Anagram Partners, TLH Advocates advise CtrlS on CAD$1 billion partnership with CPP Investments for datacenter business

CtrlS Datacenters has signed definitive agreements for a strategic partnership with Canada Pension Plan Investment Board (CPP Investments).

CPP Investments will invest up to ₹7,000 crore (CAD$1 billion) to help fund CtrlS’ upcoming growth in India’s fast-growing digital infrastructure sector.

Anagram Partners advised CtrlS on this transaction.

The transaction was led by Shuva Mandal (Partner) and Ankit Mishra (Partner), with support from Jagdish Kaisare (Principal), Anoushka Shetty (Senior Associate) and Siddhant Sahu (Associate).

TLH, Advocates & Solicitors also advised CtrlS on this transaction. The Firm advised across the full spectrum of the transaction, including deal structuring, transaction documentation, and competition law advisory in connection with the investment and joint venture arrangements.

The transaction team was led by Shailendra Komatreddy (Founder and Managing Partner) and Prateek Batra (Partner) and comprised Associates Anirudh Krishna and Vanshika Gupta, with competition advisory provided by Mathew George (Of Counsel).

The transaction comprises two components: a C$588 million equity investment by CPP Investments for an 8.2% stake in CtrlS Datacenters Ltd., and a C$441 million joint venture between CPP Investments and CtrlS to develop and operate data centre campuses across India.

Founded in 2007, CtrlS operates 19 datacenters across nine key markets in India with over 370 MW of capacity and a 4.4 GW of projects at various stages of execution. It is developing the next generation of AI-ready and hyperscale infrastructure to support India's rapidly growing digital economy while continuing to lead the adoption of renewable energy and sustainable datacenter practices.

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