Sify Infinit Spaces Files ₹3,700 Crore IPO; Proceeds to Fund Data Center Expansion and Debt Reduction

Chennai, October 17, 2025: Sify Infinit Spaces Limited has filed its Draft Red Herring Prospectus (DRHP) for an Initial Public Offering (IPO) of ₹3,700 crore that comprises a fresh issue of ₹2,500 crore and an offer for sale (OFS) of ₹1,200 crore by existing shareholders.

The issue comprises equity shares with a face value of ₹10 per share. Also, up to ₹500 crore of pre-issue placement will be done by the company, which will reduce the amount of fresh issue accordingly.

Founded in 2017 and headquartered in Chennai, Sify Infinit Spaces Limited operates mega data centers that deliver enterprise and cloud infrastructure solutions. It has been promoted by Sify Technologies Ltd, which has its equity shares listed on the NASDAQ Global Market.

Sify Infinit Spaces Key Offer Details

According to the Draft Red Herring Prospectus (DRHP), the initial public offering (IPO) will consist of a fresh issue of ₹2,500 crore alongside an offer-for-sale (OFS) of ₹1,200 crore, bringing the total issue size to ₹3,700 crore. Each equity share will carry a face value of ₹10.

The company’s promoters include Sify Technologies Ltd., Vegesna Ananta Koti Raju, Vegesna Bala Saraswathi, Ramanand Core Investment Co. Pvt. Ltd., and Raju Vegesna Infotech & Industries Pvt. Ltd. The OFS will feature shares from existing investors, including Kotak Data Center Fund and Kotak Special Situations Fund, which have contributed shares worth ₹643 crore and ₹557 crore, respectively.

The IPO will be managed by JM Financial, J.P. Morgan India, Kotak Mahindra Capital, and Morgan Stanley India, who will act as Book-Running Lead Managers (BRLMs). Details regarding the Registrar will be provided in the Final Red Herring Prospectus (FRHP).

Sify Infinit Spaces Objects of the Issue

As per the DRHP, proceeds from the fresh issue will largely be used to finance data center additions and pay down debt. Approximately ₹4,650 million will go towards the completion of Tower B of the Chennai 02 Data Center, and ₹8,600 million to the installation of Towers 11 and 12 at Rabale Data Center at Navi Mumbai. Also, the company intends to utilize ₹6,000 million towards the repayment or prepayment of certain borrowings, and the remaining amount will be used for general corporate purposes.

Sify Infinit Spaces Capital Structure

Sify Infinit Spaces has an authorised share capital of ₹1,000 crore, comprising 100 crore equity shares of ₹10 each. Prior to the IPO, the issued and paid-up capital stood at 51,01,31,127 equity shares, which increased to 60,39,50,295 equity shares following capital conversion. The company’s securities premium account currently holds ₹382.35 million. It is important to note that the post-offer paid-up capital will be adjusted based on the final share allotment and the issue price once the IPO concludes.

Strategic Outlook

Sify Infinit Spaces, a subsidiary of Sify Technologies Limited, offers data center infrastructure and digital hosting solutions in India. Issue proceeds will be used to strengthen its facilities at its Navi Mumbai and Chennai flagship data centers, helping it build much-needed market share in the expanding enterprise cloud and data services market.

REF: https://nsearchives.nseindia.com/corporate/Registration_17102025141743_DRHP_Fillingversion.pdf

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