Yotta Data Services plans to access capital markets amid AI demand

Yotta Data Services, the Indian data center company backed by real estate conglomerate Hiranandani Group, is preparing to tap public markets as demand for AI computing infrastructure continues to accelerate globally. The company is targeting an India listing as early as Q4 of its fiscal year 2027, with a public offering that could raise up to $400 million. Yotta’s fundraising ambitions are anything but modest. The company is targeting a total capital raise of $1 billion to $1.5 billion for fiscal year 2027, combining private pre-IPO funding with the planned public offering. It has already made progress on the private side, recently securing $150 million from high-net-worth individuals at a valuation of approximately $3.9 billion (around 37,000 crore rupees). Notably, that raise didn’t require the Hiranandani family to dilute their promoter stake. The IPO itself is expected to be supported by prominent book-runners including Kotak Mahindra Capital, ICICI Securities, and SBI Capital Markets. Yotta Chairman Darshan Hiranandani confirmed that discussions are underway to list on the stock market, with the India listing taking priority while a potential US listing remains on the table fo...