Business Profile of Sify Infinit Spaces Limited
Sify Infinit Spaces, a part of Sify Group, it is one of India’s leading data center colocation service provider. Its data centers are strategically located in high-demand areas and serve both Hyperscaler (large cloud providers) and Enterprise (business) clients. It offers a full range of services including colocation, build-to-suit, interconnection, and value-added digital services, helping clients meet their growing digital needs. As of June 30, 2025, the company operates 14 data centers across 6 cities Mumbai, Chennai, Noida, Hyderabad, Bengaluru, and Kolkata with a total built IT power capacity of 188.04 MW. Three of its newest facilities are AI-ready, certified by NVIDIA for both air and liquid cooling. These facilities can support AI workloads up to 130 kW per rack with direct-to-chip cooling. The company also provides network and IT services through its group companies, making them a one-stop ICT solution provider.
Objective of Sify Infinit Spaces Limited IPO
As per the draft red hearing prospects, the IPO issue consists fresh issue and offer for sale. The fresh issue consists of XXXX shares at the face value of ₨10.00 each aggregating up to ₹ 25,000.00 million and OFS consists XXXX shares at face value of ₨ 10.00 each aggregating up to Rs 12,000.00 million. There are fresh shares issues and OFS by company and main objective of company is funding of capital expenditure requirements towards its data centers, re-payment of outstanding borrowings and general corporate purposes.
Details of Sify Infinit Spaces Limited IPO
| IPO Open Date | N.A. |
| IPO Close Date | N.A. |
| Basis of Allotment | N.A. |
| Listing Date | N.A. |
| Face Value | ₹10.00 per share |
| Price | N.A. |
| Lot Size | N.A. |
| Total Issue Size | Up to XXXX Equity shares |
| Aggregating up to Rs 37,000.00 million. | |
| Fresh Issue | Up to XXXX Equity Shares |
| Aggregating up to ₨ 25,000.00 million. | |
| Offer For Sale | Up to XXXX Equity Shares |
| Aggregating up to ₨ 12,000.00 million. | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE & NSE |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not more than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Sify Infinit Spaces Limited IPO: Issue Price & Size
The issue price of SIFY INFINIT SPACES hasn’t been released yet. Upon releasing the dates, the investors can bid between those price ranges. The company has fresh issue and OFS aggregating up to ₹ 37,000.00 million at the price of ₨XXXX.
Launch Date of Sify Infinit Spaces Limited IPO
The IPO opening date of SIFY INFINIT SPACES LIMITED hasn’t been officially announced yet, upon the declaration of dates investor can bid for IPO.
Financial Statements of Sify Infinit Spaces Limited
| Particulars (Rs in Millions) | Ended (June 30,2025) | Ended (March 31 , 2025) |
| Revenue from operations | 3,985.98 | 14,283.65 |
| Other income | 69.44 | 259.1 |
| Total income | 4,055.42 | 14,542.75 |
| Expenses | ||
| Cost of services rendered | 1,549.31 | 5,824.00 |
| Employee benefits expense | 176.04 | 544.36 |
| Finance costs | 564.15 | 1,528.14 |
| Depreciation and amortisation expense | 1,075.70 | 3,268.16 |
| Other expenses | 482.84 | 1,575.00 |
| Total expenses | 3,848.04 | 12,739.66 |
| Profit before share of profit / ( loss ) of an associate | 207.38 | 1,803.09 |
| Associate Share of profit / ( loss ) | -11.41 | -0.45 |
| Profit Before Tax | 195.97 | 1,802.64 |
| Tax expense | ||
| Current Tax | -114.89 | -681.23 |
| Deferred Tax | 55.24 | 142.19 |
| Total Tax Expenses | -59.65 | -539.04 |
| Profit After Tax | 136.32 | 1,263.60 |
Key financial ratios of Sify Infinit Spaces Limited
| Metric | Unit | March 31 , | March 31 , | March 31 , |
| 2025 | 2024 | 2023 | ||
| Revenue from Operations | INR Mn | 14,283.65 | 11,141.70 | 10,213.40 |
| Revenue Growth | % | 28.20% | 9.09% | 34.70% |
| EBITDA | INR Mn | 6,342.46 | 4,652.65 | 4,126.06 |
| EBITDA Margin | % | 44.40% | 41.76% | 40.40% |
| Profit Before Tax (PBT) | INR Mn | 1,802.64 | 1,141.78 | 1,268.46 |
| PBT Margin | % | 12.62% | 10.25% | 12.42% |
| Profit After Tax ( ” PAT ” ) | INR Mn | 1,263.60 | 932.48 | 966.86 |
| PAT Margin | % | 8.85% | 8.37% | 9.47% |
| Net Debt | INR Mn | 23,236.04 | 21,503.16 | 16,007.20 |
| Long Term Debt to Equity | Ratio | 1.37 | 1.28 | 1.62 |
| Net Debt to EBITDA | Ratio | 3.66 | 4.62 | 3.88 |
| No. of Data Centers Built | Number | 14 | 12 | 11 |
| Count of Cities Present In | Number | 6 | 6 | 6 |
| Total Built Capacity | MW | 188.04 | 136.2 | 92.63 |
| Total Operational Capacity | MW | 111.37 | 85.49 | 77.09 |
Promoters & Shareholding Sify Infinit Spaces Limited IPO
As of date, according to the DRHP filed with SEBI promoters and promoter group have 100.00% shareholding in company.
