Brookfield-backed Altius Telecom Infrastructure Trust, India's second-largest telecom tower operator, has filed draft offer documents with the markets regulator to raise funds through an initial public offering (IPO) and transition from a privately listed infrastructure investment trust (InvIT) to a publicly listed InvIT. According to the draft papers filed on August 6, the telecom tower InvIT plans to raise ₹500 crore through a fresh issue of units, alongside an offer-for-sale (OFS) of up to 30.47 crore units by existing unitholders. This marks a significant milestone as it represents the first successful conversion of a privately listed InvIT into a publicly listed InvIT in India, setting a precedent for future infrastructure investment trust transactions.
Under the OFS, Brookfield Corporation-managed BIF IV Jarvis India will sell up to 18.86 crore units, making it the largest seller in the offer. GIC affiliate Anahera Investment will offload up to 7.65 crore units, while Rossland IMC Limited Partnership will sell up to 3.96 crore units. 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, as reported by multiple sources. The InvIT plans to use the net proceeds from the fresh issue to invest in its portfolio assets and fund capital expenditure requirements, with remaining proceeds allocated for general purposes.
Altius Telecom Infrastructure Trust delivered exceptional financial results for the quarter ended June 2026, with consolidated net profit surging 65.55% to ₹375.30 crore compared to ₹226.70 crore in the corresponding quarter of the previous year. However, sales remained relatively flat, declining marginally by 0.08% to ₹6,025.10 crore from ₹6,030.00 crore in Q1 FY26. The company's operating profit margin improved significantly to 42.41% from 40.74% in the previous year, while PBDT increased 8% to ₹1,552 crore from ₹1,441.80 crore. 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 have been appointed as merchant bankers for the IPO.
Altius Telecom Infrastructure Trust owns 2.58 lakh telecom sites, including macro towers, rooftop structures, in-building solutions and outdoor small cells. The InvIT has 3.15 lakh tenancies across all 22 telecom circles, giving it an approximately 39 percent market share by sites and 34 percent by tenancies. Its privately traded units have gained 1.18 percent so far in the current quarter to ₹171.50 on the BSE, after rising 8.65 percent in the quarter ended June 2026 to ₹169.50. The company has a market capitalization of ₹51,619.91 crore and declared a final dividend of 0% per share for the 2025-26 financial year.
Brookfield Asset Management holds a 54.36 percent stake in Altius Telecom Infrastructure Trust through its affiliates BIF IV Jarvis India and Project Holdings Nine (DIFC). Anahera Investment holds 22.06 percent, or 67.22 crore units, while BCI IRR India Holdings Inc, backed by British Columbia Investment Management Corporation, owns 9.77 percent, or 29.78 crore units. Brookfield Asset Management manages more than $1 trillion in 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.
