+
Yotta Eyes $463M Nasdaq IPO for AI Expansion
Technology

Yotta Eyes $463M Nasdaq IPO for AI Expansion

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.

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.

Next Story
Equipment

Mollo Noleggio Enters Global Top 100 Rental Companies List

 Mollo Noleggio has been listed in the 2025 IRN 100, the annual ranking by International Rental News that identifies the world’s top 100 equipment rental companies by turnover. The Alba-based firm becomes the first Italian rental-only company to enter the global list, following a turnover of over €150 million in 2024 generated solely through rental operations.  The ranking highlights operators in construction, industrial, and event equipment rental. Mollo Noleggio also features among the top 20 rental-focused companies in Europe, reinforcing its growing influence on the cont..

Next Story
Resources

IHCL, Indian Army & REACHA Launch Skill Centre in Uri, J&K on World Youth Skills Day

On the occasion of World Youth Skills Day, Indian Hotels Company (IHCL), India’s largest hospitality firm, in collaboration with REACHA (Research & Extension Association for Conservation Horticulture and Agro-Forestry) and the Indian Army, announced the launch of a new skill development centre in Uri, Jammu & Kashmir. The initiative aims to empower local youth with employable skills and entrepreneurial potential through two dedicated courses: Bakery and Fashion Designing (Weaving). The project is part of IHCL’s broader ESG+ framework, Paathya, under which the company has pledg..

Next Story
Infrastructure Transport

Mumbai’s Carnac Bridge Renamed Sindoor After Operation Sindoor

The newly constructed Carnac Bridge in Mumbai, now officially renamed as Sindoor Bridge, was inaugurated on July 10, 2025, by Maharashtra Chief Minister Devendra Fadnavis. The decision to rename the bridge was linked to “Operation Sindoor,” a symbolic initiative aimed at erasing the colonial legacy associated with the original name.During the inauguration, Chief Minister Fadnavis explained that the renaming sought to wipe away a dark chapter of Indian history linked to British rule. He referred to historical accounts written by Prabodhankar Thackeray, which alleged that British Governor Ca..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?