IFC invested $71M in Sify Infinit Spaces, with plans for $371M total, backing two AI-ready data centres in Navi Mumbai and Chennai as India's digital infrastructure race heats up.
The International Finance Corporation has put $71 million into Sify Infinit Spaces Ltd, the data centre arm of Sify Technologies, with plans to inject up to $371 million across two projects in Navi Mumbai and Chennai, the companies said Thursday.
The two facilities will have a combined capacity of 103 megawatts, built for AI-ready workloads. Sify expects them to create jobs and expand access to digital infrastructure for banking, media, and e-commerce clients as India's cloud and AI demand accelerates.
"India's digital transformation requires infrastructure that is equally scalable, resilient, and sustainable," said Vikram Kumar, IFC's regional industry director for infrastructure and natural resources in Asia and the Pacific. The investment helps "strengthen and build out the country's digital ecosystem," he added.
Sify Infinit Spaces CFO Ganesh Sankararaman called the IFC backing "a powerful vote of confidence that strengthens our position in the market."
The company received regulatory approval earlier this year to raise about ₹3,700 crore through an IPO. Weak and volatile stock market conditions pushed the listing plans back.
India now accounts for 20% of global data consumption, with over 1 billion internet users and 1.2 billion mobile subscribers. Investors are chasing that growth. CtrlS Datacenters raised about ₹7,000 crore from CPP Investments at a $4.8 billion valuation this week. Blackstone-backed Airtrunk outlined plans to invest about $30 billion in India over four years. Blackstone also put about $600 million into AI cloud platform Neysa earlier this year. Alpha Wave Global and Carlyle together invested $1 billion in Bharti Airtel's data centre subsidiary Nxtra Data.
Sify Infinit Spaces has not set a new date for its IPO.
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