Sify Infinit files DRHP for Rs 37 billion IPO

Sify Infinit Spaces has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 37 billion through an initial public offering (IPO). The issue comprises Rs 25 billion fresh issue and an offer for sale (OFS) component of Rs 12 billion. The company may also consider to raise Rs 5 billion through a pre-IPO round.

Further, the proceeds from the issue will be utilised to fund data centre additions and debt repayment. Sify will mark the first data centre IPO in India.