Yotta Data Services, a domestic provider of data center and cloud computing services, has submitted its final application to the U.S. Securities and Exchange Commission (SEC) for a listing on the Nasdaq stock exchange, as confirmed by chief executive Sunil Gupta. Although Gupta did not reveal the exact size of the initial public offering (IPO), a company presentation to the SEC indicated that the listing is anticipated to generate approximately $463 million (₹4,064 crore) in cash. The final registration form for public markets was filed by Yotta on December 30 through its parent company, Nidar Infrastructure.
Gupta stated, “We are in the process of our public listing with the U.S. SEC. While we are not disclosing the final official size of our IPO, this will mark the first time the promoters of the company are diluting their equity stake in Yotta. We do not have a specific date to announce yet, but the public listing is expected soon, pending regulatory approval.”
Backed by the Hiranandani Group, Yotta currently operates two data centers in Mumbai and Noida. Founded in 2019, the company gained attention last year after partnering with Nvidia Corp for the supply of GPUs (graphic processing units). Yotta has a current data center capacity of 32 megawatts (MW) and is developing five additional data center projects, including one in Bangladesh.
Gupta, an industry veteran who previously led competitor NTT in India, first discussed Yotta’s public listing plans in March of the previous year. At that time, Yotta had agreed to receive 16,000 GPUs from Nvidia in a staggered supply arrangement. The anticipated public listing is expected to provide funding for expanding data center facilities and acquiring Nvidia’s GPUs.
GPUs are essential for artificial intelligence infrastructure worldwide, offering high-performance processing capabilities that enable companies to handle large volumes of data and train algorithms, thereby facilitating the creation of AI models.
