Yotta Eyes $463M Nasdaq IPO for AI Expansion

10 Feb 2025 CW Team

Yotta Data Services, a homegrown data centre and cloud computing provider, has filed its final application with the U.S. Securities and Exchange Commission (SEC) to list on the Nasdaq stock exchange. CEO Sunil Gupta revealed this move in an interview with Mint, although he did not disclose the final IPO size. However, a company presentation to the SEC indicated that the listing is expected to generate approximately $463 million in funds.

The final registration form was submitted on 30 December 2024 under its holding entity, Nidar Infrastructure. Gupta highlighted that this will be the first time the company’s promoters will dilute equity behind Yotta. While the exact date of the listing is still pending, the company anticipates regulatory clearance soon.

Founded in 2019, Yotta is backed by the Hiranandani Group and operates two active data centres in Mumbai and Noida. With 32 MW of data centre capacity, it has also secured a partnership with Nvidia for their graphic processing units (GPUs), which are crucial for powering AI infrastructure. Yotta has five more data centre projects in progress, including one in Bangladesh.

Yotta’s enterprise value is pegged at $4.2 billion in its SEC filings. The company reported $44.6 million in FY24 gross revenue, with projections to reach $143.3 million for FY25, a growth of over three times. However, the capital-intensive nature of AI infrastructure and GPU acquisition has kept Yotta in the red, projecting a net loss of $113 million for FY25, which it expects to halve by FY26.

Despite challenges, Gupta remains optimistic, highlighting the U.S. market as a primary revenue driver, with over 70% of their AI deals coming from North America. Listing in the U.S. will help offer regulatory certainty and bolster Yotta's position in the global AI growth trajectory.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..