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Sify Infinit Spaces Ltd., a subsidiary of Sify Technologies Ltd., is planning a USD 500 million IPO, potentially becoming India's first listed data centre operator. The offering will include fresh issuance and sale by existing shareholders, managed by top financial institutions. India's data centre market is expected to more than double in the next three years, requiring INR 90,000 crore (USD 10.1 billion) in investments, driven by growing digital usage, AI adoption, and data localisation rules. Sify Infinit operates 14 sites across six cities and is backed by Kotak Private Equity.
Sify Infinit Spaces Ltd., a subsidiary of Sify Technologies Ltd., is preparing to file for a USD 500 million initial public offering (IPO) in the coming weeks. If completed, this would mark the first time a data centre operator is listed on the Indian stock market. Advertisement
The share sale is expected to include both fresh issuance and an offer for sale by existing shareholders, though the final structure is still under discussion. The IPO will be managed by a consortium of financial institutions, including Kotak Mahindra Capital, Morgan Stanley, JPMorgan Chase, Citic Securities, and JM Financial.
The company's decision to go public comes amid rising demand for data centre services in India. Analysts predict that the country's data centre market will more than double over the next three years, requiring investments of around INR 90,000 crore (approximately USD 10.1 billion). This growth is fueled by increasing digital consumption, adoption of artificial intelligence, and data localisation regulations that encourage storing data within India. Both global and domestic operators are actively expanding, with players such as Japan's NTT Inc., Temasek-backed STT Global Data Centres, and Carlyle-backed Nxtra Data Ltd. already present in the market.
Sify Infinit, backed by Kotak Private Equity Group, established its first facility in 2000 and now operates 14 data centre sites across six cities in India. The company's board recently approved the potential IPO, highlighting confidence in the sector's growth potential. The upcoming listing positions Sify Infinit to attract further investment and strengthens its role as a key player in India's rapidly growing data infrastructure ecosystem.
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