Data centres: Kotak Mahindra arm to invest Rs. 1,000 crore

0
46
Data centres: kotak Mahindra arm to invest Rs. 1,000 crore
Data centres: kotak Mahindra arm to invest Rs. 1,000 crore

Including Adanis and Japan’s NTT, the data centres business is attracting investment commitments from major corporates on rising digital consumption and policy moves like data localization. Sify had installed India’s first such facility over two decades ago

A Rs. 1,000-crore investment in the data centres business of Sify Technologies was announced on Monday by distressed assets focused fund promoted by a Kotak Mahindra Bank arm. To build data centres in Mumbai, Noida, Chennai, Bangalore and Hyderabad, the investment in Sify Infinit Spaces will help the company invest up to Rs. 4,000 crore and also invest in renewable energy assets for the company’s assets, a statement said.

Kotak Special Situations Fund (KSSF), which is managed by Kotak Investment Advisors, has signed an agreement under which an investment will be done in compulsorily convertible debentures which will convert into equity based on the operational performance of SIS over a specified reference period, it said.

Including Adanis and Japan’s NTT, the data centres business is attracting investment commitments from major corporates on rising digital consumption and policy moves like data localization. Sify had installed India’s first such facility over two decades ago.

“Data centres are at the core of the country’s Digital India ambition, and we believe that with vibrant entrepreneurship in the digital space, rich media consumption by an exploding well-connected population and increasing requirements for local storage of data, India’s Data Centres sector is a long term secular opportunity”, said Srini Sriniwasan, managing director of Kotak Investment Advisors.

“The current capacity of the Data Centres industry in India is expanding at an unprecedented pace, powered by wider cloud adoption, 5G rollout and accelerated digital transformation programmes of enterprises”, Raju Vegesna, chairman and managing director of Sify.

Also readCIO News interviews Shri Wangki Lowang, Minister (IT) of Arunachal Pradesh

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.