Sify Infinit Spaces Ltd., a subsidiary of Sify Group, has formally submitted its Draft Red Herring Prospectus (DRHP) to SEBI to raise ₹3,700 crore via an initial public offering (IPO). Marking a significant milestone, this is the first IPO from a dedicated data centre company in India, amid increasing demand for digital and cloud infrastructure.
The IPO includes a fresh issue of equity shares worth ₹2,500 crore. Sify Infinit Spaces may also consider a pre-IPO placement of up to ₹500 crore, which, if undertaken, will reduce the fresh issue size accordingly.
Besides the fresh issue, the IPO includes an Offer for Sale (OFS) of ₹1,200 crore by two existing investors, namely Kotak Data Centre Fund (₹643 crore) and Kotak Special Situations Fund (₹557 crore). Funds raised through OFS will not go to the company.
Sify plans to invest ₹1,325 crore into new data centre construction projects. An additional ₹465 crore will be utilised to complete Tower B at the Chennai 02 data centre. Furthermore, ₹860 crore will fund the development of Towers 11 and 12 at the Rabale Data Centre in Navi Mumbai. Another ₹600 crore is allocated for repaying or prepaying loans, and the remaining capital will be used for general corporate purposes.
As of June 30, 2025, Sify Infinit Spaces operates 14 colocation data centres across six metros, Mumbai, Chennai, Noida, Hyderabad, Bengaluru and Kolkata, with a total built IT capacity of 188.04 MW. The company held a 15.26% market share by building IT capacity as of March 31, 2025. Sify’s first data centre became operational in 2000, cementing its early-mover advantage in the industry.
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Between fiscal 2023 to fiscal 2025, Sify Infinit Spaces recorded consistent revenue growth from ₹1,021.3 crore to ₹1,428.3 crore. EBITDA rose from ₹412.6 crore to ₹634.24 crore, with the EBITDA margin improving to 44.40% from 40.40%. Profit after tax increased from ₹96.68 crore to ₹126.3 crore over the same period, reflecting healthy financial performance and market traction.
Sify Infinit Spaces' ₹3,700 crore IPO signals a growth-focused capital strategy, aiming to scale India's data centre infrastructure. With increasing demand for digital services and AI-driven computing, the company is leveraging its strong market presence and financial base to support long-term expansion plans.
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Published on: Oct 18, 2025, 11:29 AM IST
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