MUMBAI: Canada's La Caisse (formerly CDPQ) has made a significant investment in Brookfield-backed Altius Telecom Infrastructure Trust, purchasing a 24% stake worth approximately Rs 12,100 crore ($1.3 billion). This deal not only strengthens La Caisse's presence in the Indian market but also solidifies its position as a long-term institutional partner for the company.

Brookfield and its entities will retain their largest shareholder status with a 37% stake, while affiliates of GIC and British Columbia Investment Management Corporation (BCI) are among the other shareholders of Altius, which operates over 2,58,000 telecom towers and sites across India.

Emmanuel Jaclot, executive vice-president and head of infrastructure and sustainability at La Caisse, expressed his confidence in the growing demand for mobile data and 5G services in India. "As India's economy grows and more people and businesses rely on higher use of mobile data, the infrastructure behind those connections needs to keep pace," Jaclot said.

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Altius plays a crucial role in enabling mobile operators to deliver these services, providing the necessary infrastructure that has become increasingly essential for the country's telecommunications market. With over 2.5 billion mobile subscribers, India is currently the world's second-largest telecommunications market, and its continued growth in mobile data use and 5G adoption is driving the need for digital infrastructure.

Investment this ipo marks important

The investment This IPO marks an important milestone for the company as it transitions from a privately listed infrastructure investment trust (InvIT) to a publicly listed InvIT. The filing of draft IPO papers with markets regulator Sebi last month further solidifies the company's plans for this significant event.

Initially operating under the name Data Infrastructure Trust (DIT), Altius was rebranded in 2024 following the acquisition of American Tower's (ATC) operations in India.

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Sam Pollock, CEO at Brookfield's Infrastructure group, welcomed La Caisse's investment, stating that it brings another long-term institutional partner to the platform. "La Caisse's investment reflects confidence in the strength of the business," Pollock said.

"Alongside our partners, we will continue to support Altius' next phase of growth." The acquisition also underscores the growing importance of telecom tower companies in India, driven As these trends continue, investors like La Caisse are poised to benefit from their investments in the sector.

Altius has built a scaled, nationwide platform that is well-positioned to meet India's demand for mobile connectivity and 5G infrastructure. With its extensive network of telecom towers and sites, Altius provides critical infrastructure for mobile operators to deliver high-quality services to their customers. The investment