CtrlS raises ₹7,000 cr as CPP Investments buys 8.2% stake
CtrlS Datacenters just raised a massive ₹7,000 crore ($741 million), valuing the company at $4.8 billion.
The Canada Public Pension (CPP) Investments picked up an 8.2% stake, while the promoter Pinnapureddy family still holds most of the company.
This cash boost is all about expanding CtrlS's data center capacity and grabbing a bigger slice (aiming for 20%) of India's fast-growing AI data center market.
CtrlS plans 1,500 MW by 2028
CPP Investments put in ₹4,000 crore directly and another ₹3,000 crore through a joint venture.
CtrlS plans to add 1,500 megawatts in new capacity by 2028 (up from today's 370 megawatts), and they're hiring 1,200 engineers this year alone.
chairman and managing director Sridhar Pinnapureddy shared that revenue was up 16.6% from the previous fiscal to ₹1,561.8 crore, and there's even talk of an IPO within three years as India's AI boom keeps attracting big investment.