Yotta Data hires advisors for $900 million Mumbai IPO

According to ETMarkets (The Economic Times), Yotta Data Services Pvt. Ltd. has engaged investment banks as advisers as it considers an initial public offering in Mumbai that could raise as much as $900 million. ETMarkets reports the company has tapped ICICI Securities Ltd. and SBI Capital Markets Ltd. and is likely to add more banks before filing a draft prospectus in the next two to three months. The article reports the planned IPO is expected in the final quarter of the year and that the company is considering a pre-IPO round of up to $300 million. ETMarkets also reports that CEO Sunil Gupta told Dow Jones the company is targeting a valuation of as much as $6 billion, and that Yotta operates what the article describes as India's largest cluster of Nvidia Corp. artificial-intelligence processors. ETMarkets adds that company and bank representatives did not immediately respond to requests for comment.

Industry-pattern observations: investors have recently reallocated capital toward firms owning AI compute infrastructure, boosting valuations for data-center operators. Trade reporting and market research cited in the story, including a CBRE Group Inc. forecast noted by ETMarkets, place investment into India's data-center market as sizable, with CBRE projecting investment could exceed $100 billion by 2027. For practitioners, this means stronger demand signals for rack-scale GPUs, networking, and power/cooling engineering expertise rather than application-layer software alone.

public-market interest in infrastructure plays offers a different liquidity pathway than US listings or SPAC mergers. ETMarkets reports Yotta explored a US listing via a SPAC merger in the past but has refocused on a domestic Mumbai listing, per the article. A near-billion-dollar IPO for an operator claiming large-scale Nvidia GPU capacity would be notable for capital markets in the region and for enterprises sourcing AI compute capacity.

observers will track whether Yotta files a draft prospectus within the next two to three months as reported, whether additional banks join the syndicate, and any finalized size or timing changes to the offering. Market participants may also watch detailed disclosures on GPU pod counts, power usage effectiveness, long-term customer commitments, and capital expenditure plans once regulatory filings become public.