Sify unit to raise Rs 1,000 crore from Kotak Special Situations Fund

Sify unit to raise Rs 1,000 crore from Kotak Special Situations Fund


Mumbai: Sify Infinit Spaces Ltd., the data centre unit of Sify Technologies Ltd., is raising Rs 1,000 crore from Kotak Special Situations Fund.

The investment will be in the form of compulsorily convertible debentures, which will convert into equity based on operational performance of Sify Infinit Spaces over a specified period. The capital will be used to set up new data centres in Mumbai, Noida, Chennai, Bengaluru and Hyderabad and invest in renewable energy requirements of these units.

Sify currently has 10 operational data centres in India, serving local and global enterprises. It recently announced plans for setting up 200 MW capacity data centres in Mumbai, Delhi and Bengaluru over the next four years, in light of high demand from these cities.

Kotak Special Situations Fund is managed by Kotak Investment Advisors Ltd, which was set up by in early 2005 to focus on the lender’s alternate assets practice.

“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’s CFO MP Vijay Kumar said.

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