CloudExtel has raised ₹200 crore in debt from leading private sector banks to expand its metro fibre network and build infrastructure to support rising AI-led data demand. The deal is one of the first instances of project financing for a fibre network by lenders.
The company, in a press release, said its existing shareholders have also put in additional equity on a proportionate basis. CloudExtel said the funds will be used to speed up network rollout and strengthen its presence in major metros.
Kunal Bajaj, CEO and Co-Founder of CloudExtel, said,…

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