Sify Infinit Spaces to launch $500 mn IPO in 2 weeks amid data-centre boom

The IPO will fund expansion as India's data-centre demand soars; company runs 14 sites and seeks capital to tap growing AI, cloud, and digital infrastructure market

Sify Infinit Spaces Ltd, a unit of Sify Technologies Ltd, is preparing to file for a $500 million initial public offering (IPO) within the next two weeks, according to a Bloomberg report. If completed, it would be the first Indian data-centre operator to list on domestic stock exchanges.

 

The IPO is expected to include both new and existing shares, with discussions on the final structure still ongoing. A company spokesperson did not respond to requests for comment.

Rising demand for data centres

The fundraising comes as India’s demand for data centres is set to more than double over the next three years. According to rating agency Icra, meeting this expansion will require an estimated investment of around ₹90,000 crore ($10.1 billion). Growth is being driven by rising digital consumption, artificial intelligence adoption, and data localisation requirements.

 

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Sify Infinit’s board approved the potential IPO on September 25, 2025. The planned offering will be managed by a consortium of bookrunners, including Kotak Mahindra Capital Co, Morgan Stanley, JPMorgan Chase & Co, Citic Securities Co, and JM Financial Ltd. 

  The IPO reflects broader investor confidence in India’s data-centre sector, which is poised for robust expansion amid increasing digital adoption and cloud-based infrastructure demand. If successful, the listing will also provide Sify Infinit with additional capital to fund growth and expand its operations nationwide.

 

India’s data-centre market also features global firms such as NTT Inc of Japan, Temasek-backed STT Global Data Centres, and Carlyle Group-backed Nxtra Data Ltd.

 

The sector has attracted significant foreign investment due to strong growth prospects, according to Icra.

 

Founded in 2000 and backed by Kotak Private Equity Group, Sify Infinit operates 14 data-centre sites across India. The company provides services to both domestic and international clients and has been among the key local players in the rapidly expanding sector.

 

(Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd)