Sify Infinit Spaces Ltd (SISL), a subsidiary of Sify Technologies, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a ₹3,700 crore initial public offering (IPO), marking India’s first-ever public listing by a data center company.
The IPO comprises a fresh issue of equity shares worth ₹2,500 crore and an offer for sale (OFS) of ₹1,200 crore by existing investors, including Kotak Data Center Fund (₹643 crore) and Kotak Special Situations Fund (₹557 crore). The company may also consider a pre-IPO placement of up to ₹500 crore, which could reduce the size of the fresh issue if executed.
Proceeds from the IPO will be used to fund capital expenditure for expanding SISL’s data center infrastructure. This includes the completion of Tower B at its Chennai 02 facility and the construction of Towers 11 and 12 at its Rabale data center in Navi Mumbai, with estimated costs of ₹465 crore and ₹860 crore respectively. Additionally, ₹600 crore will be allocated toward repayment or prepayment of borrowings.
Sify Infinit Spaces is a leading provider of data center colocation services in India, offering interconnection, build-to-suit, and value-added services across a nationwide network. The company leverages over three decades of expertise from the Sify Group, which pioneered private internet services in India during the late 1990s.
This landmark IPO not only reflects the growing demand for digital infrastructure and AI-ready data centers but also signals a new era for India’s tech-driven capital markets.
