Sify Unit Garners INR 1,000 Crore from Kotak Special Situations Fund
Sify Infinit Spaces Ltd., Sify Technological Ltd.'s centre unit, is garnering INR 1,000 crore from the Kotak Special Situations Fund.
The investment will take the form of compulsorily convertible debentures, which will convert into equity based on Sify Infinit Spaces' operational success over a set period of time. The funds will be utilised to establish new data centres in Noida, Bengaluru, Mumbai, Hyderabad and Chennai as well as to invest in renewable energy requirements for these facilities.
Sify currently operates ten data centres in India, servicing both domestic and international businesses. In response to increased demand from these cities, it has announced plans to build 200 MW data centres in Bengaluru, Delhi and Mumbai over the next four years.
The Kotak Special Situations Fund is managed by Kotak Investment Advisors Ltd, which was founded in early 2005 by NSE -0.63 % to focus on the lender's alternate assets strategy.
MP Vijay Kumar, Sify’s CFO said, “the hyperscalers and enterprise customers have shown high confidence in colocating to our data centres over time and these engagements continue to scale. The KSSF partnership will give us access to long-term capital, beyond the present investment”.
Sify Infinit Spaces Limited is a public business based in Chennai that was founded on November 20, 2017. The authorised share capital of SIFY INFINIT SPACES LIMITED is 250,000,000 INR, whereas the paid up capital is 50,000,000 INR. It is a non-government organisation that is registered with the Registrar of Companies in Chennai.
The investment will take the form of compulsorily convertible debentures, which will convert into equity based on Sify Infinit Spaces' operational success over a set period of time. The funds will be utilised to establish new data centres in Noida, Bengaluru, Mumbai, Hyderabad and Chennai as well as to invest in renewable energy requirements for these facilities.
Sify currently operates ten data centres in India, servicing both domestic and international businesses. In response to increased demand from these cities, it has announced plans to build 200 MW data centres in Bengaluru, Delhi and Mumbai over the next four years.
The Kotak Special Situations Fund is managed by Kotak Investment Advisors Ltd, which was founded in early 2005 by NSE -0.63 % to focus on the lender's alternate assets strategy.
MP Vijay Kumar, Sify’s CFO said, “the hyperscalers and enterprise customers have shown high confidence in colocating to our data centres over time and these engagements continue to scale. The KSSF partnership will give us access to long-term capital, beyond the present investment”.
Sify Infinit Spaces Limited is a public business based in Chennai that was founded on November 20, 2017. The authorised share capital of SIFY INFINIT SPACES LIMITED is 250,000,000 INR, whereas the paid up capital is 50,000,000 INR. It is a non-government organisation that is registered with the Registrar of Companies in Chennai.
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