Sify Infinit plans $500 million IPO, India’s first data-centre listing

Company Overview - Sify Infinit Spaces Ltd. is preparing to file for a $500 million initial public offering (IPO), potentially becoming the first Indian data-center operator to list on stock exchanges [1] - The IPO will consist of both new and existing shares, with ongoing discussions that may alter the details [1] Industry Demand - The demand for data centers in India is expected to more than double in the next three years, requiring an investment of approximately 900 billion rupees ($10.1 billion) to support this expansion [3] - The surge in demand is driven by increasing digital consumption, the adoption of artificial intelligence, and data localization initiatives [2][4] Investment Landscape - Many foreign corporations and investment firms are heavily investing in the Indian data center sector due to strong demand prospects [4] - Sify Infinit operates 14 sites across India and is backed by Kotak Private Equity Group [5] IPO Details - The company's board approved the potential IPO on September 25, with bookrunners including Kotak Mahindra Capital Co., Morgan Stanley, JPMorgan Chase & Co., Citic Securities Co., and JM Financial Ltd. [5]