Newsletter
Sify Infinit Spaces is preparing to file for a $500 million IPO in the next two weeks.
Note: if the process goes through, this could be the first Indian data-centre operator to list on the stock exchanges.
Sify Infinit Spaces runs big data centres that store and manage digital data for companies, apps, and cloud services in India.
The deets: the IPO will include both new and existing shares. Deliberations on the share sale are ongoing and the details could still change.
The fundraising comes amid a surge in data centre investments, fueled by digital growth, AI, and localisation norms.
Why it matters: India’s demand for data centers is set to more than double over the next three years and an investment of about $10.1 billion will be needed to meet the expansion.
Sify Infinit is among the key local companies operating in India’s data-center space, which also has presence of global players such as NTT Inc. of Japan, Temasek-backed STT Global Data Centres and Carlyle Group-backed Nxtra Data.
Considering the strong demand prospect for data centres in India, many foreign corporations and investment firms are investing heavily into the Indian data centre business.
