Canada fund buys 24% in tower firm for $1.3bn

La Caisse, a Canadian pension fund, has acquired a 24% stake in Altius Infrastructure for $1.3 billion ahead of the tower company's planned IPO. Altius provides infrastructure enabling mobile operators to deliver 4G and 5G services across India. The IPO could raise approximately Rs 6,000 crore, transitioning Altius from a privately listed to publicly listed infrastructure investment trust.

Altius has built a scaled, nationwide platform that is in a leading position to meet India's demand for mobile connectivity and 5G infrastructure.