Sify data centre arm IPO on track and will be timed with market conditions, says CFO

Sify Infinit Spaces, the data centre subsidiary of Sify technologies is on track for its Initial Public Offering with the company discussing the timeline of the listing with its bankers.

Speaking to businessline post the company’s March quarter earnings, MP Vijay Kumar, Group CFO said that the company has received all necessary approvals from SEBI and are now evaluating a possible time of listing.

“The banker’s view is that the volatility in the market is too high. It has to stabilise for at least some reasonable period before we can hit the market. We do not have any pressure for capital raise immediately because for the projects for this year we have done the financial closure earlier,” he said.

Sify Infinit Spaces Ltd had filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI) earlier this year.

The company sold 17 MW of data centre capacity in the financial year ending March 2026. Cumulatively, sold capacity stood at 129 MW and the business has contracted an additional 81MW to be delivered in FY26-27.

As for the impact of the war in West Asia , Kumar said that the crisis has had a positive impact on the company’s data centre business.

“Most of the hyperscalers who are looking at capacities to be consumed out of the Middle East are actively looking at deploying some of that in India. So to that extent, it is going to be positive for India,” he added.

Sify Technologies on Monday reported a net loss of ₹37 crore for the fourth quarter ended March 2026, as against a net loss of ₹58 crore for the corresponding quarter last year.

Revenue during the quarter was up 24 per cent to ₹1,202 crore.

For the full financial year ending March 2026, the net loss stood at ₹136 crore as against ₹78.5 crore loss in the previous year. Revenue for the year went up 12.5 per cent to ₹44,877 crore.

According to Kumar, the loss for the year included a one-time expense of ₹40 crores for converting Compulsorily Convertible Debenture (CCD) held by Kotak as equity.

Moreover, he said that the company is investing heavily in upskilling and building capabilities and as a result he expects some pressure for a few more quarters.

The revenue split between the businesses for FY26 was network services at 39 per cent, data centre services - 39 per cent and digital services - 22 per cent.

Raju Vegesna, Chairman, Sify, said in a release that India’s digital journey continues to accelerate with renewed clarity and purpose “With sustained investments in digital infrastructure and such strong regulatory vision, India is reinforcing its credentials as a technology hub. In this environment, Sify is uniquely positioned to partner with enterprises in their next phase of transformation, delivering integrated solutions that power growth and resilience,” he added.

Published on April 13, 2026