Sify Infinit Gets Approval for India’s First Data Center IPO; Sebi is also resolving twelve other public issues

India’s IPO pipeline gained new momentum after capital markets regulator Sebi approved 12 offers, including the proposed issue of Sify Infinit Spaces that will be the country’s first pure-play data center IPO.The most closely watched approval, however, is for Sify Infinit Spaces. The company plans to raise up to Rs 3,700 crore through a combination of a fresh issue worth Rs 2,500 crore and an offer for sale of Rs 1,200 crore by existing shareholders.

Sify Infinit is one of the leading providers of data center colocation services in India in terms of built-in IT capacity. The company plans to use the fresh capital to fund major expansion projects, including the completion of a data center tower in Chennai and the construction of two new towers at the Navi Mumbai facility, which together account for over Rs 1,300 crore in capital expenditure.Another Rs 600 crore will be used to reduce debt, with the balance earmarked for general corporate purposes. The issuance is expected to be led by a consortium of global and domestic investment banks, reflecting growing investor interest in the Indian digital infrastructure theme.

Among other key approvals, Telangana-based Sai Parenteral has received final approval to launch its IPO. The issue includes a fresh issue of shares worth up to Rs 285 crore and an offer for sale of up to 35 lakh shares by existing investors and individual shareholders.

Proceeds from the new issue will be used to expand and upgrade production facilities, set up a new research and development center, repay part of the loans, meet working capital needs and finance an overseas acquisition through the Singapore subsidiary.

Sai Parenteral is active in branded generic formulations and contract manufacturing, with a strong presence in injectables, tablets, capsules and liquid orals, supplying both domestic institutions and overseas markets such as Australia, Southeast Asia, the Middle East and Africa. On the technology and engineering front, Commtel Networks has received approval for an initial public offering aimed at raising Rs 900 crore. The issue includes a fresh issue of Rs 150 crore and an offer for sale of Rs 750 crore by existing shareholders.

The company is active in network infrastructure, communications and digital solutions and focuses on companies and government customers. The fresh capital is expected to support growth initiatives and strengthen the balance sheet, while the sale offer will provide partial exits for promoters and early investors.

Hospitality chain Pride Hotels is another name approved by Sebi. The company plans to raise up to Rs 260 crore through a fresh issue, along with an offer for sale of up to 3.92 crore shares. Pride Hotels operates in the mid-range, economic and luxury segments, with 34 hotels and resorts and more than 2,700 rooms in key Indian cities.

Facility Management giant BVG India has also received approval for its IPO. The issue includes a fresh issue of up to Rs 300 crore and an offer for sale of up to 2.85 crore equity shares by existing shareholders.

Funds from the new issue will be used primarily to repay loans and for general corporate purposes, providing financial flexibility as the company expands into outsourced services.

Oswal Cables has received approval from Sebi for an initial public offering, comprising a fresh issue of Rs 300 crore and an offer for sale of up to 2.22 crore shares. The company is active in the power and electricity cables segment and supplies infrastructure, industrial and real estate projects. The issue is expected to help finance capacity expansion and reduce debt burden.

Purple Style Labs has also been approved for an all-news IPO of Rs 660 crore. The company plans to use the funds to scale up operations and strengthen its presence in premium apparel and accessories.

Healthcare player Medicap Healthcare has received approval for an IPO of Rs 240 crore, which is a completely new issue. Some of the money can be raised through a pre-IPO placement, with the balance going towards capacity expansion and working capital needs.

In the metal recycling space, CMR Green Technologies has been approved for a public issue fully structured as an offer for sale of shares of up to Rs 4.29 crore. The company is active in aluminum recycling and secondary metal production, targeting customers in the automotive and industrial sectors.

Electronics maker UKB Electronics has also received regulatory approval for an initial public offering of Rs 800 crore, split equally between a new issue and an offer for sale. Proceeds from the new issue are expected to fund growth initiatives and capital expenditure, while the sale offer will provide liquidity to the promoters.

Transline Technologies, which is in the logistics and transportation services business, has received approval for an initial public offering consisting entirely of an offer for sale of up to 1.62 crore equity shares. The issue allows existing shareholders to liquidate part of their holdings, without any new capital being raised by the company.

Jagdamba Polymers has received approval for a book-built issue, combining a fresh issue of around 33.9 lakh shares with an offer for sale of 1.7 lakh shares. The company plans to use the proceeds primarily for working capital, capital expenditures and loan repayments.

Hella Infra Market has also received regulatory approval for its IPO.