Big news from India’s digital infrastructure space! Sify Infinit Spaces, the data centre arm of Sify Technologies, is set to launch an IPO of USD 500 million (~INR 4,387 crore). The Chennai-based company will file its DRHP with SEBI in the next few weeks.
Sources close to the development say the IPO will be a mix of fresh issue and offer for sale of existing shares and will be valued at USD 3 billion (~INR 26,319 crore). The offering will be managed by a team of top investment banks, including Kotak Mahindra Capital, Morgan Stanley, JPMorgan Chase, Citic Securities, and JM Financial.
Timely IPO Amidst AI and Cloud Boom
The IPO comes at a time when India is seeing an exponential growth in data centre demand driven by AI, cloud, and digital services across industries. As per a 2025 report, India’s data centre capacity is expected to grow by 77% to 1.8 gigawatts in the next 4 years.
Sify Infinit Spaces is well-positioned to benefit from this growth. As per its annual report, the company has 14 data centres across key Indian cities with a total power capacity of 188 megawatts. The company started its first facility in 2000, making it one of the first in the Indian data centre space.
Backing and Previous Funding
The unit is backed by Kotak Private Equity Group, which has been an active investor through its Special Situations Fund and Data Center Fund. The two funds invested USD 182 million (~INR 1,597 crore) in Sify Infinit Spaces through compulsory convertible debentures as per ICRA, a domestic credit rating agency.
This will be a big shift for the company as it will access public capital markets and fuel further growth to match India’s growing digital backbone.
Market Position and Broader IPO Trends
Sify Technologies, the parent company, is listed on NASDAQ, but the data centre arm’s IPO will be domestically listed in India, which shows growing confidence in Indian capital markets for infrastructure and technology plays.
The IPO will join a long list of listings this year. Since January 2025, Indian companies have raised over USD 8 billion (~INR 70,184 crore) through IPOs, and Jefferies Financial Group expects that to touch USD 18 billion (~INR 1.58 crore) in H2 of the year.
Under Works
DRHP is expected to be filed soon, but final terms are still under discussion, and details may change based on market and regulatory feedback. But this is a big moment for India’s data economy as infrastructure providers like Sify prepare for a digital-first, AI-driven world.
For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription, stay tuned to IPO Central.