Sify unit to raise Rs 1,000 crore from Kotak Special Situations Fund

Mumbai: Sify Infinit Spaces Ltd., the data centre unit of Sify Technologies Ltd., is raising Rs 1,000 crore from Kotak Special Situations Fund.

The investment will be in the form of compulsorily convertible debentures, which will convert into equity based on operational performance of Sify Infinit Spaces over a specified period. The capital will be used to set up new data centres in Mumbai, Noida, Chennai, Bengaluru and Hyderabad and invest in renewable energy requirements of these units.