Sify Infinit Spaces Ltd. is reportedly preparing to file for a $500 million initial public offering (IPO) within the next two weeks, potentially making it the first Indian data center operator to list on public exchanges. According to sources familiar with the discussions, the IPO will include both new and existing shares. Details of the offering are still subject to change as deliberations continue.
The impending IPO comes at a time when technology companies and investors are increasingly investing in data centers in India, driven by soaring digital consumption, artificial intelligence integration, and data localization policies. Sify aims to leverage this trend, joining a growing number of Indian firms seeking to raise capital through public offerings to support their expansion plans.
Sify did not respond to inquiries for comments on the matter.
According to a report from ICRA Ltd., India’s demand for data centers is expected to more than double in the next three years. An estimated investment of approximately 900 billion rupees ($10.1 billion) will be necessary to accommodate this growth. Sify Infinit is a prominent player in India’s data center sector, competing alongside such major global entities as NTT Inc., STT Global Data Centres, and Nxtra Data Ltd., which is backed by the Carlyle Group.
The report highlights that the strong demand for data centers has attracted significant investments from both foreign corporations and investment firms in India’s burgeoning data center market.
Sify Infinit operates 14 facilities across the nation, having launched its first site in 2000. The company’s board approved the planned IPO on September 25, with Kotak Mahindra Capital Co., Morgan Stanley, JPMorgan Chase & Co., Citic Securities Co., and JM Financial Ltd. serving as the bookrunners for the offering.
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Published on October 3, 2025.
