Sify Infinit, which operates 14 facilities nationwide, is backed by Kotak Private Equity and competes with global majors such as NTT, STT Global and Nxtra Data.
Sify Infinit Spaces Ltd. is preparing to file for a $500 million initial public offering in the next two weeks, according to people familiar with the matter, in what could be the first Indian data-center operator to list on bourses.
The IPO of Sify Technologies Ltd.’s unit will include both new and existing shares, the people said, asking not to be identified as the discussions are private. Deliberations on the share sale are ongoing and the details could still change, they said.
Rising AI, digitalisation fuelling data centre demand
The fundraising comes as technology firms and investors ramp up bets on data centers in the country, driven by rising digital consumption, artificial intelligence adoption and data localization initiatives. With the planned IPO, Sify will join a growing list of Indian companies tapping the primary market to fund their growth.
A representative for Sify didn’t respond to an email seeking comments.
ICRA: India’s data centre capacity to double in 3 years
India’s demand for data centers is set to more than double over the next three years and an investment of about 900 billion rupees ($10.1 billion) will be needed to meet the expansion, according to rating company ICRA Ltd.
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 Ltd.
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, ICRA said in its report last month.
Sify Infinit runs 14 sites, backed by Kotak PE
Sify Infinit, backed by Kotak Private Equity Group, commissioned its first facility in 2000 and runs 14 sites across the country, according to its annual report.
The company’s board approved the potential IPO on Sept. 25. Bookrunners on the planned offering include Kotak Mahindra Capital Co., Morgan Stanley, JPMorgan Chase & Co., Citic Securities Co. and JM Financial Ltd.
More stories like this are available on bloomberg.com
Published on October 3, 2025
