Sify Infinit Spaces targets up to $4 billion expansion funding
Sify Infinit Spaces, the data center arm of Sify Technologies, is planning to raise up to $4 billion over the next four years to expand its operations.
CEO Sharad Agarwal explained that, while Sharad Agarwal said, "One source to fund our expansion is through accruals; the free cash flow from our business is enough for 10-20% growth this year," it will need outside funds if it wants to ramp things up by 50% to 70%.
Sify Infinit Spaces delays ₹3,700cr IPO
Sify Infinit Spaces's ₹3,700 crore IPO is on hold thanks to shaky markets and uncertainty from the West Asia conflict.
Agarwal also pointed out that with rivals like Nxtra and CtrlS investing heavily, price wars could squeeze profits for everyone.
To stay competitive, Sify is looking at private placements and follow-on offers instead of waiting for better IPO timing.