Synopsis
India's competition regulator CCI has approved a deal. Blackstone-backed funds and other investors will acquire a stake in Neysa Networks. This AI acceleration cloud provider recently raised $1.2 billion. Neysa is set to scale up its operations. The company plans to deploy over 20,000 GPUs in India. This move supports the nation's AI ambitions.The development came after Neysa, in February this year, announced that private equity funds affiliated with Blackstone and co-investors have entered into definitive agreements to invest in the company, enabling a $1.2 billion capital raise.
The Competition Commission of India (CCI) said it has cleared the proposed deal.
"CCI approves the acquisition of certain shareholding in Neysa Networks Private Limited by BCP Asia II Topco V Pte. Ltd, Asia II Topco XIV Pte. Ltd, and other investors," the competition watchdog said in a post on X.
Other equity investors in the transaction include Teachers' Venture Growth, TVS Capital, 360 ONE Assets, and Nexus Ventures.
Blackstone is the world's largest alternative asset manager with USD 1.3 trillion in assets under management, including global investment strategies focused on real estate, private equity, credit, infrastructure, and hedge funds, etc.
Mumbai-based Neysa enables enterprises, startups, and public sector organisations to discover, deploy, and scale AI workloads securely and cost-effectively.
In February this year, Blackstone and co-investors provided equity capital of up to USD 600 million, based on which Neysa intends to secure an additional $600 million of debt financing, subject to documentation.
Following the funding, Neysa became a unicorn, crossing a $1 billion valuation.
This funding provides a material impetus to Neysa's planned scale-up and deployment of over 20,000 GPUs in India, helping to enable the country's AI revolution, the company said.
In a separate release, CCI granted its nod to Cube Highways Trust for the proposed acquisition of Baharampore - Farakka Highways Ltd, Devanahalli Tollway Pvt Ltd, Western MP Infrastructure and Toll Roads Pvt Ltd and Chenani Nashri Tunnelway Ltd.
Cube Trust is a Sebi-registered infrastructure investment trust, while Baharampore - Farakka Highways Ltd, Devanahalli Tollway Pvt Ltd, Western MP Infrastructure and Toll Roads Pvt Ltd and Chenani Nashri Tunnelway Ltd are engaged in the business of operating (through governmental concessions) roads and highways in India.
Deals beyond a certain threshold require approval from the regulator, which monitors unfair business practices and promotes fair competition in the marketplace.
