Sify Infinit Spaces, a data-center operator in India, is planning to file for a US$500 million IPO in the next two weeks, according to sources familiar with the matter.

The company is a unit of Sify Technologies and is backed by Kotak Private Equity Group.

The IPO is expected to include both new and existing shares, but details may still change as discussions are ongoing.

If completed, Sify Infinit could become the first Indian data-center operator to go public.

India’s data-center market is seeing increased investment due to rising demand for digital services, AI, and data localization, with ICRA estimating the sector will need about US$10 billion in investment over the next three years.

Sify Infinit operates 14 sites across India and competes with global firms like NTT, STT Global Data Centres, and Nxtra Data.

Bookrunners for the IPO include Kotak Mahindra Capital, Morgan Stanley, JP Morgan, Citic Securities, and JM Financial.

🔗 Source: Bloomberg