Tata Communications-backed STT Global Data Centres plans $500 million Mumbai IPO
Business
STT Global Data Centres, backed by Tata Communications, is getting ready for a big move. It is planning to raise up to $500 million through an IPO in Mumbai.
The company hopes this will push its value up to around $5 billion to $5.5 billion.
If all goes well, it will file the official paperwork in the next few months and aim for a late 2026 launch.
STT IPO advisors due this month
Advisors for the IPO are being picked now, with appointments targeted by the end of the month.
This comes as India's data center market is set to explode (think over $100 billion invested by 2027) as demand for AI and cloud services skyrockets.
Founded in 2007, STT runs more than 30 data centers across 10 cities, making it one of the country's biggest players alongside Sify and Yotta.