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 a Rs 25 billion fresh issue and an offer for sale (OFS) component of Rs 12 billion. The company may also consider raising Rs 5 billion through a pre-IPO round. 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.