Yotta plans $1.5 billion fundraise including India IPO

Yotta Data Services plans to raise $1.5 billion by the end of the current fiscal year, with the bulk of it coming from a pre-IPO round, Livemint reports. The Mumbai-based data centre company is targeting the fourth quarter for its initial public offering (IPO), subject to Sebi approval, and the IPO could raise up to $400 million. Co-founder and CEO Sunil Gupta said the final IPO size will depend on how much the firm raises beforehand.

Yotta had earlier planned to list in the US but shifted focus to India, where its sovereign-cloud business and government clients make a domestic listing a better fit, Gupta said. The company reported revenue of Rs 890.7 crore and a profit of Rs 11.1 crore for the year ended March 2025. Yotta plans to raise $8.5 billion by 2029, more than quadruple its data centre capacity from 180MW to 800MW, and increase its Nvidia chips from 37,000 to 85,000 by the end of this fiscal year.