Yotta Chairman Darshan Hiranandani said the company is in talks to tap capital markets “very soon”.
CEO Sunil Gupta has said Yotta is targeting a valuation of up to $6 billion.
The company has engaged banks for an IPO that could raise as much as $900 million.
Yotta Eyes IPO ‘Very Soon’, Valuation Pegged At Up To $6 Bn
The Hiranandani Group-backed data centre company has engaged banks for an IPO that could raise up to $900 million, while its CEO has pegged its potential valuation at up to $6 billion
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Hiranandani Group-backed Yotta Data Services is looking to tap capital markets “very soon”, Chairman Darshan Hiranandani said in an interview with Bloomberg Television. Hiranandani, however, declined to comment on the company’s valuation or the amount it plans to raise.
Yotta CEO Sunil Gupta separately told Dow Jones that the data centre company is targeting a valuation of as much as $6 billion, Bloomberg reported.
According to the news agency, Yotta has already engaged banks for an initial public offering (IPO) that could raise as much as $900 million. The company, founded in 2019, operates hyperscale data centres and provides cloud and AI computing infrastructure.
Yotta Steps Up Data Centre Expansion
Yotta is also expanding its computing capacity as demand for artificial intelligence (AI) infrastructure rises globally. According to the news agency, the company expects to reach 400 megawatts of capacity over the next 12 to 18 months.
The company also has the ability to tap around $20 billion worth of graphics processing units (GPUs). GPUs are used by data centres to handle the large volumes of computing needed to train and run AI models.
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Hiranandani said Yotta is seeing very strong demand, with the focus now shifting to expanding infrastructure and ensuring timely equipment deliveries.
Global Demand Drives Yotta’s Growth
Hiranandani expects the dollar-denominated share of Yotta’s sales to rise to 80% next year, compared with around 20% of revenue from dollar-paying clients last year, according to the news agency.
He said global demand and the scale of AI infrastructure are growing rapidly, outpacing the company’s rupee-based revenue growth.
Yotta operates data centre campuses in Navi Mumbai and Greater Noida, offering colocation, cloud, managed IT and AI infrastructure services, as cited by Mint.
The company has also been expanding its AI infrastructure partnerships. Earlier this week, IntelliDB Enterprise announced a strategic partnership with Yotta to offer managed database services on Yotta’s sovereign cloud infrastructure.