| Name of Shareholder | No. of Equity Shares | % of total shareholding |
| Promoters & Promoter Group | 51,01,31,119 | 100.00% |
| Public | 8 | 0% |
| Total (A+B) | 51,01,31,127 | 100 |
Should You Subscribe To Sify Infinit Spaces Limited IPO
While investing or subscribing to any IPO, consider the investment rationales related to the company. Hence, here you can find out the strength of the company that will be its growth factors. And also check the risk factors that can affect the growth and operational efficiency of the company.
Competitive Strengths of Sify Infinit Spaces Limited IPO
Pioneer in data center infrastructure
Sify Technologies Limited, the parent company of SISL was the first company to establish a commercial data center in India. This pioneering position enabled SISL to build extensive expertise and a strong operational foundation in the sector. Its early entry provided long-term strategic advantages, including established client relationships, scalable infrastructure, and deep domain knowledge. Sify’s long-standing presence and experience in managing secure, reliable, and compliant data center environments remain a key strength in its competitive positioning.
Robust Revenue growth
SISL has demonstrated a robust financial trajectory in the last three financial years, with revenue growing from INR 5,628.69 million in Fiscal 2021 to INR 11,141.70 million in Fiscal 2024, reflecting a CAGR of over 25.56%. The company’s revenue further accelerated in the current financial year, reaching INR 14,283.65 million in Fiscal 2025, compared to INR 11,141.70 million in Fiscal year 2024.
Converged ecosystem of data center services
SISL, through and with the group entities offer a comprehensive, one-stop solution for enterprises by offering integrated services. It offers end-to-end digital services, combining network, cloud, data center, and managed services under one platform. Backed by India’s largest MPLS network and hyperscale data centers with toptier certifications like PCI DSS, SOC I and II, and ISO 27001, SISL ensures secure, scalable, and highperformance service delivery.
Technological advancements and AI ready campuses
SISL leverages Sify Technologies Limited’s hybrid and multi-cloud expertise, underpinned by its “Cloud Connect” backbone spanning 70+ data centers, to deliver agile, scalable cloud solutions. Complemented by hosted platforms for AI (GPU-as-a-Service), immersive technologies (AR/VR), and digital learning, SISL demonstrates a strong commitment to innovation-led enterprise transformation.84 SISL data centers provide a flexible, scalable infrastructure platform that meets global hosting practices.
Risk Factors of Sify Infinit Spaces Limited IPO
Customer concentration risk
In the three months ended June 30, 2025, and Fiscals 2025, 2024 and 2023, company derived 82.26%, 82.43%, 79.44% and 81.43% of its revenue from operations, respectively, from top 10 clients, which include all of their Hyperscaler clients and key Enterprise clients. The loss of such key clients may materially and adversely affect business, future prospects, and financial performance.
Cyber risk
Cyber-attacks, computer viruses or other unauthorized activity to their system or internal network, and physical security breaches into their secure areas of operations, may cause material adverse effects on company business, financial performance and results of operations. In addition, any inadvertent transmission of computer viruses could expose them to a material risk of loss or litigation and possible liability.
Huge capital requirement
The data center business is capital-intensive, and their expectation for capacity to generate capital in the short term may be insufficient to meet its anticipated capital requirements. The costs of building, developing and operating data centers are substantial, and such costs have increased in recent years. They are required to fund the costs of building, developing and operating its data centers with cash retained from operations, as well as from financings from bank and other borrowings.
Counterparty credit risk
As part of company standard payment terms under the agreements and orders, they provide clients with certain credit periods, as part of their standard payment terms, thereby exposing to counterparty credit risk, including significant delays in receiving payments or non-receipt of payment. The credit period offered by their suppliers is generally 30 days which is within the credit period range of 25-60 days that company generally grant to clients. There can be no assurance that they will not experience any significant cash flow mismatches in the future.
Sify Infinit Spaces Limited IPO Grey Market Premium
Grey market premium is the premium quoted over the IPO issue price. GMP shows that investors are ready to pay above the upper band of the IPO issue price. GMP is determined in the grey market as per the demand and supply of the shares in the primary market. A grey market is that unofficial ecosystem of unlisted companies’ stocks that start trading even before the launch of the IPO to the date of its listing.
Also Read: What is Grey Market Premium in IPO: How is GMP Calculated & Reliable
However, GMP is not a reliable factor, as it keeps fluctuating as per the demand and supply of shares in the primary market. There are numerous factors that affect the stock market in India and individual stock prices of different companies that are already listed and trading in the secondary market. However, for an IPO-bounded company, you can consider the GMP as the speculative listing price of the share
According to various online sources, the Grey Market Premium or GMP of the SIFY INFINIT SPACES LIMITED is trading around Rs XX in the grey market. It means shares are trading at the upper band issue price of Rs XX with a premium in the grey market and may list around the same price.
