Data Infrastructure Trust

Data Infrastructure Trust (Formerly known as Tower Infrastructure Trust) was established by Reliance Industrial Investments and Holdings Limited on 31 January 2019, as a contributory irrevocable trust under the Indian Trusts Act, 1882. The Trust registered as an infrastructure investment trust (InvIT) under Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 ('SEBI InvIT Regulations') on 19 March 2019. Pursuant to the approval granted by Securities and Exchange Board of India w.e.f. October 8, 2021, the name of the Trust changed from Tower Infrastructure Trust' to Data Infrastructure Trust'. The investment objectives of the Trust are to carry on the activities of an infrastructure investment trust, as permissible under the SEBI InvIT Regulations and as stated in the private placement memorandum dated 31 August 2020 which includes the following: a. To raise funds in accordance with applicable law, for the purpose of attaining the investment objectives and purpose of the Trust, b. To make investments or re-investments in accordance with the Indenture of Trust dated 31 January 2019, the Investment Management Agreement dated 25 September 2020, the Project Implementation and Management Agreement dated 13 January 2020 and any other document with respect to the Trust or the units thereof (collectively referred to in the private placement memorandum as InvIT Documents) and applicable law and c. To make distributions to the unit holders in the manner set out in the Indenture of the Trust dated 31 January 2019. The Trust has only one asset, comprising SDIPL which is engaged in Tower Infrastructure Business. The Tower Infrastructure Business was transferred from Reliance Jio Infocomm Limited ('RJIL') to SDIPL by way of a slump sale on a going concern basis under the Scheme of Arrangement with effect from 31 March, 2019. On 31 March 2019, the Trust, acting through the Trustee, has acquired 51% of the issued and paid-up equity share capital of Summit Digitel Infrastructure Private Limited [formerly known as Reliance Jio Infratel Private Limited] ('SDIPL'), pursuant to the Share Purchase Agreement dated 31 March 2019. Further, the Trust has acquired remaining 49% of the equity share capital of SDIPL on 31 August 2020. SDIPL is engaged in the business of setting up and maintaining passive tower infrastructure and related assets, and providing passive tower infrastructure services ('Tower Infrastructure Business'). SDIPL is the Trust's first investment in complete and revenue generating infrastructure projects. As on 31 March 2021, the Trust owns 100% of the issued equity share capital of SDIPL. The Trust issued 2,52,15,00,000 units at an Issue Price of Rs. 100 each aggregating to Rs. 2,52,150 Million on August 31, 2020, which were listed on BSE Limited w.e.f. September 1, 2020. Infinite India Investment Management Limited was appointed as the Investment Manager of the Trust pursuant to the provision of the SEBI InvIT Regulations and the Investment Management Agreement dated January 31, 2019, executed between Infinite India and Axis Trustee Services Limited, in the capacity of Trustee to the Trust. As on March 31, 2022, the Trust holds two Special Purpose Vehicles i.e. SDIPL and STPL. The Trust issued 2,87,00,000 units on rights basis and 5,28,00,000 units on preferential basis on March 8, 2022, which also listed on BSE Limited w.e.f. March 17, 2022. As on March 31, 2023, the Trust holds two Special Purpose Vehicles i.e. SDIL and CDPL. The Trust acquired entire equity share capital of Crest Digitel Private Limited on March 10, 2022. The Company was a wholly-owned subsidiary of BHAL Global Corporate Limited (BHAL) - an affiliate of Brookfield Asset Management Inc. (BAM). During year 2023, the existing shareholders transferred their holdings as under: Brookfield Global Subinvestments Limited (nominee of BHAL) transferred 1 equity share of the Company to Brookfield India GP ULC, an entity incorporated in Canada, on November 30, 2022; and BHAL transferred 83,39,557 equity shares of the Company to Brookfield Manager Holdings Limited (BMHL), an entity incorporated in Hamilton, Bermuda, on December 1, 2022. Consequent to the above transfers, the Company ceased to be a subsidiary of BHAL and became the subsidiary of BMHL w.e.f. December 1, 2022 and is a subsidiary of BMHL. On September 8, 2023, the Trust acquired 100% equity shares of Roam Digitel Infrastructure Private Limited (RDIPL) for a total consideration of Rs. 0.1 million. Accordingly, RDIPL became Subsidiary (SPV) of the Trust. On September 21, 2023, CDPL acquired 100% equity shares of Crest Virtual Network Private Limited (formerly known as Kinetic Road Assets Private Limited) (CVNPL) for a total consideration of Rs. 0.7 million. Accordingly, CVNPL became a SPV of the Trust and CDPL became a Holding Company of the Trust. W.e.f. December 12, 2023, BIP India Infra Projects Management Services Private Limited (BIP India / Investment Manager) has been appointed as the Investment Manager of the Trust basis the approval from SEBI vide letter dated December 11, 2023. Brookfield India Infrastructure Manager Private Limited (BIIMPL / erstwhile Investment Manager) is the erstwhile Investment Manager of the Trust. As on December 31, 2023, the Trust has two directly held Special Purpose Vehicles (SPV) i.e. SDIL and RDIPL. The Trust has one Holding Company i.e. CDPL with one SPV i.e. CVNPL.