Sify Infinit Spaces files DRHP for ₹3,700 crore IPO, first public offering for data center company - Details here

Upcoming IPO: Sify Infinit Spaces has filed its draft documents with the stock market regulator, the Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO), the company informed on Friday, October 17, 2025. The company, part of the Sify group, aims to raise ₹3700 from the initial combination of a new share of a new share. equity shares and sold by existing institutional investors. Sify Infinit Spaces IPO Details The IPO involves a fresh issue of equity shares of up to ₹2,500 crore. These funds will go directly to the company. Additionally, the offer includes an Offer for Sale (Offer for Sale) of equity shares aggregating up to ₹1,200 crore by the selling stakeholders – the Kotak Data Center Fund (₹643 crore) and the Kotak Special Situations Fund (₹557 crore). The funds from OFS will accrue to these existing investors. Further, Sify Infinit Spaces may consider undertaking a pre-IPO placement of specified securities for up to ₹500 crore in consultation with the Book Running Lead Managers (BRLMs). If the placement is executed, the amount raised will be directly reduced from the new issue size of ₹2,500 crore. In a pre-IPO placement, the company may decide to sell some shares to a select group of institutional investors, such as mutual funds and insurance companies, before the IPO opens to the public. How will the company use the proceeds? The company plans to use the net proceeds from the new issue for growth and operational initiatives. The bulk of the funds, ₹1,325 crore, has been earmarked for data center construction projects. Another ₹465 crore goes towards the completion of Tower B at the existing Chennai 02 data centre, and ₹860 crore is allocated for the construction of Towers 11 and 12 at the Rabale data center in Navi Mumbai. Apart from expansion, a major portion, ₹600 crore, will be used for repayment or prepayment of certain loans, while the remaining funds will be used for general corporate purposes, the company said in the filing. About Sify Infinit Spaces Sify Infinit Spaces is a leading data center infrastructure company in India, offering colocation, interconnect, build-to-fit and value-add services across its nationwide network. As of March 31, 2025, it had a market share of 15.26% by built IT capacity in India. Its first data center began operating in 2000. As of June 30, 2025, the company operated 14 co-location data center facilities in six major cities and demand hubs such as Mumbai, Chennai, Noida, Hyderabad, Bengaluru and Kolkata with a combined built IT power capacity of 188.04 per press release, along with a megawatt per press release. The company has strong financials as its revenue increased from ₹1021.3 crore in fiscal 2023 to ₹1428.3 crore in fiscal 2025. EBITDA rose from ₹412.6 crore to ₹634.24 crore in the same period, while margins improved to 40.40%. Profit after tax (PAT) also saw a jump from ₹96.68 crore in fiscal 2023 to ₹126.3 crore in the last financial year. Sify would join a growing list of companies tapping the IPO market amid a surge in demand for data centers, driven by the expansion of artificial intelligence (AI). Disclaimer: This story is for educational purposes only. The opinions and recommendations expressed are those of individual analysts or brokerage firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.