Upcoming IPO: Sify Infinit Spaces has filed its draft papers with the stock market regulator, the Securities and Exchange Board of India (SEBI), to raise funds via an initial public offering (IPO), the company informed on Friday, 17 October 2025.
The company, part of the Sify Group, is aiming to raise ₹3700 crore from the initial share sale, via a combination of fresh issuance of equity shares and sale by existing institutional investors.
Sify Infinit Spaces IPO Details
The IPO comprises a fresh issue of equity shares of up to ₹2,500 crore. These funds will go directly to the company.
Additionally, the offering includes an Offer for Sale (OFS) 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.
Furthermore, 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 fresh 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, like mutual funds and insurance companies, before the IPO opens to the public.
How will the company utilise the proceeds?
The company plans to utilise the net proceeds from the fresh issue towards growth and operational initiatives. The bulk of the funds, ₹1,325 crore, is designated for data centre construction projects.
Another ₹465 crore will go 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 Centre in Navi Mumbai.
Beyond expansion, a major portion, ₹600 crore, will be used for the repayment or prepayment of certain borrowings, while the remaining funds will be deployed towards general corporate purposes, the company said in the filing.
About Sify Infinit Spaces
Sify Infinit Spaces is a leading data centre infrastructure company in India, offering colocation, interconnection, build-to-suit, and value-added services across its nationwide network. As of March 31, 2025, it held a 15.26% market share by built IT capacity in India.
Its first data centre commenced operations in 2000. As of June 30, 2025, the company operated 14 colocation data centre facilities across 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 megawatts (MW), as per a press release shared by the company.
The company has strong financials as its revenue has 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 from 40.40% to 44.40%.
Profit after tax (PAT) also saw a jump from ₹96.68 crore in fiscal 2023 to ₹126.3 crore in the last fiscal year.
Sify would be joining a growing list of companies tapping into the IPO market, amid a surge in demand for data centres, which is driven by the expansion of artificial intelligence (AI).
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