Kotak Data Center Fund invests in Sify’s Data Center business
By MYBRANDBOOK
Kotak Data Center Fund (KDCF), managed by Kotak Alternate Asset Managers (KotakAlt), announced an investment of Rs 600 crore in Sify Infinit Spaces (SISL), a wholly-owned subsidiary of Sify Technologies (‘Sify’).
Srini Sriniwasan, Managing Director, Kotak Alternate Asset Managers said, “We are delighted to partner with Sify to build out the Data Center capacity in India and contribute to the goal of a digitally savvy India, based on the strength of Sify’s entrepreneurial capabilities and experienced management team. Data Centers 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 Center sector is a long-term secular opportunity.”
With this transaction, KotakAlt managed funds total equity commitment to SISL is Rs 1,600 crore, of which Rs 1,000 crore has been invested to date including the current investment of Rs 600 crore. The KDCF investment is in the form of Compulsorily Convertible Debentures, which will be converted into equity based on the operational performance of SISL over a specified reference period. The funds would be used to expand SISL’s Data Center capacity across India and invest in renewable energy.
MP Vijay Kumar, Executive Director and Group CFO, Sify said, “Kotak Alternate Asset Managers’ continuing investment in Sify Data Centers is an endorsement of our roadmap for Sify’s Data Center business and the larger potential within the Indian geography. This partnership gives us the needful equity to scale up our Data Center footprint and realize our opportunities faster. Our intent is to build capacity in sync with customer demand, in the most modular design and by deploying the latest and most cost-effective technologies.”
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Autodesk continually pushing the boundaries in the Design and
Autodesk’s vision is of a better world designed and made for all. It inte
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
ADITYA INFOTECH LTD.
NETWEB TECHNOLOGIES INDIA LTD.
TP-LINK INDIA PVT. LTD.
SAFE SECURITY SERVICES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Debjani Ghosh
Debjani Ghosh is the President of the National Association of Software...
Icons Of India : AMIT CHADHA
Amit Chadha serves as the CEO and Managing Director of L&T Technology ...
SHAKTIKANTA DAS
Shaktikanta Das is serving as the current & 25th governor of the Reser...
PARTNER SPEAKERS
PSU
DRDO - Defence Research and Development Organisation
DRDO responsible for the development of technology for use by the mili...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Soni Jiandani, Co-Founder- Pensando Systems
Soni Jiandani, Co-Founder of Pensando Systems, is a tech visionary ren...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
