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Sify Infinit Spaces Limited, a wholly owned subsidiary of Nasdaq listed Sify Technologies Limited, today announced the listing of its first market offering in the form of Listed, Secured, Redeemable, Non-Convertible Debentures. The issue aggregating to INR 250,00,00,000 was fully subscribed. The Company's 15-year bonds were subscribed by the Investors at a coupon rate of 8.95%. The NCD is rated as AA- (Double A minus) by CARE. The company also announced the listing of the NCDs on the Bombay Stock Exchange at close of market Friday, October 04, 2024. The debentures are secured by the Moveable Fixed Assets and Receivables pertaining to specific Data Centers. The proceeds from the issue have been used to repay the outstanding Bank Term loans against them. M/s India Infradebt anchored the issue and subscribed with INR 75 Crores. Kotak Infrastructure Debt Fund and NIIF Infrastructure Finance Limited have subscribed INR 140 Crores and INR 35 Crores respectively.

Sify Infinit Spaces Limited’s maiden Non-Convertible Debentures Fully Subscribed on Listing

IT solutions and data centre company Sify Technologies, on Tuesday, announced that it has become an NVIDIA colocation partner and can support AI servers with certified liquid cooling technology. He explained that GPU computation requires large power and cooling needs and therefore the right infrastructure is important for data centres to become AI-ready. Liquid cooling techniques, where servers are immersed in a liquid coolant to dissipate heat is emerging as the standard for processing AI workloads globally. This reduces dependency on water and air cooling. However, operational expenses are significantly higher for supporting GPUs compared to generic CPU servers, Agarwal said.

Sify data centres ready to support AI servers with liquid cooling: CEO

With Data centers offering strong profitability margins new players with deeper pockets have entered the Data center market in India. SISL faces high competition from other established domestic players. Though SISL has an advantage in terms of proven track record of operations, the ability to maintain the pricing for the planned capacity remains crucial going forward.

The issuer has made timely interest payments.

Sharad Agarwal, Chief Executive Officer

Sify group is one of the leading players in the data centre and networking business in India. The company has transitioned from plain vanilla service offering to customise data centre solution operators. Sify Technologies Limited (STL), the parent company of SISL is the first company to set up the commercial data centre in India in the year 2000.

SISL has a stable annuity stream of inflows wherein the customers enter medium to long-term service contracts with defined rates to utilise its data centres and related IT infrastructure services. The economic costs involved in the transfer and the data security issues, replacing the existing service provider with another party prevent any migration and impart high customer stickiness. 

The data center industry is receiving an influx of demand from global technology solution providers on the back of increasing digitalization. India contributes 20% of global data despite having a data centre capacity of only 3% globally. The data center capacity (MW) per million users is relatively lower for India compared to its peers. Further the demand is expected to be driven by rapid digitization viz e-commerce, internet payments, online streaming and gaming services and adoption of new technologies such as 5G, IOT and Artificial Intelligence. 

Security Name: 8.95% Sify Infinit Spaces Limited 30 Sep 2039

ISIN:

INE0KIS07011

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Sify Infinit Spaces Limited’s maiden Non-Convertible Debentures Fully Subscribed on Listing

Sify data centres ready to support AI servers with liquid cooling: CEO

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