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Transaction Closure : Sale of XCEL Telecom by Horse-Shoe Capital (an affiliate of Q Investments) to American Tower Mauritius

Edelweiss Capital Limited advised Horse-Shoe Capital (an affiliate of Q Investments) on the sale of its 100% equity interest in XCEL Telecom Pvt. Ltd. (“XCEL”) to American Tower Mauritius (a subsidiary of American Tower Corporation “ATC”). This marks the first complete exit by a financial investor through the M&A route in the telecom towers space in India.

XCEL was founded in 2006 by Horse-Shoe Capital to provide total infrastructure solutions to the growing telecom market in India. In the short period of time since start-up, XCEL owns and operates approx. 1,700 towers, including under construction sites across India.

About XCEL Telecom Pvt. Ltd.:
XCEL Telecom is a leading independent provider of shared telecom infrastructure solutions and services to the telecom cellular operators with a presence across India.

About American Tower Corporation:

American Tower is a leading independent owner, operator and developer of broadcast and wireless communications sites. Headquartered in Boston, Massachusetts, ATC owns and operates communications sites in the United States, Mexico, Brazil and India.