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Brookfield, Singapore’s sovereign wealth fund GIC and Canadian institutional investor British Columbia Investment Management Corporation (BCI) have collectively divested a 7.27% unitholding in Altius Telecom Infrastructure Trust (Altius InvIT) through open market transactions worth approximately INR 3,656 crore. The sale involved more than 22.15 crore units and was executed on Tuesday at prices ranging between INR 165 and INR 165.05 per unit. Infrastructure major Larsen & Toubro emerged as a key buyer, acquiring a 1.25% stake for nearly INR 628 crore. The transaction marks a significant secondary market trade in India’s telecom infrastructure investment trust sector. Altius InvIT owns a portfolio of more than 2.57 lakh telecom sites supporting technologies from 2G and 5G to Internet of Things, small cells and emerging AI-driven applications.
Brookfield, Singapore’s sovereign wealth fund GIC and Canadian investor British Columbia Investment Management Corporation (BCI) have collectively sold a 7.27% stake in Altius Telecom Infrastructure Trust (Altius InvIT) through open market transactions valued at approximately INR 3,656 crore.
According to bulk deal data available on the BSE, the transactions were carried out on Tuesday and involved the sale of more than 22.15 crore units of the Mumbai-based infrastructure investment trust. The units were sold at prices ranging from INR 165 to INR 165.05 apiece.
Brookfield executed the largest portion of the sale through its affiliate BIF IV Jarvis India Pte Ltd, which offloaded 13.75 crore units in four separate tranches. GIC, through its investment vehicle Anahera Investment Pte Ltd, sold nearly 5.53 crore units, while BCI divested approximately 2.86 crore units through Rossland IMC Limited Partnership.
The combined transactions amounted to a total value of INR 3,656 crore, making it one of the larger secondary market stake sales in the infrastructure investment trust segment in recent months.
Among the identified buyers, Larsen & Toubro acquired more than 3.8 crore units of Altius InvIT, representing a 1.25% unitholding in the trust. The engineering and infrastructure major purchased the units at an average price of INR 165 each, translating into an investment of approximately INR 627.82 crore.
The identities of the remaining buyers could not be immediately determined from exchange disclosures.
The transaction involved three major global institutional investors. BCI is among Canada’s largest institutional investment managers and reported gross assets under management of USD 295 billion as of March 31, 2025. GIC is one of the entities responsible for managing Singapore’s national reserves alongside the Monetary Authority of Singapore and Temasek. Brookfield Asset Management, headquartered in New York, manages assets exceeding USD 1 trillion globally across infrastructure, real estate, renewable power, private equity and credit investments.
Altius InvIT is one of India’s major telecom infrastructure platforms and owns a portfolio of more than 2.57 lakh telecom sites across the country. The platform supports a wide range of telecommunications technologies, including 2G, 3G, 4G and 5G networks, while also providing infrastructure for emerging technologies such as Internet of Things applications, small-cell deployments and artificial intelligence-enabled digital services.
Following the completion of the transactions, Altius InvIT units traded higher on Wednesday. The units rose 0.53% to INR 168 apiece on the BSE, indicating continued investor interest in telecom infrastructure assets despite the sizeable stake sale by existing institutional investors.
Source - PTI
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