Sify Infinit Spaces Limited (SISL), a wholly-owned data center subsidiary of Sify Technologies, announced the successful listing of its first market offering of Secured, Redeemable, Non-Convertible Debentures. The issue, aggregating to INR 250,00,00,000, was fully subscribed by investors.
The 15-year bonds were subscribed at a coupon rate of 8.95% and received an AA- (Double A minus) rating from CARE. The debentures were listed on the Bombay Stock Exchange on Friday, October 04, 2024.
The proceeds from this issuance have been utilized to repay outstanding bank term loans, providing financial flexibility. Ganesh Sankararaman, Head - Group Corporate Finance at Sify, stated that the successful listing demonstrates bankers' and institutional investors' trust in the company's roadmap to become India’s leading AI-ready colocation services provider.
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