Funds to power expansion, debt repayment, and AI-ready infrastructure
MUMBAI, Oct 18 (The CONNECT): Sify Infinit Spaces Limited, a leading provider of data center colocation services, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) of ₹3,700 crore, becoming India’s first data center company to go public.
The IPO comprises a fresh issue of equity shares worth ₹2,500 crore and an offer for sale (OFS) of ₹1,200 crore by existing shareholders — Kotak Data Center Fund (₹643 crore) and Kotak Special Situations Fund (₹557 crore). The company may also undertake a pre-IPO placement of up to ₹500 crore, which would reduce the fresh issue size accordingly.
Proceeds from the fresh issue will primarily go toward capacity expansion, including ₹465 crore for completing Tower B at its Chennai 02 Data Center, and ₹860 crore for constructing Towers 11 and 12 at its Rabale facility in Navi Mumbai. Another ₹600 crore will be used for repaying or prepaying borrowings, with the remaining funds allocated for general corporate purposes.
Part of the Sify Group, which pioneered India’s private internet services in the 1990s, Sify Infinit operates 14 colocation data centers across Mumbai, Chennai, Noida, Hyderabad, Bengaluru, and Kolkata, with a combined IT power capacity of 188.04 MW as of June 2025. Between FY23 and FY25, it expanded capacity by 95.41 MW, the highest among its peers.
The company serves over 500 clients, including three of the top four global hyperscalers and seven of India’s top ten banks, spanning sectors such as fintech, OTT, manufacturing, retail, and healthcare.
Sify Infinit is also gearing up for the AI revolution — its new-generation facilities in Chennai, Noida, and Navi Mumbai are certified by NVIDIA for AI workloads, equipped with advanced liquid and direct-to-chip cooling technologies, and hold IGBC Platinum and TIA-942 Rated 4 certifications.
Financially, the company has shown strong momentum, with revenues rising from ₹1,021 crore in FY23 to ₹1,428 crore in FY25. EBITDA margins improved to 44.4%, while PAT grew from ₹96.6 crore to ₹126.4 crore during the same period.
With India’s data center capacity projected to grow 30–35% annually till FY2030, Sify Infinit’s IPO marks a major milestone in the country’s digital infrastructure evolution.
JM Financial, CLSA, JP Morgan, Kotak Mahindra Capital, and Morgan Stanley are the book-running lead managers to the issue.
