Indian data center provider Yotta Data Services is preparing to launch an initial public offering in the near future, according to its chairman, Dashan Hiranandani. The announcement marks a significant step for the company as it seeks to tap public markets amid rapid expansion in India's hyperscale data center landscape.
Speaking to Bloomberg, Hiranandani confirmed that discussions regarding an IPO were already underway, but declined to specify the valuation the company would target or the amount it intends to raise in the offering. Previous reports have suggested that the company could seek approximately $900 million at a valuation of $6 billion. DCD has contacted the company for comment.
The IPO plans come as Yotta accelerates its infrastructure buildout. The company is currently aiming to reach 400MW of capacity within the next 12 to 18 months, with Hiranandani noting that it has the ability to tap $20 billion in GPUs to support AI workloads. In February of this year, the company announced plans to invest $2 billion in 20,000 Nvidia Blackwell GPUs at its data center in Noida, India. This week, Business Standard reported that the company had placed an order for 50,000 Nvidia Vera Rubin GPUs, valued at $7.5 billion, as well as 45,000 Nvidia GB300s.
Founded in 2019, Yotta currently operates four live hyperscale data centers in India, located in Navi Mumbai, Noida, and Gujarat, with an additional eight edge facilities planned. The company was previously reported to be considering going public via a SPAC merger, but terminated that agreement at the start of this year.
The move toward a traditional IPO reflects a broader trend among Indian data center operators seeking long-term capital to fund massive infrastructure investments. As demand for AI compute and cloud services surges across the region, Yotta's public listing could provide the financial firepower needed to scale its operations and compete with both domestic and global players. Industry observers will be watching closely for further details on the offering's size and timing as the company moves forward.