The IPO includes a fresh issue of shares worth Rs 2,500 crore and an offer for sale of shares worth Rs 1,200 crore by existing investors – Kotak Data Center Fund (Rs 643 crore) and Kotak Special Situations Fund (Rs 557 crore).
The company could also consider a pre-IPO placement of up to Rs 500 crore, which would reduce the size of the fresh issue if implemented.
The proceeds from the IPO will be used to fund the expansion of the high-capacity data centers, specifically the completion of Tower B at the Chennai 02 facility and the construction of Towers 11 and 12 at the Rabale data center in Navi Mumbai, which will require Rs 465 crore and Rs 860 crore respectively.
Another Rs 600 crore will go towards loan repayment while the rest will be used for general corporate purposes.
About Sify Infinite Spaces
Founded by Sify Technologies, which pioneered private internet services in India in the late 1990s, Sify Infinit Spaces (SISL) is today among the country’s top data center operators, with a 15.26% market share in built-in IT capacity as of March 2025, according to 1Lattice and Cushman and Wakefield.
Led by Vegesna Ananta Koti Raju, the company provides colocation, interconnection and build-to-suit services, combining three decades of Sify’s experience in digital networking, cloud and managed services.
As of June 2025, Sify Infinit operated 14 colocation data centers in six major Indian cities – Mumbai, Chennai, Noida, Hyderabad, Bengaluru and Kolkata – with a combined IT power capacity of 188.04 MW. The company expanded its built capacity by 95.41 MW between FY23 and FY25, the highest among peers.
Its customer base of over 500 customers includes three of the world’s four largest hyperscalers and seven of the ten largest Indian banks, serving sectors such as financial, OTT, manufacturing and healthcare. The company is also preparing for the next wave of AI-driven workloads, with new facilities in Rabale, Chennai and Noida receiving Nvidia certification for AI-ready infrastructure, along with Indian Green Building Council Platinum and TIA-942 Rated 4 certifications for sustainability and uptime.
Financially, Sify Infinit has shown strong growth. Operating revenue rose to Rs 1,428.36 crore in FY25 from Rs 1,021.34 crore in FY23, while EBITDA rose to Rs 634.24 crore and margins improved from 40.4% to 44.4%. Net profit grew from Rs 96.6 crore to Rs 126.3 crore during the same period, underscoring steady profitability.
The IPO is managed by JM Financial, CLSA India, JP Morgan India, Kotak Mahindra Capital and Morgan Stanley India as book running lead managers.
The list comes at a time when demand for data centers in India is soaring – expected to grow 30-35% annually through fiscal 2030, according to Icra – driven by cloud adoption, AI workloads, 5G rollout and data localization laws.
The sector expected investments of over Rs 90,000 crore ($10 billion) over the next three years.
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