Private Equity

Private Equity Fund Investments

Kotak Special Situations Fund to invest Rs.1,000-Cr in Sify's data center biz

Business Standard  

Kotak Special Situations Fund (KSSF), managed by Kotak Investment Advisors, is investing INR 1,000 crore (USD 135 million) in Chennai-based Sify Infinit Spaces (SISL), a wholly-owned subsidiary of Nasdaq listed Sify Technologies. SISL is a data centre services player serving Indian and global enterprise customers and hyperscalers from its ten operational data centres. The KSSF investment will be in the form of compulsorily convertible debentures (CCDs), 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' plan to develop new data centres in Mumbai, Noida, Chennai, Bengaluru and Hyderabad and for investment in renewable energy requirements for its operational and new data centres for INR 4,000 crore (USD 530 million).