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Sify, ESDS lead India's data center IPO rush

Business

India's data center industry is about to see some big IPO action, with company valuations exceeding $4 billion.
Sify Technologies is targeting a $500 million IPO, and ESDS Software Solutions filed for its own in March 2024, aiming for a $268 million valuation.

Nxtra and Yotta are also in the race

Bharti Airtel's Nxtra is valued at $1 billion and has already secured $242 million in funding—it's planning to go public within the next two to three years.
Yotta Data Services wants a Nasdaq listing at around $4.2 billion, but hasn't confirmed any Indian IPO plans yet.

Nxtra is doubling its capacity by 2027

India's data centers are booming thanks to rising demand for cloud services, AI, and 5G tech.
Nxtra alone runs 14 major centers and over 120 edge sites across 65 cities, with plans to invest ₹5,000 crore and double its capacity by 2027.
Most of this new capacity is already booked by big tech players—so growth looks strong for the near future.