, holds another 9.77% stake, equivalent to 29.78 crore units.
Brookfield manages more than $1 trillion of assets across infrastructure, real estate, credit, private equity and energy.
Brookfield-controlled Data Link Investment Manager manages Altius, while Axis Trustee Services serves as trustee.
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Profit Climbs 32% In FY26
The proposed listing follows a strong financial performance in FY26.
Altius' profit increased 31.8% to Rs 1,106.6 crore, compared with Rs 839.9 crore in FY25. Revenue rose 24.2% to Rs 24,165 crore, from Rs 19,454 crore a year earlier.
The IPO's merchant banking team includes JM Financial, NovaaOne Capital, Ambit, Axis Capital, Citigroup Global Markets India, Investec Capital Services (India), Jefferies India, Kotak Mahindra Capital Company, SBI Capital Markets and 360 ONE WAM.
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