Sify Infinit Spaces Ltd. is preparing to file for a $500 million initial public offering in the next two weeks, according to people familiar with the matter, in what could be the first Indian data-center operator to list on bourses.

The IPO of Sify Technologies Ltd.’s unit will include both new and existing shares, the people said, asking not to be identified as the discussions are private. Deliberations on the share sale are ongoing and the details could still change, they said.

Rising AI, digitalisation fuelling data centre demand

The fundraising comes as technology firms and investors ramp up bets on data centers in the country, driven by rising digital consumption, artificial intelligence adoption and data localization initiatives. With the planned IPO, Sify will join a growing list

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