STT Global Data Centres India Pvt. plans an initial public offering in Mumbai. The data center company wants a total valuation between $5 billion and $5.5 billion. Increasing investor interest in digital infrastructure has caused this decision. The fast growth of cloud computing and artificial intelligence drives interest in data centers worldwide. CBRE Group Inc. forecasts total investments in the Indian data center sector will exceed $100 billion by 2027.
The company has invited investment banks to submit proposals for advisory roles. It expects to choose its advisors before the month’s end.
The firm intends to submit its draft prospectus within the next two to three months. The actual public listing could happen by the end of this year. However, discussions remain active, and the IPO’s size or timing might change.
The company began operating in 2007 as Tata Communications Data Centres. Singapore-based ST Telemedia Global Data Centres holds a 74% stake in the firm, according to rating agency ICRA. Tata Communications Ltd. owns the remaining 26% stake. The company runs more than 30 data centers across 10 Indian cities. These facilities offer over 400 megawatts of essential IT load capacity.
Global technology companies like Google and OpenAI have announced expansion plans in India. Reliance Industries Ltd. is also developing a large data center project costing a potential $30 billion.
STT India will become one of the few pure-play data center operators listed on the Indian stock exchanges. Other companies in this business are also planning public listings. Sify Infinit Spaces Ltd. was preparing to launch its public offer soon (naw delayed). Yotta Data Services Pvt. has recently appointed investment banks for its upcoming IPO.
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