Yotta Data Services raises Rs 13.57 billion in debt from SBI

Yotta Data Services and its subsidiary NMDC Data Centre have raised over Rs 13.57 billion through a long-term loan from the State Bank of India (SBI). The entire loan facility includes a debt worth Rs 13 billion and a non-fund-based facility worth Rs 570 million. The debt includes an issue of 80,000 non-convertible debentures worth Rs 8 billion to SBI. 

The company has raised the debt against its two data centres in Navi Mumbai by hypothecating the assets in favour of the bank. Certain receivables from the company’s data centre in Powai, Mumbai have also been pledged to secure the loan. The loan will provide an 8.85 per cent return on investment to the bank with a total term of 12 years. 

The transaction was registered in December 2023.