About Sify Infinit Spaces IPO
Sify Infinit Spaces Ltd. submitted its DRHP on October 16, 2025. The IPO is a 100% book-built public offering with a total offer size of up to ₹3,700 crores, comprising a fresh issue of up to ₹2,500 crores and an offer for sale of up to ₹1,200 crores by existing shareholders. Specific bidding dates and price bands will be announced later.
The IPO is managed by JM Financial Ltd., CLSA India Private Ltd., J.P. Morgan India Private Ltd., Kotak Mahindra Capital Company Ltd., and Morgan Stanley India Company Private Ltd. KFin Technologies Ltd. is the registrar for the issue.
Company Background
Sify Infinit Spaces Ltd. was established on November 20, 2017, in Manesar, with its corporate office in Chennai, Tamil Nadu. It is part of the Sify group since 1995, leveraging over 25 years of experience in data centers and technology services to provide digital transformation infrastructure solutions in India.
Operations and Product Range
The company provides hyperconnected, high-performance digital infrastructure and operates as a leading data center co-location service provider. Services include network connectivity, managed application services, and a single integrated ICT platform to meet all client needs.
Facilities and Capacity
Sify Infinit Spaces Ltd. operates 14 interconnected data centers across six major Indian cities as of June 30, 2025, with a total built IT power capacity of 188.04 MW. Data centers use advanced cooling systems, including liquid and immersion cooling, supporting high-intensity AI tasks. Several facilities are NVIDIA DGX-ready, highlighting readiness for future computing requirements.
Brands and Market Presence
The company is among the top three data center colocation service providers in India based on IT capacity. As an early mover in the commercial data center space, it has established a reputation for reliability and excellence.
Revenue Streams and Business Model
Sify operates a "captive-to-commercial" model, focusing on high-uptime data centers for hyperscale and enterprise clients. Revenue comes primarily from long-term rent for colocation space and infrastructure, managed IT services, and passing power costs to customers. As of FY 2025, it operates 111 MW of capacity.
Management and Shareholding
The board of eight directors includes Chintaluri Venkata Rajeswara Rao (full-time director) and Vegesna Ananta Koti Raju (executive director), supported by experienced executives such as CFO Ganesh Sankararaman. Promoters include Sify Technologies Ltd. and the Vegesna family, holding over 510 million equity shares. Key selling shareholders include Kotak Data Center Fund and Kotak Special Situations Fund.
Board and Key Management
The board is led by Vegesna Ananta Koti Raju, with Chintaluri Venkata Rajeswara Rao, four independent directors, and three non-executive directors. Key management includes CFO Ganesh Sankararaman with 24+ years of experience and advanced qualifications in science and accounting.
Sify Infinit Spaces IPO Details
| Detail | Description |
|---|---|
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹ 10 per Equity Share |
| Issue Price Band | [.] |
| Lot Size | [.] |
| Sale Type | Book Built Issue |
| Total Issue Size | Up to ₹ 3,700.00 Crore |
| Fresh Issue(Ex Market Maker) | Up to ₹ 2,500.00 Crore |
| Offer for Sale | Up to ₹ 1,200.00 Crore |
| Issue Type | 100 % Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 51,01,31,127 shares |
Sify Infinit Spaces IPO Financial Information
Latest Revenue
405.54
₹ Crore
Profit After Tax
13.63
₹ Crore
Net Worth
1,754.33
₹ Crore
Total Borrowing
2,170.32
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 4,940.92 | 405.54 | 13.63 | 1,754.33 | 500.27 * | 2,170.32 | |||
| 31 Mar 2025 | 4,704.71 | 1,454.28 | 126.36 | 1,740.83 | 486.64 * | 2,318.15 | |||
| 31 Mar 2024 | 4,115.29 | 1,141.71 | 93.25 | 1,548.18 | 366.22 * | 1,988.26 | |||
| 31 Mar 2023 | 2,987.42 | 1,039.07 | 96.69 | 916.93 | 231.04 * | 1,581.16 | |||
| Amount in ₹ Crore | |||||||||
Sify Infinit Spaces Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 7.68% |
| ROCE | 7.92% |
| Debt/Equity | 1.37x |
| PAT Margin | 8.85% |
| EBITDA Margin | 44.40% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ₹2.45 (Basic) / ₹2.41 (Diluted) | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
The proceeds from the fresh issue will be used for:
- Repayment or prepayment of certain borrowings.
- Funding capital expenditure for new data centers.
- General corporate purposes to support business growth.
In Conclusion
The Sify Infinit Spaces IPO provides an opportunity to participate in India’s growing digital infrastructure market. With 14 data centers and over 25 years of experience, the company is well-positioned for future growth. Its adoption of AI-ready cooling systems and integrated digital services underpins its leadership in the data center industry.
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Competitive Strengths
Leading position as one of the top 3 data center colocation providers in India.
Carrier-neutral data center architecture across 6 metropolitan cities worldwide with 14 total interconnected centers.
Data centers have advanced technology capabilities, including facilities certified by NVIDIA to support the delivery of artificial intelligence applications in a DGX-ready format.
Experience and industry knowledge are deep within the organization, and a significant part of the Sify Group’s brand legacy has been captured by our company.
An integrated business methodology by which we offer ICT services that are further enhanced through an entire suite of digital infrastructure products and services is what we provide to end-users.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 15/10/2025 | - |
| 2 | SEBI/Exchange approval received | - | - |
Sify Infinit Spaces IPO Timeline
| IPO Open Date | [.] |
| IPO Close Date | [.] |
| Tentative Allotment | [.] |
| Initiation of Refunds | [.] |
| Credit of Shares to Demat | [.] |
| Tentative Listing Date | [.] |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | [.] | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | [.] | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | [.] | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | [.] | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | [.] | Over ₹10,00,000 |