Sify Infinit Spaces, a subsidiary of Sify Technologies, is preparing to file for a USD 500 million initial public offering (IPO) within the next two weeks, according to people familiar with the matter, Bloomberg reported, in what could be the first IPO by an Indian data-centre operator.
The planned share sale will comprise both new and existing shares, though details remain under discussion and may change. The company’s board approved the potential IPO on 25 September. Bookrunners for the offering include Kotak Mahindra Capital, Morgan Stanley, JPMorgan Chase & Co., Citic Securities, and JM Financial.
The move comes as interest in India’s data-centre sector surges, driven by rising digital consumption, artificial intelligence adoption, and data localisation policies. According to rating agency Icra, demand for data centres in India is expected to more than double in the next three years, requiring an investment of about Rs 90,000 crore (USD 10.1 billion) to meet growth needs.
Sify Infinit operates 14 facilities across India, with its first commissioned in 2000, and is backed by Kotak Private Equity Group. The company is among the leading domestic players in a market that also features global giants such as Japan’s NTT Inc., Temasek-backed STT Global Data Centres, and Carlyle Group-backed Nxtra Data.
The proposed IPO will position Sify Infinit to capitalise on the rapidly expanding sector and strengthen its capacity to cater to growing enterprise demand for secure, large-scale digital infrastructure. |
