Yotta Data Services, an Indian data center operator backed by the Hiranandani Group, plans to launch an initial public offering in the January to March quarter of 2027 and file draft papers in October.

The company aims to raise up to US$1.5 billion to repay debt, buy graphics processing units, and expand sovereign cloud infrastructure. The expansion comes as demand for AI computing grows.

CEO Sunil Gupta said Yotta is also raising pre-IPO capital. That could make the IPO smaller than first planned because the company has already met much of its fundraising target.

In a LinkedIn post last month, Gupta said Yotta had raised US$150 million in primary growth capital at a valuation of about 370 billion rupees, or roughly US$3.9 billion.

Gupta also said interest from overseas customers rose after India announced in February a 20-year tax holiday for foreign firms using local data centers. Globally, some data center operators are also exploring IPOs at large valuations.

🔗 Source: Reuters