Kotak Mahindra Group-Backed Sify Infinit Files IPO Draft Papers To Raise Rs 3,700 Crore

Kotak Group backed Sify Infinit Spaces Ltd. on Thursday filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include mix of fresh issues of shares worth Rs 2,500 crore and an offer-for-sale up to Rs 1,200 by selling shareholders.

This makes it the India's first data centre company to file for IPO.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 500 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.

Kotak Data Center and Kotak Special Situations Fund are the investors of the company offloading shares in the Rs 1,200 crore offer for sale.

JM Financial Ltd., CLSA India Pvt., J.P. Morgan India Pvt., Kotak Mahindra Capital Company Ltd., and Morgan Stanley India Company Pvt. are the book-running lead managers for the issue and KFin Technologies Ltd. will be the registrar of the issue.

Proceeds from the fresh issue worth Rs 465 partial funding of capital expenditure for the completion of Tower B at its Chennai 02 data center. In addition, Rs 860 crore will be used for the construction of Towers 11 and 12 at its Rabale Data Center in Navi Mumbai. The company also intends to use Rs 600 crore for epayment or prepayment of certain borrowings while the balance will be deployed towards general corporate purposes.

The Chennai-based company is one of the leading providers of data center colocation services in India, offering colocation, interconnection, build-to-suit, and value-added services across its nationwide network.

The company provides secure, sustainable, and energy-efficient digital infrastructure solutions tailored to client needs. As of March 31, 2025, it held a 15.26% market share by built IT capacity in India.

The Vegesna Ananta Koti Raju led company saw its first data center commenced operations in 2000, marking one of the earliest commercial data centers in India.

The revenue from operations in fiscal 2025 rose to Rs 1,428.37 crore in comparison to Rs 1,114.17 crore. The profit for the financial year 2025 also rose to Rs 126.36 crore from Rs 93.25 crore reported in financial year ended March 2024. In quarter ended June the company's revenue was at Rs 398.6 crore and its profit was at Rs 13.63 crore.