5 days ago
Yotta Plans Very Soon IPO Targeting $6 Billion Valuation
Yotta is an Indian company that builds and operates large data centers.
These centers provide computing power for cloud services and artificial intelligence.
The company says it may sell shares to the public very soon.
Its chief executive said Yotta could aim for a valuation of up to $6 billion.
Bloomberg reported that the IPO could raise as much as $900 million.
Yotta is expanding because many customers want more AI computing power.
The company expects to reach 400 megawatts of capacity in the next 12 to 18 months.
It operates data centers in Navi Mumbai and Greater Noida.
Yotta is also working with IntelliDB Enterprise to provide managed database services on its sovereign cloud.
Yotta Data Services is preparing to access capital markets “very soon,” according to Chairman Darshan Hiranandani.
Chief Executive Officer Sunil Gupta said Yotta is targeting a valuation of as much as $6 billion.
The company has engaged banks for an IPO that could raise as much as $900 million, Bloomberg reported.
Yotta expects to reach 400 megawatts of data-center capacity within 12 to 18 months.
Yotta says demand for AI infrastructure is outpacing its ability to deploy facilities and receive equipment on time.
- Who
- Yotta Data Services, backed by the Hiranandani Group; Chairman Darshan Hiranandani and Chief Executive Officer Sunil Gupta provided the IPO-related comments.
- What
- Yotta is preparing an initial public offering and targeting a valuation of up to $6 billion; the offering could raise as much as $900 million.
- Where
- Yotta operates data-center campuses in Navi Mumbai and Greater Noida, India.
- When
- The IPO is planned for “very soon,” while the company expects to reach 400 megawatts of capacity within 12 to 18 months.
- Why
- The company is seeking capital as it expands data-center capacity and AI computing resources amid strong demand.
Reported IPO Details
Company-Provided Guidance
IPO timing
Reported IPO Details
Bloomberg reported that Yotta has engaged banks for an IPO and could raise as much as $900 million.
Company-Provided Guidance
Darshan Hiranandani said Yotta plans to tap capital markets “very soon,” but did not provide a specific date.
Valuation and fundraising
Reported IPO Details
The reported potential IPO proceeds are as much as $900 million.
Company-Provided Guidance
Sunil Gupta said the company is targeting a valuation of as much as $6 billion, while Hiranandani declined to comment on valuation or the amount to be raised.
Expansion challenge
Reported IPO Details
Yotta is increasing spending and planning to reach 400 megawatts of capacity within 12 to 18 months.
Company-Provided Guidance
Hiranandani said demand cannot be met quickly enough, with infrastructure rollout and timely equipment deliveries presenting the main challenge.
Key facts
- Founded
- 2019
- Target valuation
- As much as $6 billion
- Potential IPO proceeds
- As much as $900 million
- Planned capacity
- 400 megawatts within 12 to 18 months
- Current infrastructure
- Tier III and Tier IV campuses in Navi Mumbai and Greater Noida
- Cloud platforms
- Yntraa Cloud and Shakti Cloud
- Strategic partnership
- IntelliDB Enterprise for managed database services on Yotta’s sovereign cloud
Quotes
Darshan Hiranandani
Chairman of Yotta Data Services
“Demand is something we can’t keep up with. In fact, it’s more about rolling out the infrastructure and getting deliveries on time.”
livemint.com
Sources
Related news
AM Intelligence Orders 9,000 Nvidia AI Systems for Hyderabad
Kamath, Vanga Invest ₹250 Crore in CtrlS Expansion
India Data Centre Capacity Seen Reaching 6 GW by 2029
Anant Raj, Lodha Tap Data Centre Boom as Growth Engine
Mumbai Leads India’s Data Centre Boom as Hyderabad Surges
USFDA Warns Reliance Life Sciences Over Navi Mumbai Drug Lapses
Mumbai Warehouse Found Relabeling Exported Maggi, Lay’s and Kurkure Packs
Bombay High Court Rejects Split Legal Challenges to Redevelopment
Navi Mumbai ACB Catches RTO Agent Over ₹4,500 Bribe
Pradeep Waghmare Begins Indefinite Strike Over Vashi Encroachments
