Ctrl S Datacenters gets Rs 250cr equity funding

Ctrl S Datacenters Limited, a Hyderabad-based carrier neutral data centre service provider, has received Rs 250 crore equity funding.

The funding, along with an additional debt of Rs 245 crore, will be used for expanding the company’s data centres across the country, P Sridhar Reddy, chairman and managing director of Ctrl, told Business Standard, adding that the company had entered into a non-disclosure agreement with its investors and hence cannot spell out their names.

“We are currently in touch with major financial institutions to raise this debt. We are expecting to close the same in the next two months,” he said. Reddy, in an interview with Business Standard in May this year, said the company had proposed to set up data centres in Mumbai, Pune, Bangalore, Delhi, Chennai and Kolkata at an investment of Rs 750 crore. “The proposed funding will be in a debt-equity ratio of 60:40,” he said.

Ctrl S – promoted by Hyderabad-based Rs 750-crore Pioneer Group and backed by New York-based Och-Ziff Capital, the fifth largest fund in the world with more than $31 billion unleveraged funds, and IDBI Bank as its investors – has set up the country’s first tier-4 data centre, the highest category of data centres in the world with 99.999 per cent availability, in Hyderabad in February this year. The company has so far invested Rs 25 crore in the facility.

According to conservative estimates, the data centre market in India is currently pegged at $983 million, which is expected to touch $1,467 million by 2010. Globally, the market is $50,052 million, which is predicted to reach $59,336 million by 2010.