Kotak Special Situations Fund (KSSF), managed by Kotak Investment
Advisors Limited (KIAL) and whose LPs include leading Sovereign
Wealth Funds, and Sify Technologies Limited (‘Sify’), India’s most
comprehensive ICT service & solutions provider, today announced
an agreement under which KSSF will invest up to INR 1,000 crore
(USD 135 million) in Sify Infinit Spaces Limited (SISL), a
wholly-owned subsidiary of Sify. SISL is a leading data centre
services player in India, serving Indian and Global enterprise
customers and hyperscalers from its ten operational Data Centres
across the country.
Under the transaction, the KSSF investment will be in the
form of Compulsorily Convertible Debentures, which will convert
into equity based on the operational performance of SIS over a
specified reference period. The funds would be used to invest in
SIS’ current plan under execution of developing new Data Centres in
Mumbai, Noida, Chennai, Bangalore and Hyderabad and for investment
in renewable energy requirements for its operational and new Data
Centres for up to INR 4,000 crore (USD 530 million).
Raju Vegesna, Chairman and Managing Director, Sify said,
“India is set for significant economic growth and is becoming the
first choice destination for both global businesses and investors.
India is witnessing the rise of Information technology-driven
entrepreneurship and business growth. The current capacity of the
Data Centre industry in India is expanding at an unprecedented
pace, powered by wider cloud adoption, 5G rollout and accelerated
digital transformation programmes of enterprises. We are delighted
to partner with KSSF as a part of this journey to build world-class
Data Centre facilities for our customers to benefit from the large
scale digital transformation of India.”
MP Vijay Kumar, Chief Financial Officer, Sify said, “The
hyperscalers and enterprise customers have shown high confidence in
colocating to our Data Centres over time and these engagements
continue to scale. The KSSF partnership will give us access to
long-term capital, beyond the present investment. We will, as
always, be prudent in our business judgements and build facilities
close to assessment of customer demand and in a modular way,
deploying the latest and most cost-effective technologies for both
design and operations.”
Srini Sriniwasan, Managing Director, Kotak Investment
Advisors Limited said, “We are delighted to partner with Sify to
build out the Data Centre 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
Centres 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 Centre sector is a long term secular opportunity.”
Eshwar Karra, CEO-Kotak Special Situations Fund, Kotak
Investment Advisors Limited said, “Our investment in SIS is in line
with our strategy of providing capital to unique India
opportunities that require flexible and customised capital
solutions, which enables us to grow with our partners and
participate in their success while providing value-added support
and opportunistic capital in size and scale.”
About Kotak Investment Advisors Limited
Kotak Investment Advisors Limited (KIAL), a part of the Kotak
Mahindra Bank (Kotak), focuses on the Alternate Assets business.
KIAL was set up in early 2005 to bring a sharper focus to Kotak’s
alternate assets practice and has raised/managed/advised in
aggregate over USD 4.9 billion across different asset classes
including Private Equity Funds, Real Estate Funds, Infrastructure
Funds, Special Situations Fund, Listed Strategies and Investment
Advisory, all led by independent investment teams.
For more information, visit
alternateassets.kotak.com
About Kotak Special Situations Fund
Kotak Special Situations Fund (KSSF) is an Alternative
Investment Fund under SEBI regulations managed by the Alternate
Asset Management Company - Kotak Investment Advisors Ltd. KSSF
currently manages a USD 1 billion fund and is uniquely positioned
to be a provider of customised solutions capital to corporates.
KSSF has partnered with companies across sectors via customised
structures/solutions depending on their situation, requirements and
business prospects. With an ability to tactically participate
across the capital structure of an enterprise, KSSF has been
targeting value propositions across a spectrum of opportunities
from growth, to credit situations and stressed assets.
About SIFY
Sify Technologies is India’s most comprehensive ICT service
& solution provider. With Cloud at the core of our solutions
portfolio, Sify is focussed on the changing ICT requirements of the
emerging Digital economy and the resultant demands from large, mid
and small-sized businesses.
Sify’s infrastructure comprising the largest MPLS network,
top-of-the-line DCs, partnership with global technology majors,
vast expertise in business transformation solutions modelled on the
cloud make it the first choice of start-ups, incoming Enterprises
and even large Enterprises on the verge of a revamp. More than
10,000 businesses across multiple verticals have taken advantage of
our unassailable trinity of Data Centres, Networks and Security
services and conduct their business seamlessly from more than 1600
cities in India. Internationally, Sify has presence across North
America, the United Kingdom and Singapore.
Sify, www.sify.com and Sify Technologies,
www.sifytechnologies.com are registered trademarks of Sify
Technologies Limited.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. The forward-looking statements contained
herein are subject to risks and uncertainties that could cause
actual results to differ materially from those reflected in the
forward-looking statements. Sify undertakes no duty to update any
forward-looking statements.
For a discussion of the risks associated with Sify’s
business, please see the discussion under the caption “Risk
Factors” in the company’s Annual Report on Form 20-F for the year
ended March 31, 2021, which has been filed with the United States
Securities and Exchange Commission and is available by accessing
the database maintained by the SEC at www.sec.gov, and Sify’s other
reports filed with the SEC.
For further information, please contact:
Praveen Krishna
Sify Technologies Limited
+91 44 22540777 (ext.2055)
praveen.krishna@sifycorp.com
Lucia Domville
Grayling Investor Relations
+1-646-824-2856
Lucia.Domville@grayling.com
Nikhila Kesavan
20:20 Media
+91 9840124036
nikhila.kesavan@2020msl.com
Phiroza Choksi
Kotak Mahindra Group
+91-98203-63681
Phiroza.Choksi@kotak.com
Mahesh Nayak
Kotak Mahindra Group
+91-98704-76989
Mahesh.Nayak@kotak.com
Rakesh Sharma
Fortuna PR
+91-98335-37679
Rakesh@fortunapr.com
Prasanna Deshpande
Fortuna PR
+91-98206-79088
Prasanna@fortunapr.com
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