Sify Infinit Spaces Limited, one of India’s leading data centre colocation service providers by built IT capacity, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch the country’s first data centre IPO.
The proposed issue comprises a fresh issue of ₹2,500 crore and an offer for sale (OFS) of ₹1,200 crore, with existing investors Kotak Data Center Fund and Kotak Special Situations Fund offloading ₹643 crore and ₹557 crore, respectively. The company may also consider a ₹500 crore pre-IPO placement, which would reduce the size of the fresh issue if undertaken.
Proceeds from the fresh issue will fund the completion of Tower B at Chennai 02 and the construction of Towers 11 and 12 at Rabale, Navi Mumbai, costing ₹465 crore and ₹860 crore, respectively. Around ₹600 crore will be used for debt repayment, while the balance will go toward general corporate purposes.
A part of the Sify Group, which pioneered India’s private internet services in the late 1990s, Sify Infinit provides colocation, interconnection, and build-to-suit infrastructure solutions across the country. Led by Vegesna Ananta Koti Raju, the company commands a 15.26% market share by built IT capacity and operates 14 data centres across Mumbai, Chennai, Noida, Hyderabad, Bengaluru, and Kolkata, with a total IT power capacity of 188.04 MW as of June 30, 2025.
The company serves over 500 clients, including three of the top four global hyperscalers and seven of India’s top ten banks, catering to sectors such as financial services, social media, OTT, manufacturing, and healthcare. Between FY23 and FY25, Sify Infinit expanded its built capacity by 95.41 MW, the highest among peers.
Its new facilities—Rabale Tower 5, Chennai 02 Tower B, and Noida 02 Tower B—are AI-ready, featuring NVIDIA-certified advanced cooling systems, IGBC Platinum ratings, and TIA-942 Rated 4 certifications.
Financially, the company reported strong growth with revenue rising from ₹1,021.34 crore in FY23 to ₹1,428.36 crore in FY25, EBITDA increasing from ₹412.6 crore to ₹634.24 crore, and PAT climbing from ₹96.68 crore to ₹126.36 crore.
India’s data centre demand is expected to grow at a CAGR of 30–35% between FY25 and FY30, driven by digital transformation, cloud adoption, and AI workloads.
JM Financial, CLSA India, J.P. Morgan, Kotak Mahindra Capital, and Morgan Stanley are the Book Running Lead Managers for the issue.
